25548.4
. This chapter does not do any of the following:
(a) Affect any rights, defenses, or immunities that are available
to any lender or fiduciary under any applicable law.
(b) Create any liability for any lender or fiduciary.
(c) Create any private right of action against any lender or
fiduciary.
(d) Exempt or excuse a lender or fiduciary who operates or directs
the operation, or maintains the operation, of the property from
compliance with the operational requirements of applicable laws.
Those operational requirements include, but are not limited to,
permitting, reporting, monitoring, emission limitation, corrective
action, financial responsibility and assurance requirements,
requirements to take removal or remedial action to respond to a
release or threatened release of hazardous materials caused by the
lender or fiduciary and the requirements of Division 26 (commencing
with Section 39000) of this code or of Division 7 (commencing with
Section 13000) of the Water Code. Operational requirements include
the payment of fees, fines, and penalties, and compliance with any
other enforcement provisions that are applicable as a result of the
operation, or the direction of the operation, or the maintenance of
the operation, of the property by the lender or fiduciary.
(e) Affect any liability of a fiduciary to a beneficiary of a
fiduciary estate for breach of trust under Chapter 4 (commencing with
Section 16400) of Part 4 of Division 9 of the Probate Code.
(f) Affect any liabilities of a fiduciary estate.
(g) Exempt a lender from liability imposed by Chapter 6.8
(commencing with Section 25300) for a removal or remedial action or
the recovery of damages relating to a release or threatened release
of hazardous material, to the extent that the lender is a responsible
party pursuant to Section 107(a)(3) or (4) of the Comprehensive
Environmental Response Compensation and Liability Act of 1980 (42
U.S.C. Sec. 9607(a)(3) or (4)).
(h) Exempt a lender or fiduciary from any liability imposed by
Chapter 6.5 (commencing with Section 25100).
(i) Exempt or excuse a lender from liability under any state or
local statute, regulation, or ordinance for a known or suspected
release or known or suspected threatened release of hazardous
materials caused by events or conditions occurring prior to
foreclosure or its equivalent, unless, after taking possession of the
property, the lender promptly takes each of the following actions in
accordance with applicable law:
(1) Suspends operations with respect to that portion of the
property where the known or suspected release or known or suspected
threatened release occurred or may occur.
(2) Removes from the suspended operations and affected areas on
the property, all hazardous material not released into the
environment and secures the suspended operations.
(3) Reports any known or suspected releases of hazardous material.
(j) Limit the application or enforcement of Section 25359.4 or
25359.5 or other state or local fencing, posting, securing,
notification, or reporting laws with regard to property that is
acquired by a lender through foreclosure or its equivalent, to the
extent that those requirements are otherwise applicable to the
property.
(k) Exempt a lender from compliance with an administrative order
requiring immediate and temporary measures to prevent, abate, or
minimize an emergency caused by a release or threatened release of
hazardous material at, from, or in connection with, any property that
has been acquired by the lender through foreclosure or its
equivalent, when all of the following circumstances exist:
(1) The release or threatened release presents an imminent and
substantial endangerment to the public health or welfare or the
environment.
(2) No other person who is viable and potentially responsible for
the release or threatened release has been identified and located by
the agency issuing the order, following a reasonable effort by the
agency to identify and locate any such person.
(3) The costs and expenses incurred by the lender to comply with
the administrative order do not exceed twenty-five thousand dollars
($25,000).
(4) If the lender complies with the administrative order, the
compliance would not, in and of itself, subject the lender to
liability for a removal or remedial action or damages, fines,
penalties, impositions, or assessments relating to the release or
threatened release under any federal law.
(l) (1) Exempt a lender who has acquired title to property through
foreclosure or its equivalent from operation and maintenance
requirements that were established on the property as a result of a
removal or remedial action conducted on the property.
(2) "Operation and maintenance requirements" include, but are not
limited to, deed restrictions and requirements to maintain passive
exposure controls and to perform monitoring. If there are
requirements other than operation and maintenance requirements, which
are applicable to the property to maintain the effectiveness of the
removal or remediation action, the lender shall comply with those
requirements unless the lender, upon foreclosure or its equivalent,
notifies the appropriate agency that it does not intend to comply
with the requirements and the agency concurs.
(m) Require a lender to conduct, or require a lender to direct the
taking of, an inspection of the property after foreclosure or its
equivalent to qualify for the exemption provided by this chapter, and
the liability of a lender shall not be based on, or affected by, the
lender not conducting, or not requiring, an inspection of the
property after foreclosure or its equivalent.
(n) Require a fiduciary to conduct or require an inspection of the
property in a fiduciary estate to qualify for the exemption provided
by this chapter and the liability of the fiduciary shall not be
based on, or affected by, the fiduciary not conducting or not
requiring an inspection prior to holding the property as part of the
fiduciary estate.