[sheet: Tracker]

Item No.	Facility	Facility Address	Diligence Item	Category	Responsible Party — C&H	Responsible Party — External	Date Initiated	Date Completed	Status	Open Issues	Notes / Cross-References
1	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Phase I ESA — TerraVerde Review and Analysis	Phase I ESA	Harrison Caldwell / Grace Nakamura	TerraVerde (Dr. Nina Sorensen / Kevin O'Malley)	2022-07-25	2022-08-20	Complete	None	TerraVerde Phase I dated August 15, 2022. Two RECs identified: REC-1 (elevated VOCs/vapor intrusion potential near Bldg C from residual subsurface contamination beneath former UST field); REC-2 (staining and stressed vegetation along eastern boundary near unlined stormwater channel). One HREC (1994 Act 2 release; NFA letter May 2001). Phase II recommended for both RECs. C&H review memo completed. Parcel ID: 0383-M-00125-0000-00.
2	Charleroi Specialty Coatings Plant	450 Industrial Park Road, Charleroi, PA 15022	Phase I ESA — TerraVerde Review and Analysis	Phase I ESA	Grace Nakamura	TerraVerde (Kevin O'Malley)	2022-07-25	2022-08-23	Complete	None	TerraVerde Phase I dated August 18, 2022. No RECs, CRECs, or HRECs identified. Greenfield site, built 2003 on former agricultural land. No Phase II recommended. C&H review memo completed. Parcel ID: 120-015-00-03-0018-00.
3	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Phase I ESA — TerraVerde Review and Analysis	Phase I ESA	Harrison Caldwell / Rafael Dominguez	TerraVerde (Kevin O'Malley)	2022-07-25	2022-08-28	Complete	None	TerraVerde Phase I dated August 22, 2022. One CREC (residual DRO with institutional controls; Harrison County Clerk, Book 1245, Page 312; WV DEP Site ID WVUST-2012-04887). One REC (staining on concrete floor in NE warehouse corner from drum storage). Phase II recommended. C&H review memo completed. Parcel ID: 04-0012-0056-0000.
4	Weirton Warehouse & Distribution Center	600 Commerce Way, Weirton, WV 26062	Phase I ESA — TerraVerde Review and Analysis	Phase I ESA	Rafael Dominguez	TerraVerde (Kevin O'Malley)	2022-07-25	2022-08-30	Complete	None	TerraVerde Phase I dated August 25, 2022. One CREC (WV VRDP Certificate of Completion, Sept 2015; deed restriction at Hancock County Clerk, Book 487, Page 89; engineering/institutional controls in place). De minimis condition noted (minor hydraulic fluid stain, ~4 SF). No Phase II recommended. C&H review memo completed. Parcel ID: 07-0304-0012-0000.
5	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Phase II Scope of Work Review — TerraVerde	Phase II ESA	Harrison Caldwell	TerraVerde (Dr. Nina Sorensen / Kevin O'Malley)	2022-08-22	2022-09-01	Complete	None	C&H comment letter sent ~Sept 1, 2022. Approved 18 soil borings and 6 temporary monitoring wells. Added sub-slab soil gas sampling beneath Bldg C for vapor intrusion (REC-1). Analytical suite: VOCs (toluene, xylene, MEK, ethylbenzene, TCE, PCE), heavy metals (chromium, lead), DRO/GRO.
6	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Phase II Field Investigation — Subsurface Sampling	Phase II ESA	Harrison Caldwell / Grace Nakamura	TerraVerde (Alicia Reyes, P.G. — Field Lead; Kevin O'Malley)	2022-09-12	2022-09-26	Complete	None	Phase II commenced Sept 12, 2022. 18 soil borings and 6 temporary monitoring wells installed and sampled. Sampling completed Sept 26, 2022. Samples submitted to lab.
7	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Phase II Laboratory Analytical Results — Receipt and Review	Phase II ESA	Harrison Caldwell / Grace Nakamura	TerraVerde (Kevin O'Malley)	2022-09-26	2022-10-14	Complete	None	Lab results received Oct 10, 2022. C&H Phase II Results Analysis Memo completed Oct 14, 2022. Key findings: Toluene in GW at MW-3: 1,420 µg/L (PA Act 2 SHS: 1,000 µg/L; 42% exceedance). Xylene in GW at MW-3: 8,200 µg/L (standard: 10,000 µg/L; below). PCE in soil at SB-7: 3.8 mg/kg (residential std: 2.4 mg/kg — exceeds; non-res std: 14 mg/kg — below). Lead in soil at SB-14: 680 mg/kg (residential std: 450 mg/kg — exceeds; non-res std: 1,000 mg/kg — below). TCE in sub-slab soil gas beneath Bldg C: 42 µg/m³ (PA DEP VI screening level: 21 µg/m³; 100% exceedance).
8	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Vapor Intrusion Risk Assessment — Building C	Phase II ESA / Risk Assessment	Harrison Caldwell	TerraVerde (Kevin O'Malley)	2022-10-10	2022-10-16	Complete	None	C&H Vapor Intrusion Risk Assessment Memo dated Oct 16, 2022. TCE at 42 µg/m³ vs. 21 µg/m³ screening level. Discusses PA DEP VI guidance, OSHA exposure limits, worker health risk, mitigation (sub-slab depressurization system), and regulatory notification obligations.
9	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Preliminary Remediation Cost Estimate	Cost Estimation	Harrison Caldwell / Grace Nakamura	TerraVerde (Dr. Nina Sorensen / Kevin O'Malley)	2022-10-10	2022-10-18	Complete	None	TerraVerde estimate dated Oct 18, 2022. Range: $1.2M–$2.8M for groundwater treatment (pump-and-treat or in-situ chemical oxidation) and vapor mitigation system (sub-slab depressurization). Estimate incorporated into Comprehensive Diligence Summary and risk allocation analysis.
10	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Landlord Consent — Mountainview Properties LLC	Lease / Property	Grace Nakamura	Gerald Boothe (Mountainview Properties LLC)	2022-09-10	2022-09-28	Complete	None	Draft landlord consent letter prepared by C&H. Finalized and sent to Gerald Boothe, Managing Member. Consent obtained prior to Phase II commencement on Oct 3, 2022. Includes access agreement, indemnification for property damage, and insurance certificate requirements.
11	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Phase II Scope of Work Review — TerraVerde	Phase II ESA	Harrison Caldwell	TerraVerde (Kevin O'Malley)	2022-09-15	2022-09-20	Complete	None	C&H comment letter sent ~Sept 20, 2022. Approved 8 soil borings and 3 temporary monitoring wells. Sampling directed for DRO, VOCs (acetone, MEK), and semi-volatiles near NE drum storage area and former UST location.
