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Q: What is the deductible for reimbursement of cleanup costs in the state of North Dakota?

A: The North Dakota Petrofund has a $5,000.00 deductible with 90% being paid after the deductible is met.


Q: I am in the process of selling/refinancing a commercial property. The lending agency says that I need to have a Phase I Assessment conducted on the property. What is a Phase I Assessment?

A: A Phase I Environmental Assessment is a historical and present use review of a property. The purpose of the Phase I is to identify Recognized Environmental Conditions on the property. These Conditions may consist of current or past practices which may have contaminated the property with hazardous substances or petroleum products. This Assessment, completed using current ASTM Standards, is intended to permit a buyer, lender, or owner to qualify for one of the requirements of the Innocent Landowner Defense. The Assessment must constitute "all appropriate inquiry into the previous ownership and uses of the property consistent with good commercial or customary practice."

Great Plains Environmental