Environmental Investigation Letter and Indemnity Agreement between HEI, Inc. and Commerce Bank for 1945 Steiger Lake Lane

Contract Categories: Business Operations › Indemnification Agreements
Summary

HEI, Inc. certifies to Commerce Bank that it has conducted an environmental investigation, including a Phase I Environmental Site Assessment by Braun Intertech Corporation, for the property at 1945 Steiger Lake Lane, Victoria, MN. HEI, Inc. states that, to its knowledge, there are no hazardous substances on or under the property and none have been released into the environment from it. HEI, Inc. agrees to indemnify and hold Commerce Bank harmless from any losses related to hazardous substances, and is willing to sign a formal indemnity agreement if needed.

Read More Arrow
EX-10.44 15 c81087exv10w44.txt EX-10.44 ENVIRONMENTAL INVESTIGATION LETTER EXHIBIT 10.44 ENVIRONMENTAL INVESTIGATION LETTER October 14, 2003 Commerce Bank. 7650 Edinborough Way Suite 150 Edina, MN 55435 Re: 1945 Steiger Lake Lane, Victoria, MN Ladies and Gentlemen: This letter will certify that we have conducted a search of the real estate that is the subject of the above-referenced project in an attempt to determine if there are any environmentally hazardous substances on or about the premises. That search has consisted of engaging Braun Intertech Corporation and obtaining a Phase I Environmental Site Assessment. It is therefore our opinion that to the best of the company's information, knowledge, and belief, there are no pollutants or migrating pollutants on or under the Mortgaged Property and that to the best of our information, knowledge, and belief, no Hazardous Substances have been released into the environment from the Mortgaged Property, and if any such Hazardous Substances exist, the company shall and does hereby agree to fully indemnify and hold harmless Commerce Bank from any and all losses caused or attributable to any such Hazardous Substances, and the company shall be willing to execute an indemnity agreement specifically relating to such issue substantially the form attached hereto as Exhibit 1. Sincerely, HEI, INC. By: /s/ Douglas J. Nesbit ----------------------- Its: Chief Financial Officer