12	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Phase II Field Investigation — Subsurface Sampling	Phase II ESA	Harrison Caldwell / Rafael Dominguez	TerraVerde (Alicia Reyes / Kevin O'Malley)	2022-10-03	2022-10-07	Complete	None	Phase II commenced Oct 3, 2022. 8 soil borings and 3 temporary monitoring wells installed and sampled. Sampling completed Oct 7, 2022. Samples submitted to Keystone Analytical Laboratories Inc. (Monroeville, PA).
13	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Phase II Laboratory Analytical Results — Receipt and Review	Phase II ESA	Harrison Caldwell / Grace Nakamura	TerraVerde (Kevin O'Malley) / Keystone Analytical Laboratories Inc.	2022-10-07	Pending	Analytical results expected by Oct 28, 2022 but NOT received before deal pause. Samples remain in lab chain of custody per TerraVerde confirmation. C&H has not reviewed or analyzed results. CRITICAL OUTSTANDING ITEM.	Results must be retrieved from Keystone Labs upon deal resumption. TerraVerde (Dr. Nina Sorensen) confirmed samples remain in chain of custody. Placeholder reserved for Clarksburg Phase II Results Analysis Memo.
14	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Phase II Results Analysis Memorandum	Phase II ESA	Harrison Caldwell / Grace Nakamura	N/A	Pending	Cannot be prepared until Keystone Labs delivers analytical data. Dependent on Item 13.	Placeholder reserved in diligence file.
15	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Preliminary Remediation Cost Estimate (if contamination confirmed)	Cost Estimation	Harrison Caldwell	TerraVerde (Kevin O'Malley)	Pending	Dependent on Items 13/14. TerraVerde preliminary estimate if contamination confirmed: $350K–$750K for soil excavation/disposal; additional $150K–$400K if groundwater impacted.	Estimates to be refined upon receipt of analytical data.
16	Charleroi Specialty Coatings Plant	450 Industrial Park Road, Charleroi, PA 15022	Phase II Investigation	Phase II ESA	N/A	N/A	Not Applicable	None	Phase I identified no RECs. No Phase II recommended or conducted.
17	Weirton Warehouse & Distribution Center	600 Commerce Way, Weirton, WV 26062	Phase II Investigation	Phase II ESA	N/A	N/A	Not Applicable	None	Phase I identified only CREC (VRDP site) and de minimis condition. No Phase II recommended or conducted. Landlord consent letter to Northern Panhandle Realty Corp. (Susan Delvecchio) was drafted but not sent.
18	All Facilities	All ACC sites	RCRA Compliance Review	Regulatory Compliance	Rafael Dominguez (reviewed by Harrison Caldwell)	N/A	2022-08-01	2022-09-15	Complete	None	Memo completed. McKeesport: LQG (EPA ID PAD-098-721-445); biennial reports current through 2021; PA DEP inspection April 14, 2021 — no violations. Charleroi: SQG (EPA ID PAD-112-583-667); compliant. Clarksburg: CESQG (EPA ID WVD-054-319-882); compliant. Weirton: not a generator. Substantial compliance across all facilities.
19	All Facilities (primarily McKeesport)	All ACC sites	Clean Air Act Compliance Review	Regulatory Compliance	Harrison Caldwell	N/A	2022-08-01	2022-09-18	Complete	Title V permit modification application pending with PA DEP since March 2022 (new thermal oxidizer, Line 4). Issuance status unknown as of dormancy. Would affect post-closing operational capacity and compliance obligations.	Memo completed. McKeesport: Title V Operating Permit TV-0383-0125 (issued June 1, 2019, expires May 31, 2024); major source at 38.2 tons/yr combined HAPs (threshold: 25 tons). Charleroi: State-Only Permit 63-00982; minor source; compliant. Clarksburg: Registration Permit R13-3201; minor source; compliant.
20	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	CWA / NPDES Compliance Review	Regulatory Compliance	Grace Nakamura	N/A	2022-08-01	2022-09-12	Complete	None	Memo completed. NPDES Permit PA0025631 for stormwater discharge. March 2022 TSS exceedance: 48 mg/L reported vs. 40 mg/L limit (20% exceedance). ACC self-reported to PA DEP; no enforcement action; corrective action implemented (silt fence and additional BMP).
21	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	EPCRA / TRI / Tier II Reporting Review	Regulatory Compliance	Rafael Dominguez	N/A	2022-08-01	2022-09-14	Complete	None	Memo completed. Tier II filings with Allegheny County LEPC current. TRI Form R (2021): toluene 12,400 lbs released; xylene 8,700 lbs released. Filings current and consistent. No EPCRA enforcement history.
22	All Facilities (primarily McKeesport)	All ACC sites	Spill History and Enforcement Review	Regulatory Compliance	Harrison Caldwell	N/A	2022-08-01	2022-09-20	Complete	None	Memo completed. Two reportable spills at McKeesport in last 10 years: (1) June 14, 2017 — ~50 gal xylene from ruptured transfer hose, contained in secondary containment, NFA; (2) Feb 3, 2020 — ~120 gal epoxy resin hardener released to floor drain connected to sanitary sewer, reported to PA DEP and Allegheny County Health Dept., $4,500 fine, corrective action completed (floor drain sealed, secondary containment installed). No spills at other facilities.
23	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Asbestos and Lead-Based Paint Review	Regulatory Compliance / Building Conditions	Grace Nakamura	N/A	2022-08-15	2022-09-25	Complete	C&H flagged need for updated condition assessments; not commissioned before deal pause. Management-in-place programs ongoing per ACC protocols.	ACM identified: pipe insulation (Bldgs A & B, ~2,400 LF) and floor tiles (Bldg A, ~14,000 SF); O&M Plan dated Sept 2019. Estimated abatement: $180K–$310K if full removal required. LBP identified in office building (~1955 construction) per 2019 survey; management-in-place. Estimated LBP abatement: $45K–$85K.
24	Clarksburg Resin Blending Facility	1875 Route 50 West, Clarksburg, WV 26301	Lease Environmental Provisions Analysis — Mountainview Properties LLC	Lease / Property	Grace Nakamura	N/A	2022-08-05	2022-09-08	Complete	None	Memo completed. Lease commenced Jan 1, 2015; 15-year term expiring Dec 31, 2029; triple-net. Tenant (ACC) obligated to remediate tenant-caused contamination. Analyzed allocation of liability for pre-existing conditions (legacy diesel contamination). Implications for Crestline as successor tenant post-acquisition.

