Environmental
In Indiana, a 'recognized environmental condition' (REC) identified in a Phase I ESA indicates:
AConfirmed contamination requiring immediate cleanup
BThe presence or likely presence of a release that could affect the property✓ Correct
CMinor cosmetic issues with no environmental significance
DThat the property has received a clean bill of health
Explanation
A REC (Recognized Environmental Condition) is a term from ASTM Standard E1527 indicating the presence or likely presence of hazardous substances or petroleum products in, on, or near a property under conditions indicating past or present release, but not necessarily confirmed contamination.
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