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171 <br /> Phase I Environmental Site Assessment <br /> 5824 Morrow Mill Road <br /> Chapel Hill, North Carolina s <br /> S&ME Project No. 22580189 111 E <br /> 3.2 Environmental Liens or Activity and Use Limitations <br /> Review of Activity and Use Limitations (AULs) and environmental liens by the environmental professional can help <br /> in determining if a REC is associated with the property. AULs can include both institutional and engineering <br /> controls and are often recorded in land title records in the restrictions of record rather than a typical chain-of-title <br /> or title abstract. The User has the responsibility of checking land title and judicial (federal, state, tribal and local) <br /> records. <br /> Mr. Cox indicated on the User Questionnaire that he was not aware of any AULs or liens against the property. <br /> 3.3 Specialized Knowledge <br /> Mr. Cox indicated on the User Questionnaire that he did not have specialized knowledge relating to the subject <br /> property or nearby properties. <br /> 3.4 Commonly Known or Reasonably Ascertainable Information <br /> No commonly known or reasonably ascertainable information about the subject property within the local <br /> community that was material to RECs in connection with the subject property was reported to S&ME on the User <br /> Questionnaire by Mr. Cox. <br /> 3.5 Valuation Reduction for Environmental Issues <br /> Mr. Cox indicated on the User Questionnaire that this Phase I ESA was being conducted as pre-development due <br /> diligence, and that the purchase price for the property reflected fair market value. <br /> 3.6 Owner, Property Manager and Occupant Information <br /> As identified by Mr. Cox and Orange County tax records, subject property consists of one parcel. Mr. Cox <br /> identified Thomas Cheek as the owner and sole occupant of 5824 Morrow Mill Road, Chapel Hill, North Carolina. <br /> 3.7 Reason for Performing the Phase I ESA <br /> According to Mr. Cox, this Phase I ESA is being conducted as pre-development due diligence regarding the <br /> subject property. The purpose of the Phase I ESA is to identify, pursuant to ASTM E 1527-13, RECs, CRECs and <br /> HRECs in connection with the property. <br /> 3.8 Other <br /> Mr. Cox did not provide any additional information on the subject property on the User Questionnaire. <br /> 4.0 RECORDS REVIEW <br /> This section summarizes records obtained and reviewed to help identify RECs, CRECs, and HRECs in connection <br /> with the subject property. <br /> August 25, 2022 6 <br />