25	Weirton Warehouse & Distribution Center	600 Commerce Way, Weirton, WV 26062	Lease and VRDP Certificate Review — Northern Panhandle Realty Corp.	Lease / Property	Grace Nakamura	N/A	2022-08-05	2022-09-10	Complete	None	Memo completed. Lease commenced March 1, 2018; 10-year term expiring Feb 28, 2028; double-net; silent on environmental obligations beyond compliance with law. WV VRDP Certificate of Completion (Sept 2015). Ongoing engineering/institutional control compliance obligations assessed. Risk that successor occupant inherits VRDP maintenance obligations.
26	All Facilities	N/A	Environmental Reps & Warranties — Buyer's Initial Draft (SPA Art. IV, Sec. 4.18)	Transaction Documents	Harrison Caldwell / Beatrice Holloway	N/A	2022-08-05	2022-08-12	Complete	None	Drafted and included in SPA circulated Aug 12, 2022. Covers: environmental permits/compliance; known contamination/releases; pending/threatened proceedings; USTs; hazardous substances; asbestos/LBP; CERCLA/Superfund; environmental insurance; disclosure of all reports/assessments.
27	All Facilities	N/A	Redline Analysis — Seller's Response to Environmental Reps (Hargrove, Dalton & Speer Counter)	Transaction Documents	Harrison Caldwell / Beatrice Holloway	Hargrove, Dalton & Speer LLP (Franklin Speer / Megan Trask)	2022-09-15	2022-10-05	Complete	None	C&H redline analysis completed. Seller's deletions, knowledge qualifiers, materiality thresholds identified. Concern areas: Seller's attempt to exclude pre-1987 conditions and limit contamination reps to conditions in existing reports.
28	All Facilities	N/A	Environmental Indemnification and Escrow Provisions — C&H Draft	Transaction Documents	Beatrice Holloway / Harrison Caldwell	N/A	2022-09-20	2022-10-08	Complete	Escrow/indemnification negotiations unresolved. Last exchange: Seller's counterproposal received Oct 24, 2022 via Hargrove Dalton. Crestline's response NOT sent before deal pause.	C&H proposed: $4.0M environmental escrow; uncapped fundamental environmental indemnity for pre-closing conditions; 7-year survival; escrow release tied to remediation milestones; carve-out from general rep basket/deductible of $475K. Seller's position: $1.5M escrow; $3.5M indemnity cap; 3-year survival; $475K basket applied. Gap: $2.5M escrow difference; uncapped vs. $3.5M cap; 7 vs. 3 year survival.
29	All Facilities	N/A	Environmental Risk Allocation Negotiation Strategy Memo	Transaction Documents	Beatrice Holloway	N/A	2022-10-15	2022-10-21	Complete	Negotiation paused before Crestline's response to Seller's counter could be sent.	Internal C&H strategy memo dated Oct 21, 2022 to Derek Huang and Vanessa Moretti. Analyzes gap, recommends fallback positions, and PLL insurance as potential bridge for $2.5M escrow gap.
30	All Facilities	N/A	Comparative Analysis: Environmental Escrow vs. PLL Insurance	Transaction Documents / Insurance	Harrison Caldwell / Beatrice Holloway	N/A	2022-10-15	2022-10-22	Complete	None	Memo completed. Evaluates Ironclad Specialty indicative PLL terms ($15M agg / $10M per occ, 10-yr term, $187,500 premium, $250K SIR) against $4.0M escrow. Analyzes hybrid approach. Identifies key issues: known-conditions exclusion, pre-existing contamination definition, vapor intrusion sublimit.
31	All Facilities	N/A	PLL Insurance — Submission Package to Whitfield & Calder	Insurance	Harrison Caldwell	Whitfield & Calder (Douglas Whitfield / Lauren Petrov)	2022-10-01	2022-10-05	Complete	Clarksburg Phase II results to be supplemented when available.	Transmittal letter dated ~Oct 5, 2022. Sent Phase I ESAs (all 4 facilities), Phase II results (McKeesport), and draft Comprehensive Diligence Summary to broker for Ironclad Specialty underwriting submission.
32	All Facilities	N/A	PLL Insurance — Coverage Analysis of Ironclad Specialty Indicative Terms	Insurance	Harrison Caldwell	Ironclad Specialty Insurance Company (Sean McAllister) via Whitfield & Calder (Lauren Petrov)	2022-10-12	2022-10-19	Complete	None	Memo dated Oct 19, 2022. Reviewed indicative terms: $15M agg / $10M per occ; 10-yr term; $250K SIR; $187,500 premium. Identified gaps: known-conditions exclusion (may exclude McKeesport toluene and TCE contamination already identified); pre-existing contamination definition; vapor intrusion sublimit; defense cost erosion of limits.
