AGENDA EBA Risk Management Committee Wednesday, October 26th @ 12:00p-Eastern
CAPSULE –
“VAPOR INTRUSION LITIGATION LESSONS”
Member, Jimmy Kirkland, Counsel at Womble Carlyle Sandridge & Rice, LLP has written an impressive article reviewing the legal aspects of Vapor Intrusion. VI is a very hot topic and can often be a game changer in a real estate transaction for buyers, sellers, and developers. Additionally, lenders should be very concerned about VI. More than 40 states have guidance documents that address VI. While toxic tort cases have been around for many years, VI cases present new challenges for lenders, property owners and businesses that must defend against these cases.
Dial-in Number: 712.432.0075 (Canadian callers: Dial this access number first: 559.546.1400.. and then the number above) Access code: 880073# Un-/Mute: *6
CALL TO ORDER:
[[Welcome to the EBA Risk Management Monthly Call. Today is *Wednesday, October 26, 2016*. Bill Sloan and Dennis Firestone are today’s hosts, and this call is being recorded in lieu of Minutes. This call is intended for EBA members and invited guests only. Unauthorized use of the content is prohibited.]]
ROLL-CALL:
In lieu of a roll-call, please introduce yourself on the call (even if you are not a member) and then take a moment during the call to e-mail your name to [email protected] ... or use the button embedded in the Reminder sent 15 minutes prior to the call.
ADMINISTRATIVE:
• Update from Nardone regarding January General Session in Tampa, FL http://www.envirobank.org/?page=TampaReg
OLD BUSINESS & TASK GROUP UPDATES:
Audio-replays (mp3 format) for the past two months: Listen to the calls with one of several “fast-playback” Android and iOS Applets (Contact Dennis for recommendations):
• August – 75 lines: “Tip Sheet No. 406: Reviewing Purchase and Sale Agreements” Member, Bill Alpine, General Counsel of Environmental Compliance Services (ECS) presented a practical guide for outlining the key process and provisions to be considered in a purchase and sale involving property owned or secured by a lender. Bill, along with commentary from John Schovanec of Bank of America, focused on the environmental aspects of a sale, and the general issues that may be encountered. Risk Committee Co-Chair Dennis P. Firestone was a contributing author of this Tip Sheet. The Tip Sheet is in final review and will be posted soon; thanks to all that provided comments. Online Library & Resources
• September – 68 lines: “Risk Exposure Associated with Occupational Hazards – A Closer Look at Identifying Risks Associated With Asbestos and Silica” EBA Members, Don, Ling, and Gabe of Fulcrum Resources Environmental continued their presentation topic from the June EBA General Session in Fort Worth, with more in-depth discussion on asbestos in soil, and case studies involving potential risk and exposure to building occupants, tenants, or ultimately, the lender. The speakers provided an overview of the new ASTM regulations related to silica, potential exposures, and proper methodology in testing and reporting. Online Library & Resources
ASTM Updates (Jeri Massengill):
• ASTM 1527-13 (ESA) • ASTM 2247-08 (Forest-Rural) • ASTM 1528-14 (TSA) • ASTM 2018-15 (PCA) • ASTM 2557-16a (PML)
Jeri Massengill CEO – Historical Information Gatherers, Inc. 1589 Highway 7, Suite B2, Hopkins, MN 55305 952-253-2004 ext 118 / 952-457-5751 mobile www.historicalinfo.com
NEW BUSINESS:
Presentation:
“VAPOR INTRUSION LITIGATION LESSONS”
Member, Jimmy Kirkland, Counsel at Womble Carlyle Sandridge & Rice, LLP has written an impressive article reviewing the legal aspects of Vapor Intrusion – see the article below. VI is a very hot topic and can often be a game changer in a real estate transaction for buyers, sellers, and developers. Additionally, lenders should be very concerned about VI. More than 40 states have guidance documents that address VI. While toxic tort cases have been around for many years, VI cases present new challenges for lenders, property owners and businesses that must defend against these cases.
