Reso13 PC 13-09 2859 Initial Study Mitigated Negative Declaration Kensington

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Report of Phase I Environnzental Site Assessnzent June 18, 2008 PSI Project Nun2ber 865-8E039 2.3 STANDARD OF CARE AND WARRANTIES Our services were not intended to be technically exhaustive. There is a possibility that with the proper application of inethodologies, conditions may exist on the property that could not be identified within the scope of the assessment(s) or that were not reasonably identifiable from the available information. No ESA can wholly eliminate uncertainty regarding the potential for environmental concerns or RECs in connection with the property. The ESA was intended to reduce, but not eliminate uncertainty regarding the potential for RECs and environmental concerns in connection with a property. Our report is based on commonly known and reasonably ascertainable information, including limited, ground-level visual inspection of the property except where otherwise explicitly indicated, in conformance with ASTM E 1527-05. Findings and conclusions derived from the methodologies described in the Practice contain all of the inherent limitations in the methodologies that are referred to in the Practice. PSI did not perform any exploratory probing or discovery, perform tests, operate any specific equipment, or take measurements or samples to perform the ESA scope. The ESA was not a building code, safety, regulatory or environmental compliance inspection. The ESA is not intended to reduce the risk of the presence of mold and physical deficiencies conducive to mold nor the risk that mold or physical deficiencies conducive to mold may pose to the buildings and building occupants. The methodologies include reviewing information provided by other sources. PSI treats information obtained from the record reviews and interviews concerning the property as reliable and the ASTM protocol does not require PSI to independently verify the information. Therefore, PSI cannot and does not warrant or guarantee that the information provided by these other sources is accurate or complete. No other warranties are implied or expressed. PSI warrants that the findings contained in this report have been prepared in general conformance with accepted professional practices at the time of report preparation as applied by similar professionals. Future changes in standards, practices, or regulations cannot be anticipated and have not been addressed. The observations and recommendations presented in this report are time dependent, and conditions will change. This report speaks only as of its date. 2.4 USE BY OTHER PARTIES This report was prepared pursuant to a contract between PSI and Fountain Square Development West, LLC. That contractual relationship included an exchange of information about the property that was unique and serves as the basis upon which this 5