33	All Facilities	N/A	PLL Insurance — Term Sheet Review and Comment Letter to Whitfield & Calder	Insurance	Harrison Caldwell	Whitfield & Calder (Lauren Petrov)	2022-10-19	2022-10-23	Complete	Underwriting paused pending deal resumption and completion of Clarksburg Phase II. Formal PLL application not submitted.	C&H comment letter dated ~Oct 23, 2022. Requests: broader pre-existing contamination coverage (to include identified Phase II conditions); removal/narrowing of known-conditions exclusion; explicit vapor intrusion coverage without sublimit; clarification of defense cost treatment.
34	All Facilities	N/A	Comprehensive Environmental Diligence Summary Memorandum (DRAFT)	Master Deliverable	Harrison Caldwell / Grace Nakamura / Beatrice Holloway	N/A	2022-10-10	In Progress	DRAFT dated Oct 22, 2022 — INCOMPLETE. Clarksburg Phase II findings not incorporated (results pending). Conclusions section remains in outline form. NOT finalized or circulated to client in final form.	Master memo to Crestline (Derek Huang / Patricia Okonkwo). Incorporates all Phase I reviews, Phase II results (McKeesport only), regulatory compliance reviews, remediation cost estimates. States environmental liability range: $1.925M (low) to $4.345M (high). Liability breakdown — Low: $1.2M McKeesport remediation + $350K Clarksburg + $180K asbestos + $45K LBP + $150K GW contingency = $1.925M. High: $2.8M + $750K + $310K + $85K + $400K = $4.345M.
35	All Facilities	N/A	Environmental Document Request to Seller's Counsel	Correspondence	Grace Nakamura	Hargrove, Dalton & Speer LLP (Franklin Speer / Megan Trask)	2022-07-25	2022-07-25	Complete	None	Letter dated July 25, 2022 requesting all environmental records (permits, compliance reports, RCRA manifests, air emission reports, NPDES DMRs, TRI filings, spill reports, remediation records, asbestos/LBP surveys, UST docs, environmental insurance policies, regulatory correspondence, prior Phase I/II ESAs).
36	All Facilities	N/A	Client Communication — Initial Environmental Diligence Plan	Correspondence	Beatrice Holloway	Derek Huang (CPS)	2022-07-21	2022-07-21	Complete	None	Letter dated July 21, 2022 outlining scope, timeline, budget, and coordination with TerraVerde for Phase I/II ESAs.
37	McKeesport Main Plant	2200 Iron Works Boulevard, McKeesport, PA 15132	Client Communication — Phase II McKeesport Results and Preliminary Risk Assessment	Correspondence	Harrison Caldwell (cc: Holloway, Nakamura)	Derek Huang / Patricia Okonkwo (CPS)	2022-10-12	2022-10-12	Complete	None	Email dated Oct 12, 2022 transmitting key Phase II findings (toluene exceedance, TCE vapor intrusion, lead in soil) and TerraVerde cost estimate ($1.2M–$2.8M). Recommended discussion of risk allocation strategy and insurance evaluation.
38	All Facilities	N/A	Letter to Seller's Counsel — Environmental Concerns and Purchase Price Adjustment Request	Correspondence	Beatrice Holloway	Hargrove, Dalton & Speer LLP (Franklin Speer)	2022-10-20	2022-10-20	Complete	None	Letter dated Oct 20, 2022 outlining environmental liabilities ($1.925M–$4.345M), supporting $4.0M escrow and enhanced indemnification (uncapped, 7-yr survival). Requested Seller's response.
39	All Facilities	N/A	Deal Pause Status Update and Preservation of Work Product	Correspondence / Administration	Beatrice Holloway	Vanessa Moretti (Briarwood) / Derek Huang (CPS)	2022-11-02	2022-11-02	Complete	N/A — final communication before dormancy	Email dated Nov 2, 2022. Summarizes status, outstanding items, document preservation measures, and 8-step resumption protocol. Matter No. 1006-00003 placed on dormant status.
40	N/A	N/A	Lender Environmental Diligence Condition — Commonwealth National Bank	Lender Coordination	Beatrice Holloway / Grace Nakamura	Victoria Chen (Commonwealth National Bank, N.A.)	2022-07-19	In Progress	Commitment letter signed July 8, 2022. Financing conditioned on satisfactory environmental diligence — Phase I ESAs on all target real property with no unaddressed RECs, or acceptable PLL insurance in place. Lender status to be reconfirmed upon deal resumption.	Proposed facility: $65M senior secured term loan + $20M revolving credit facility. Equity contribution from Briarwood Fund IV: $9.5M.

