Phase I Environmental Site Assessment Record No. 101650450 Vacant Graded Land 13918 Village Lake Circle Jacksonville, Florida 32258 Project No. T24023.003 July 30, 2010 Phase I Environmental Site Assessment Record No. 101650450 Vacant Land 13918 Village Lake Circle Jacksonville, Florida 32258 Project No. T24023.003 July 30, 2010 Prepared By: Tetra Tech, Inc. 17885 Von Karman Avenue, Suite 500 Irvine, CA 92614 Office: (949) 809-5000 Fax: (949) 809-5010 Prepared For: Federal Deposit Insurance Corporation as Receiver for Peoples First Community Bank, Bank No. 10165 c/o CB Richard Ellis, Inc. 2001 Ross Avenue, Suite 33rd Floor Dallas, TX 75201 17885 Von Karman Avenue, Suite 500 Irvine, CA 92614 Office: (949) 809-5000 Fax: (949) 809-5010 July 30, 2010 Mr. Preston Pillsbury - CB Richard Ellis, Inc. (CBRE) Federal Deposit Insurance Corporation as Receiver for Peoples First Community Bank, Bank No. 10165 c/o CBRE 2001 Ross Avenue, 33rd Floor Dallas, Texas 75201 RE: Phase I Environmental Site Assessment Record No. 101650450 Vacant Graded Land 13918 Village Lake Circle Jacksonville, Florida 32258 Project No. T24023.003 Dear Mr. Pillsbury: Tetra Tech, Inc. (Tetra Tech) is pleased to submit this Phase I Environmental Site Assessment (ESA) report to Federal Deposit Insurance Corporation (FDIC), as Receiver for Peoples First Community Bank, Bank No. 10165, c/o CBRE, for the above-referenced property (the Site). Tetra Tech found no recognized environmental conditions (RECs), no historical RECs (HRECs), no potential environmental concerns (PECs), and one business environmental risk (BER) in connection with the Site. It is Tetra Tech’s understanding that this ESA is being requested in conjunction with due diligence activities for the Site by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165. Tetra Tech recognizes that this report is to be used exclusively by the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165, NRT REOExperts LLC (Realogy), and CBRE and their affiliates. It is a report upon which the FDIC, as Receiver for Peoples First Community Bank, Bank No. 10165, Realogy, and CBRE and its affiliates can rely. Mr. Preston Pillsbury 2 Tetra Tech, Inc. FDIC, as Receiver for Vacant Graded Land Phase I ESA Peoples First Community Bank 13918 Village Lake Circle Record No. 101650450 Bank No. 10165 Jacksonville, FL 32258 Project No. T24023.003 July 30, 2010 We appreciate the opportunity to provide you with these services. Please do not hesitate to contact us at your convenience should you have any questions or comments regarding this report or our findings. It has been a pleasure working with you on this transaction. Sincerely, TETRA TECH, INC. STEVEN GROD, REA No. 07806 JON R. LOVEGREEN, CPG No. 1164 Project Manager Manager, Private Practice Group Phone: 949.809.5000 ext 5076 Phone: 949.809.5000 ext 5060 Enclosure TABLE OF CONTENTS TRANSMITTAL LETTER 1.0 SUMMARY AND RECOMMENDATIONS ................................................................................. 1 2.0 INTRODUCTION ........................................................................................................................... 4 2.1 PURPOSE AND SCOPE OF SERVICES.......................................................................... 4 2.2 SIGNIFICANT ASSUMPTIONS, LIMITATIONS AND EXCEPTIONS, SPECIAL TERMS AND CONDITIONS............................................................................................ 6 2.3 USER RELIANCE ............................................................................................................. 7 3.0 ASSET INFORMATION AND SITE BACKGROUND................................................................ 8 3.1 ASSET INFORMATION ................................................................................................... 8 3.2 LOCATION AND LEGAL DESCRIPTION ..................................................................... 8 3.3 SITE AND VICINITY GENERAL CHARACTERISTICS .............................................. 8 3.4 OWNER, MANAGER AND OCCUPANTS..................................................................... 8 3.5 CURRENT USE OF THE PROPERTY............................................................................. 8 3.6 DESCRIPTION OF STRUCTURES, ROADS, AND OTHER SITE IMPROVEMENTS9 3.6.1 Exterior Improvements.......................................................................................... 9 3.6.2 Building Description.............................................................................................. 9 3.6.3 Utilities .................................................................................................................. 9 3.6.4 Current and Historical Usage of Adjoining Properties.......................................... 