Georgia § 44-16-4 - Requirements for environmental covenant.

§ 44-16-4. Requirements for environmental covenant.

An environmental covenant shall: State that the instrument is an environmental covenant executed pursuant to this chapter; Contain a legally sufficient description of the real property subject to the covenant and the name of the owner of the fee simple of the real property subject to such covenant at the time such covenant is executed; Describe the activity and use limitations on the real property; Identify every holder; Be signed by the agency, every holder, and, unless waived by the agency, every owner of the fee simple of the real property subject to such covenant; and Identify the name and location of any administrative record for the environmental response project reflected in the environmental covenant. In addition to the information required by subsection (a) of this Code section, an environmental covenant may contain other information, restrictions, and requirements agreed to by the persons who signed it, including any: Requirements for notice 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 property subject to the covenant; Requirements for periodic reporting describing compliance with the covenant; Rights of access to the property granted in connection with implementation or enforcement of the covenant; 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; Limitation on amendment or termination of the covenant in addition to those contained in Code Sections 44-16-9 and 44-16-10; and Rights of the holder in addition to the right to enforce the covenant pursuant to Code Section 44-16-11. In addition to other conditions for its approval of an environmental covenant, the agency may require those persons specified by the agency who have interests in the real property to sign the covenant. The agency shall not sign the environmental covenant without confirming that the people or entities listed in paragraphs (1) through (6) of subsection (a) of Code Section 44-16-7 have been served with a copy of the proposed final text of the environmental covenant at least 30 days prior to the agency signing such covenant. (Code 1981, § 44-16-4 , enacted by Ga. L. 2008, p. 1168, § 1/HB 1132.)