[sheet: Summary Dashboard]

Metric	Value
Matter Number	1006-00003
Client	Crestline Packaging Solutions LLC
Target	Allegheny Chemical Coatings, Inc.
Proposed Purchase Price	$94,500,000
Last Updated	October 28, 2022
Updated By	Grace Nakamura
Engagement Status	DORMANT

STATUS SUMMARY

Total Diligence Items	40
Complete	33
In Progress	3
Pending	3
Not Applicable	2

FACILITY STATUS SUMMARY

McKeesport Main Plant — Items Complete	All Phase I/Phase II/regulatory items complete
Charleroi Specialty Coatings — Items Complete	All items complete; no Phase II required
Clarksburg Resin Blending — Outstanding	Phase II lab results PENDING; analysis memo PENDING; remediation estimate PENDING
Weirton Warehouse — Items Complete	All items complete; no Phase II required

CRITICAL OUTSTANDING ITEMS

1. Clarksburg Phase II Analytical Results	Samples at Keystone Analytical Laboratories Inc. (Monroeville, PA); expected Oct 28, 2022; NOT received; chain of custody confirmed by TerraVerde
2. Clarksburg Phase II Results Analysis Memo	Cannot be prepared until lab data received
3. Comprehensive Environmental Diligence Summary	DRAFT dated Oct 22, 2022 — incomplete; Clarksburg data missing; conclusions in outline only; not circulated to client
4. PLL Insurance Underwriting	Ironclad Specialty non-binding indication only; formal application not submitted; underwriting paused
5. Environmental Escrow/Indemnification Negotiations	Last exchange: Seller's counter received Oct 24, 2022; Crestline response NOT sent
6. Title V Permit Modification (McKeesport)	Application pending with PA DEP since March 2022; status unknown
7. Asbestos/LBP Updated Condition Assessments	Need flagged but not commissioned before pause

ENVIRONMENTAL LIABILITY ESTIMATES

Total Estimated Liabilities (Low)	$1,925,000
Total Estimated Liabilities (High)	$4,345,000
McKeesport Remediation (Low / High)	$1,200,000 / $2,800,000
Clarksburg Remediation — Soil (Low / High)	$350,000 / $750,000
Clarksburg Remediation — GW Contingency (Low / High)	$150,000 / $400,000
Asbestos Abatement (Low / High)	$180,000 / $310,000
Lead-Based Paint Abatement (Low / High)	$45,000 / $85,000

ESCROW / INDEMNITY NEGOTIATION GAP

Crestline Proposed Escrow	$4,000,000
Seller Proposed Escrow	$1,500,000
Escrow Gap	$2,500,000
Crestline Proposed Indemnity Cap	Uncapped (fundamental environmental indemnity)
Seller Proposed Indemnity Cap	$3,500,000
Crestline Proposed Survival Period	7 years
Seller Proposed Survival Period	3 years
General Rep Basket/Deductible	$475,000

PLL INSURANCE (INDICATIVE — NOT BOUND)

Proposed Carrier	Ironclad Specialty Insurance Company
Policy Limit	$15M aggregate / $10M per occurrence
Policy Term	10 years
Premium (Indicative)	$187,500
Self-Insured Retention	$250,000
Status	Non-binding indication only; underwriting paused

PROFESSIONAL FEES

C&H Total Fees Through Oct 31, 2022	$218,740 (net of $100 billing adjustment)
C&H Disbursements	$4,215
TerraVerde Fees Through Oct 2022	$127,500
Phase I ESAs (4 × $4,500)	$18,000
Phase II McKeesport	$72,000
Phase II Clarksburg	$37,500
Combined Professional Fees	$350,455

[sheet: Facility Summary]