Environmental Practice link: http://www.wcsr.com/Practices/Environmental-and-Energy
Jimmy’s bio: http://www.wcsr.com/lawyers/jimmy-kirkland
Jimmy Kirkland Womble Carlyle Sandridge & Rice, LLP 271 17th Street NW, Suite 2400 Atlanta, Georgia 30363 404.879.2460 phone 404.870.8223 fax www.wcsr.com
OPEN DISCUSSION:
• BOG Election: Candidates Weigh-In • Education Task Group - Kathryn Peacock (Partner) and Rita Wiggin (Commerce Bank) • Shannon Rose of GE will be looking for a new position in Phoenix shortly, as her Franchise portfolio winds down. Please contact her for a resume! Since 2014 Shannon has been the Senior Environmental Risk Manager at GE Franchise. Primary responsibilities include environmental technical reviews for origination and foreclosure transactions and advising risk team and special servicing on risks and mitigation measures; managing environmental investigation of owned assets for sale, to include review of Phase II ESA proposals, researching reporting obligations, available environmental insurance coverage, and assisting in the preparation of appropriate remedial documents to achieve regulatory closure; management of environmental liabilities of owned asset portfolio and assisting asset management in managing the risks, advised asset management for divestiture of owned assets and preparing owned asset sale memos; vendor selection and management; refining internal environmental policies, scopes of work, and procedures, and providing training to relevant staff on revisions; and negotiating environmental indemnity language in purchase sale agreements and loan documents. Shannon Renee Rose, CEM, Esq. // Shanroseaz@gmail.com // 602.820.9242
FUTURE CALLS:
Calls are always Wednesday at 12:00p-Eastern, and tend to fall on the 2nd or 3rd week of the month. These are only tentative dates and topics; speaker availability drives the ultimate line-up and specific week. Please contact Dennis if you have a proposed topic or want to throw someone under the bus propose someone as a speaker.
Topics queued:
• November 16th: Radon Tip Sheet – Peter Dollander of BB&T • December: Anatomy of a Closing - Ticor Title
• Indemnity Provisions Tip Sheet (Need a team! – anyone interested?) • MSAs (draft Tip Sheet) and Bank Policy (final Tip Sheet) – Nadine Stroud of Western Alliance Bank will Co- Author the MSA Tip Sheet with Dennis, and Dennis has recruited several lenders for the Bank Policy Tip Sheet. • ASTM E2790 - Standard Guide for Identifying and Complying with Continuing Obligations – Our own Jeri Massengill of HIG, and Task Group Chair.. Michael Sowinski of Terradex.
ADJOURNMENT -
Random links – CTRL + Click to follow the links (thanks to those that contributed; please take a minute and send me your Favorites).
Feral assets, creepy collateral and peculiar places: http://photos.metrotimes.com/13-eerie-photos-inside-the-haunted-traverse-city-state- hospital/?slide=1&9276289375_73da3e1ec1_k http://abandoned.southseatimes.co.uk/take-tour-abandoned-hotel-one-haunted-places-texas/ http://scribol.com/a/anthropology-and-history/bizarre-and-offbeat-news/ghost-ships-grisly-cargo-ashore- japan/?utm_source=hexagram_LOLSpots&utm_medium=cpc http://diply.com/wtf-magazine/article/costa-condordia-abandoned-photos http://www.viralthread.com/homeless-man-builds-incredible-secret-home-under-train- station/?utm_medium=affiliate&utm_source=vt http://www.businessinsider.com/ugliest-mcmansions-in-america-2016- 10?utm_content=buffer20824&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer/#16-oakland-co- mi-4 http://www.mcmansionhell.com/?og=1 http://bit.ly/2e1KAfp
DPF’s Tech Recs (proceed at your own risk): http://www.pcworld.com/article/2904413/how-to-add-a-number-row-to-the-google-keyboard.html http://www.worthyreview.com/trending2/famous-voice.html http://lifehacker.com/three-ways-to-remotely-monitor-someone-elses-computer-1739406855 http://www.worthyreview.com/trending2/wifi-lifehack.html
