Iowa Code 455I.4 – Contents of environmental covenant
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1. An environmental covenant shall contain all of the following:
a. A statement that the instrument is an environmental covenant executed pursuant to this chapter.
b. A legally sufficient description of the real property subject to the environmental covenant.
c. A description of the activity and use limitations on the real property.
d. The identity of every holder and grantor.
e. A signature by the grantor, the agency, every holder, and, unless waived by the agency, every owner in fee simple of the real property subject to the environmental covenant.
f. Identification of the name and location of any final agency action decision documents for the environmental response project reflected in the environmental covenant.
g. The rights of access to the real property granted in connection with implementation or enforcement of the environmental covenant.
Terms Used In Iowa Code 455I.4
- Agency: means the department of natural resources created by section 455A. See Iowa Code 455I.2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Environmental covenant: means a servitude arising under an environmental response project that imposes activity and use limitations or the written document creating such servitude. See Iowa Code 455I.2
- Environmental response project: means a plan or work performed for environmental remediation or flood control affecting real property and conducted under or by one of the following:a. See Iowa Code 455I.2
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Grantor: means any person with sufficient fee title or other property ownership interests necessary to create a valid environmental covenant under Iowa law. See Iowa Code 455I.2
- Grantor: The person who establishes a trust and places property into it.
- Holder: means the grantee of an environmental covenant as specified in section 455I. See Iowa Code 455I.2
- Owner: means a person, other than a lienholder, having the property right in or title to a motorboat or vessel. See Iowa Code 462A.2
- property: includes personal and real property. See Iowa Code 4.1
- real property: include lands, tenements, hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Iowa Code 4.1
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Signature: includes an electronic signature as defined in section 554D. See Iowa Code 4.1
- Use: means to operate, navigate, or employ a vessel. See Iowa Code 462A.2
2. In addition to the information required in this section, an environmental covenant may contain other information, restrictions, and requirements agreed to by the persons who sign the environmental covenant, including any of the following:a. Requirements for periodic reporting describing compliance with the environmental covenant.b. Requirements for notice to an agency following transfer of a specified interest in, or concerning proposed changes in use of, applications for building permits for, or proposals for any site work affecting the contamination on, the real property subject to the environmental covenant.c. A brief narrative description of the contamination and remedy, including the contaminants of concern, the pathways of exposure, limits on exposure, and the location and extent of the contamination.d. Limitations on amendment or termination of the environmental covenant in addition to those contained in sections 455I.9 and 455I.10.e. Rights of the holder in addition to the holder’s right to enforce the environmental covenant pursuant to section 455I.11.3. In addition to other conditions for its approval of an environmental covenant authorized by law, an agency may require those persons specified by the agency who have interests in the real property to sign the environmental covenant.