Data Point	Facility 1 — McKeesport Main Plant	Facility 2 — Charleroi Specialty Coatings	Facility 3 — Clarksburg Resin Blending	Facility 4 — Weirton Warehouse & Distribution
Address	2200 Iron Works Boulevard, McKeesport, PA 15132	450 Industrial Park Road, Charleroi, PA 15022	1875 Route 50 West, Clarksburg, WV 26301	600 Commerce Way, Weirton, WV 26062
County / State	Allegheny County, PA	Washington County, PA	Harrison County, WV	Hancock County, WV
Parcel ID	0383-M-00125-0000-00	120-015-00-03-0018-00	04-0012-0056-0000	07-0304-0012-0000
Acreage	14.3 acres	8.7 acres	5.2 acres	3.1 acres
Building SF	~185,000 SF mfg; ~12,000 SF office	~92,000 SF mfg; ~4,500 SF office/lab	~48,000 SF warehouse/blending; ~3,000 SF office	~65,000 SF warehouse; ~2,000 SF office
Operations	Primary solvent-based and epoxy coating manufacturing; mixing, blending, filling	Water-based and UV-curable coatings; newer facility (2003)	Resin receipt, blending, redistribution; minimal manufacturing	Finished goods storage and distribution; no manufacturing
Ownership	Owned in fee simple by ACC since 1987	Owned in fee simple by ACC since 2003	Leased from Mountainview Properties LLC (Gerald Boothe); Jan 1, 2015 – Dec 31, 2029; triple-net	Leased from Northern Panhandle Realty Corp. (Susan Delvecchio); March 1, 2018 – Feb 28, 2028; double-net
Prior Use	Former steel fabrication (Keystone Metalworks, defunct, pre-1987)	Former agricultural land (greenfield)	Former trucking terminal (1968–2012; Valley Freight Lines Inc., dissolved)	Remediated brownfield (former Weirton Steel parcel)
RCRA Generator Status	LQG — EPA ID PAD-098-721-445	SQG — EPA ID PAD-112-583-667	CESQG — EPA ID WVD-054-319-882	Not a generator
Air Permit	Title V Permit TV-0383-0125 (issued 6/1/2019, expires 5/31/2024); major source (38.2 tons/yr HAPs; threshold 25 tons); permit mod pending (thermal oxidizer, Line 4, applied March 2022)	State-Only Permit 63-00982; minor source; compliant	Registration Permit R13-3201; minor source; compliant	N/A
NPDES Permit	PA0025631 (stormwater); March 2022 TSS exceedance (48 mg/L vs. 40 mg/L limit; 20%); self-reported; corrective action implemented	N/A	N/A	N/A
Phase I ESA Date	August 15, 2022	August 18, 2022	August 22, 2022	August 25, 2022
Phase I Findings — RECs	REC-1: VOC/vapor intrusion near Bldg C (former UST field); REC-2: Staining/stressed vegetation along eastern boundary (drum storage area)	None	One REC: Staining on concrete floor in NE warehouse corner (drum storage)	None
Phase I Findings — CRECs	None	None	One CREC: Residual DRO with institutional controls (WV DEP WVUST-2012-04887; Harrison Co. Clerk, Book 1245, Pg 312)	One CREC: WV VRDP Certificate of Completion (Sept 2015); deed restriction (Hancock Co. Clerk, Book 487, Pg 89)
Phase I Findings — HRECs	One HREC: 1994 Act 2 release (former USTs removed 1993); NFA letter May 2001	None	None	None
Phase I Findings — De Minimis	None noted	None noted	None noted	Minor hydraulic fluid stain (~4 SF)
Phase II Conducted?	Yes	No — not recommended	Yes	No — not recommended
Phase II Status	Complete — results received Oct 10, 2022; analysis memo completed Oct 14, 2022	N/A	Field work complete Oct 7, 2022; ANALYTICAL RESULTS PENDING from Keystone Labs	N/A
Phase II Key Findings	Toluene in GW at MW-3: 1,420 µg/L (std: 1,000 µg/L — 42% exceedance); Xylene in GW at MW-3: 8,200 µg/L (std: 10,000 µg/L — below); PCE in soil at SB-7: 3.8 mg/kg (res std: 2.4 mg/kg — exceeds; non-res std: 14 mg/kg — below); Lead in soil at SB-14: 680 mg/kg (res std: 450 mg/kg — exceeds; non-res std: 1,000 mg/kg — below); TCE in sub-slab soil gas Bldg C: 42 µg/m³ (VI screening: 21 µg/m³ — 100% exceedance)	N/A	PENDING	N/A
Estimated Remediation Cost	$1.2M–$2.8M (GW treatment + vapor mitigation); TerraVerde estimate dated Oct 18, 2022	N/A	If contamination confirmed: $350K–$750K (soil); $150K–$400K additional (if GW impacted)	N/A
Asbestos	ACM in pipe insulation (Bldgs A&B, ~2,400 LF) and floor tiles (Bldg A, ~14,000 SF); O&M Plan Sept 2019; abatement est. $180K–$310K	None identified	Not assessed	Not assessed
Lead-Based Paint	LBP on interior/exterior surfaces of office bldg (~1955); 2019 survey; abatement est. $45K–$85K	None identified (2003 construction)	Not assessed	Not assessed (2016 construction)
Spill History	June 14, 2017: ~50 gal xylene (contained, NFA); Feb 3, 2020: ~120 gal epoxy hardener to floor drain/sewer ($4,500 fine, corrected)	None	None reported by ACC	None
CERCLA/Superfund	Not on NPL; within 0.5 mi of former Irwin Iron & Steel Superfund site (NPL 1989, ROD 1996, construction complete 2004); no evidence of connection	Not applicable	Not applicable	Not applicable

Risk Rating

[sheet: Key Dates]

Date	Event	Facility / Scope	Notes
1987	ACC incorporated; acquired McKeesport facility from Keystone Metalworks (defunct)	McKeesport	Former steel fabrication site
1993	USTs removed at McKeesport (3 tanks, 10,000 gal each)	McKeesport
1994	PA DEP Act 2 filing opened	McKeesport	Related to former USTs
2001-05-01	NFA letter issued under Statewide Health Standard for soils	McKeesport	Act 2 closure — HREC
2003	Charleroi facility constructed and opened	Charleroi	Greenfield on former agricultural land
2004-03-15	Kessler Family Trust established	N/A	The Walter G. Kessler Revocable Trust
2012	Diesel UST (15,000 gal) removed at Clarksburg by prior tenant (Valley Freight Lines Inc., dissolved)	Clarksburg	WV DEP Site ID WVUST-2012-04887
2013-03-01	WV DEP closure letter issued for Clarksburg UST; residual DRO above action levels; institutional controls recorded (Harrison Co. Clerk, Book 1245, Pg 312)	Clarksburg	CREC basis
2015-01-01	ACC Clarksburg lease commenced with Mountainview Properties LLC	Clarksburg	15-year term; triple-net
2015-09-01	WV VRDP Certificate of Completion issued (Weirton); deed restriction recorded (Hancock Co. Clerk, Book 487, Pg 89)	Weirton	CREC basis
2016	Weirton warehouse constructed	Weirton	On remediated brownfield
2017-06-14	Xylene spill at McKeesport (~50 gal; contained in secondary containment; NFA)	McKeesport	Reportable spill #1
2018-03-01	ACC Weirton lease commenced with Northern Panhandle Realty Corp.	Weirton	10-year term; double-net
2019-06-01	Title V Operating Permit TV-0383-0125 issued	McKeesport	Expires May 31, 2024
2019-09-01	Asbestos O&M Plan prepared	McKeesport	Management-in-place program
2020-02-03	Epoxy resin hardener release (~120 gal to floor drain/sewer); $4,500 PA DEP fine; corrective action completed	McKeesport	Reportable spill #2
2021-04-14	PA DEP RCRA inspection at McKeesport — no violations	McKeesport	LQG inspection
2022-03-01	Title V permit modification application submitted (new thermal oxidizer, Line 4)	McKeesport	Status pending as of dormancy
2022-03-01	NPDES TSS exceedance (48 mg/L vs. 40 mg/L); self-reported; corrective action	McKeesport
2022-07-08	Commonwealth National Bank commitment letter signed	Transaction	$65M term loan + $20M revolver; environmental diligence condition
2022-07-19	C&H engagement opened (Matter No. 1006-00003)	All	Environmental diligence workstream
2022-07-21	Initial Environmental Diligence Plan sent to Derek Huang (CPS)	All	Scope, timeline, budget
2022-07-25	Environmental Document Request sent to Hargrove, Dalton & Speer	All	Formal records request
2022-08-12	Draft Stock Purchase Agreement circulated	Transaction	Art. IV, Sec. 4.18 environmental reps included