Science and Stuff: https://m.youtube.com/watch?v=WSxGxN8leb8 https://m.youtube.com/watch?v=ZrT82n4rhaU http://www.thisisinsider.com/china-has-a-massive-food-industry-2016- 1?utm_content=buffera1aa0&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-insider/#chinas- first-computer-controlled-greenhouse-is-located-on-the-outskirts-of-beijing-and-opened-in-2010-here-artificial-lights-are- used-to-grow-lettuce-1 http://www.thisisinsider.com/boeing-airplanes-winglets-nasa-2016- 9?utm_content=buffer5393f&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-insider http://www.organicandhealthy.org/2016/10/how-to-use-peanut-butter-to-tell-if-you.html?m=1 http://9gag.com/tv/p/aQedPr/borrowed-time-pixar-short-film-quorum-films-2016 http://9gag.com/tv/p/amjLnB/dream-wildlife?ref=fbl9 http://www.snopes.com/3d-printed-rhino-horn-developed/ http://www.thisisinsider.com/why-cant-you-pour-grease-down-the-drain-2014- 8?utm_content=buffercc34f&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-insider http://www.familyhandyman.com/tools/best-tools-of-the-pros-the-secret-weapons/view- all?trkid=FBPAGE_TFH_20161018_ProvenPerformer_Tools_Article https://brightside.me/inspiration-health/scientists-have-finally-invented-an-everlasting-dental-filling-that-repairs-teeth- 248110/ http://waterfordwhispersnews.com/2016/04/07/amazing-new-app-raises-your-child-until-the-age-of-18/ https://brightside.me/wonder-curiosities/this-is-why-the-handrails-move-faster-than-the-escalator-on-the-subway-244560/
Recipes: http://lifehac.kr/SY8rlnH http://www.thisisinsider.com/what-not-to-do-when-cooking-steak-2016- 10?utm_content=buffera1032&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-insider http://skillet.lifehacker.com/upgrade-your-rice-by-putting-a-whole-tomato-in-your-ric- 1787988473?utm_campaign=socialflow_lifehacker_facebook&utm_source=lifehacker_facebook&utm_medium=socialflow http://lifehac.kr/2mhGbxr http://www.organicandhealthy.org/2016/10/why-your-wild-salmon-might-really-be.html?m=1 http://www.instructables.com/id/Smoking-in-an-Apartment/ http://lifehac.kr/OINmOJe
Life: Please - get your skin checked: http://m.9gag.com/gag/a5ZdN8g?ref=fbp http://themindunleashed.com/2016/10/before-evacuating-during-a-hurricane-put-a-quarter-in-a-cup-of-ice-and-put-it-in- the-freezer.html https://youtu.be/-avpx8UTakI http://www.vice.com/en_uk/read/parisian-taking-photographs-ocd-876?utm_source=dmfb https://brightside.me/wonder-curiosities/heres-why-you-should-never-post-a-photograph-of-your-boarding-pass-online- 248210/ http://www.familyhandyman.com/carpentry/trim-carpentry/how-to-install-wood-molding/view- all?trkid=FBPAGE_TFH_20160918_TotD_Woodworking_Photo http://www.wsj.com/video/how-to-score-a-meeting-with-influential-people/B010A062-9401-4CA5-B5D1- 6235D49EC020.html https://brightside.me/article/15-clever-psychological-tricks-which-everyone-should-know-17055/
Take time to observe life: http://trib.al/Z5q3134
From a member: James Dale Davidson an economist who has quite a track record of predicting major economic events. He has a book Age of Deception and a video https://www.youtube.com/watch?v=pmNvo3ix-QQ ( the quality is not great; I saw it from an CNN link). Here is a short news story about him: http://www.newsmax.com/Finance/StreetTalk/James-Dale-Davidson-stock-market-crash-1929- invest/2015/08/24/id/671693/
WWIII (My money is on a proxy war .. Russia+China behind Thailand, and US behind Viet Nam): http://www.viralthread.com/vladamir-putin-reveals-horrifying-world-war-3-plans-in-chilling- video/?utm_medium=affiliate&utm_source=vt http://www.theearthchild.co.za/pentagon-finally-admits-ww-iii-around-corner-reveals-will-fast-deadly/ http://www.trueactivist.com/jimmy-carter-the-u-s-isnt-a-democracy-its-an- oligarchy/?utm_source=Facebook&utm_medium=TMU&utm_content=jimmycartertheusisntademocracyitsanoligarchy
Meanwhile in Detroit (DPF’s home town): http://www.mlive.com/news/grand- rapids/index.ssf/2016/10/bigfoot_encounter_claimed_by_2.html#incart_river_home_pop http://www.detroitnews.com/story/business/2016/10/18/comerica-cut-mich-branches/92397164/ http://photos.metrotimes.com/18-historic-and-not-so-historic-maps-of-michigan/?slide=1&1-canada-ou-nouvelle http://photos.metrotimes.com/19-of-the-most-haunted-places-in-metro-detroit/?slide=1&6813334035_3fa90129db_b http://www.nytimes.com/2015/07/12/fashion/last-stop-on-the-l-train-detroit.html http://lostinmichigan.net/old-marquette-orphanage/ http://www.viralthread.com/secret-nazi-era-weather-station-discovered/?utm_medium=affiliate&utm_source=vt http://photos.metrotimes.com/9-photos-of-detroits-pub-scene-from-the-1930s/?slide=1&71078jp2-wi-he-re1-x0-y0-sw-sh- ro-final http://photos.metrotimes.com/20-vintage-photos-of-corktown-detroits-oldest- neighborhood/?slide=1&11014672_959372747415683_1859526163606065053_n