9 4.0 PROPERTY HISTORY................................................................................................................. 11 4.1 HISTORICAL SITE USE INFORMATION.................................................................... 11 4.1.1 Prior Ownership and Usage................................................................................. 11 4.1.2 Prior Uses of Site and Surrounding Properties.................................................... 11 5.0 REGULATORY REVIEW............................................................................................................ 14 5.1 STANDARD ENVIRONMENTAL RECORD SOURCES (EDR)................................. 14 5.1.1 Federal Regulatory Records ................................................................................ 15 5.1.2 State and EDR Proprietary Regulatory Records.................................................. 15 5.2 ADDITIONAL ENVIRONMENTAL RECORD SOURCES.......................................... 15 5.3 PREVIOUS ENVIRONMENTAL INVESTIGATIONS................................................. 16 5.4 HISTORICAL ADJOINING PROPERTY USE INFORMATION ................................. 16 6.0 SITE INVESTIGATION AND REVIEW OF ENVIRONMENTAL CONDITIONS.................. 17 6.1 METHODOLOGY AND LIMITING CONDITIONS..................................................... 17 6.2 TOPOGRAPHY ............................................................................................................... 17 6.3 GEOLOGY....................................................................................................................... 17 6.4 SOILS ............................................................................................................................... 18 6.5 HYDROLOGY................................................................................................................. 18 6.6 CHEMICALS AND RAW MATERIALS ....................................................................... 18 6.7 POLYCHLORINATED BIPHENYLS (PCBS)............................................................... 18 6.8 ASBESTOS-CONTAINING MATERIALS (ACMS)..................................................... 18 6.9 RADON............................................................................................................................ 18 6.10 DRINKING WATER ....................................................................................................... 18 6.11 LEAD-BASED PAINT (LBP) ......................................................................................... 19 6.12 HAZARDOUS SUBSTANCES OR PETROLEUM PRODUCTS.................................. 19 6.12.1 Hazardous Material Usage................................................................................... 19 TETRA TECH, INC. i RECORD NO. 101650450 PROJECT NO. T24023.003 6.12.2 Hazardous Waste Management ........................................................................... 19 6.12.3 Solid Waste Management.................................................................................... 19 6.13 LANDFILLS .................................................................................................................... 19 6.14 PITS, SUMPS, DRYWELLS, OR CATCH BASINS...................................................... 19 6.15 ON-SITE STORAGE TANKS......................................................................................... 19 6.15.1 Underground Storage Tanks (USTs) ................................................................... 19 6.15.2 Aboveground Storage Tanks (ASTs) .................................................................. 19 6.16 OFF-SITE STORAGE TANKS ....................................................................................... 20 6.16.1 Underground Storage Tanks (USTs) ................................................................... 20 6.16.2 Aboveground Storage Tanks (ASTs) .................................................................. 20 6.17 STORM WATER DISCHARGE ..................................................................................... 20 6.18 WASTEWATER DISCHARGE ...................................................................................... 20 6.19 MERCURY ...................................................................................................................... 20 6.20 AIR EMISSIONS ............................................................................................................. 20 6.21 DRY CLEANING OPERATIONS................................................................................... 20 6.22 MICROBIAL GROWTH AND MOISTURE INTRUSION............................................ 20 6.23 ENVIRONMENTAL NON-COMPLIANCE ISSUES .................................................... 21 6.24 OTHER