2022-08-15	Phase I ESA completed — McKeesport (TerraVerde)	McKeesport	2 RECs, 1 HREC
2022-08-18	Phase I ESA completed — Charleroi (TerraVerde)	Charleroi	No RECs/CRECs/HRECs
2022-08-22	Phase I ESA completed — Clarksburg (TerraVerde)	Clarksburg	1 CREC, 1 REC
2022-08-25	Phase I ESA completed — Weirton (TerraVerde)	Weirton	1 CREC, de minimis
2022-09-01	Phase II SOW review letter sent — McKeesport	McKeesport	18 borings, 6 wells, sub-slab gas sampling approved
2022-09-12	Phase II investigation commenced — McKeesport	McKeesport
2022-09-20	Phase II SOW review letter sent — Clarksburg	Clarksburg	8 borings, 3 wells
2022-09-26	Phase II sampling completed — McKeesport	McKeesport
2022-09-28	Landlord consent obtained — Clarksburg (Mountainview Properties LLC)	Clarksburg	Access agreement and indemnification finalized
2022-10-03	Phase II investigation commenced — Clarksburg	Clarksburg	Landlord consent obtained
2022-10-05	PLL insurance submission package sent to Whitfield & Calder	Insurance
2022-10-07	Phase II sampling completed — Clarksburg	Clarksburg	Samples to Keystone Analytical Labs
2022-10-10	Phase II lab results received — McKeesport	McKeesport	Multiple exceedances identified
2022-10-12	Email to client — Phase II McKeesport results and risk assessment	McKeesport	To Derek Huang / Patricia Okonkwo
2022-10-14	Phase II Results Analysis Memo completed — McKeesport	McKeesport
2022-10-16	Vapor Intrusion Risk Assessment Memo completed — McKeesport Bldg C	McKeesport	TCE 42 µg/m³ vs. 21 µg/m³ screening level
2022-10-18	TerraVerde preliminary remediation cost estimate — McKeesport	McKeesport	$1.2M–$2.8M
2022-10-19	PLL Coverage Analysis Memo completed	Insurance	Ironclad Specialty indicative terms reviewed
2022-10-20	Letter to Hargrove, Dalton & Speer — environmental concerns and $4.0M escrow request	Transaction
2022-10-21	Environmental Risk Allocation Negotiation Strategy Memo completed	Transaction	Internal C&H strategy
2022-10-22	Comprehensive Environmental Diligence Summary — DRAFT (incomplete)	All	Clarksburg data missing; conclusions in outline
2022-10-23	PLL Term Sheet Review and Comment Letter sent to Whitfield & Calder	Insurance	Coverage gap comments
2022-10-24	Seller's counterproposal on environmental escrow/indemnification received (via Hargrove Dalton)	Transaction	$1.5M escrow / $3.5M cap / 3-yr survival; Crestline response NOT sent
2022-10-28	Deal negotiations paused; Clarksburg Phase II results not yet received	All	Status tracker last updated this date
2022-10-31	C&H final invoice before dormancy (Invoice #48217, $67,430)	Billing	Paid January 15, 2023

2022-11-02	Deal pause status update email sent to Vanessa Moretti and Derek Huang	All	Resumption protocol described
2022-11-04	Matter Dormancy Memorandum issued; Document Preservation & Hold Notice issued	Administrative	Matter placed on dormant status
2022-12-31	Exclusivity period expired	Transaction	Informal standstill in effect
2023-01-15	Final C&H invoice (Invoice #48217) paid	Billing	No amounts currently outstanding

[sheet: Billing Summary]

Timekeeper / Vendor	Role	Rate ($/hr)	Hours	Total Fees	Notes
Beatrice Holloway	Responsible Partner (M&A)	$895	42.5	$38,037.50
James Prentice	Billing Partner (M&A)	$895	18.0	$16,110.00
Harrison Caldwell	Of Counsel (Environmental & Land Use)	$725	87.0	$63,075.00
Grace Nakamura	Lead Associate (Real Estate)	$625	96.5	$60,312.50
Rafael Dominguez	Working Associate (Real Estate)	$495	72.0	$35,640.00
Simone Estrada	Paralegal	$275	20.6	$5,665.00
C&H Gross Fees	336.6	$218,840.00	Sum of all timekeepers
Billing Adjustment Credit	-$100.00
C&H Net Fees	$218,740.00
C&H Disbursements	$4,215.00	Westmark Data Systems $2,180; Travel to McKeesport $1,435; Overnight courier $312; Filing/recording searches $288
C&H Total (Fees + Disbursements)	$222,955.00	$218,740 + $4,215
TerraVerde — Phase I ESAs (4 facilities × $4,500)	Environmental Consultant	$18,000.00	McKeesport, Charleroi, Clarksburg, Weirton
TerraVerde — Phase II McKeesport	Environmental Consultant	$72,000.00	18 borings, 6 wells, sub-slab gas sampling
TerraVerde — Phase II Clarksburg	Environmental Consultant	$37,500.00	8 borings, 3 wells
TerraVerde Total	$127,500.00	Invoiced through October 2022; direct client engagement
COMBINED TOTAL (C&H + TerraVerde)	$350,455.00	$222,955 + $127,500
Outstanding Invoices	$0.00	Invoice #48217 ($67,430 for Sept–Oct fees) paid Jan 15, 2023; no amounts currently outstanding

[sheet: Tracker]
Item No. | Facility | Facility Address | Diligence Item | Category | Responsible Party — C&H | Responsible Party — External | Date Initiated | Date Completed | Status | Open Issues | Notes / Cross-References
1 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Phase I ESA — TerraVerde Review and Analysis | Phase I ESA | Harrison Caldwell / Grace Nakamura | TerraVerde (Dr. Nina Sorensen / Kevin O'Malley) | 2022-07-25 | 2022-08-20 | Complete | None | TerraVerde Phase I dated August 15, 2022. Two RECs identified: REC-1 (elevated VOCs/vapor intrusion potential near Bldg C from residual subsurface contamination beneath former UST field); REC-2 (staining and stressed vegetation along eastern boundary near unlined stormwater channel). One HREC (1994 Act 2 release; NFA letter May 2001). Phase II recommended for both RECs. C&H review memo completed. Parcel ID: 0383-M-00125-0000-00.
2 | Charleroi Specialty Coatings Plant | 450 Industrial Park Road, Charleroi, PA 15022 | Phase I ESA — TerraVerde Review and Analysis | Phase I ESA | Grace Nakamura | TerraVerde (Kevin O'Malley) | 2022-07-25 | 2022-08-23 | Complete | None | TerraVerde Phase I dated August 18, 2022. No RECs, CRECs, or HRECs identified. Greenfield site, built 2003 on former agricultural land. No Phase II recommended. C&H review memo completed. Parcel ID: 120-015-00-03-0018-00.
3 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Phase I ESA — TerraVerde Review and Analysis | Phase I ESA | Harrison Caldwell / Rafael Dominguez | TerraVerde (Kevin O'Malley) | 2022-07-25 | 2022-08-28 | Complete | None | TerraVerde Phase I dated August 22, 2022. One CREC (residual DRO with institutional controls; Harrison County Clerk, Book 1245, Page 312; WV DEP Site ID WVUST-2012-04887). One REC (staining on concrete floor in NE warehouse corner from drum storage). Phase II recommended. C&H review memo completed. Parcel ID: 04-0012-0056-0000.
4 | Weirton Warehouse & Distribution Center | 600 Commerce Way, Weirton, WV 26062 | Phase I ESA — TerraVerde Review and Analysis | Phase I ESA | Rafael Dominguez | TerraVerde (Kevin O'Malley) | 2022-07-25 | 2022-08-30 | Complete | None | TerraVerde Phase I dated August 25, 2022. One CREC (WV VRDP Certificate of Completion, Sept 2015; deed restriction at Hancock County Clerk, Book 487, Page 89; engineering/institutional controls in place). De minimis condition noted (minor hydraulic fluid stain, ~4 SF). No Phase II recommended. C&H review memo completed. Parcel ID: 07-0304-0012-0000.
5 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Phase II Scope of Work Review — TerraVerde | Phase II ESA | Harrison Caldwell | TerraVerde (Dr. Nina Sorensen / Kevin O'Malley) | 2022-08-22 | 2022-09-01 | Complete | None | C&H comment letter sent ~Sept 1, 2022. Approved 18 soil borings and 6 temporary monitoring wells. Added sub-slab soil gas sampling beneath Bldg C for vapor intrusion (REC-1). Analytical suite: VOCs (toluene, xylene, MEK, ethylbenzene, TCE, PCE), heavy metals (chromium, lead), DRO/GRO.
6 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Phase II Field Investigation — Subsurface Sampling | Phase II ESA | Harrison Caldwell / Grace Nakamura | TerraVerde (Alicia Reyes, P.G. — Field Lead; Kevin O'Malley) | 2022-09-12 | 2022-09-26 | Complete | None | Phase II commenced Sept 12, 2022. 18 soil borings and 6 temporary monitoring wells installed and sampled. Sampling completed Sept 26, 2022. Samples submitted to lab.
7 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Phase II Laboratory Analytical Results — Receipt and Review | Phase II ESA | Harrison Caldwell / Grace Nakamura | TerraVerde (Kevin O'Malley) | 2022-09-26 | 2022-10-14 | Complete | None | Lab results received Oct 10, 2022. C&H Phase II Results Analysis Memo completed Oct 14, 2022. Key findings: Toluene in GW at MW-3: 1,420 µg/L (PA Act 2 SHS: 1,000 µg/L; 42% exceedance). Xylene in GW at MW-3: 8,200 µg/L (standard: 10,000 µg/L; below). PCE in soil at SB-7: 3.8 mg/kg (residential std: 2.4 mg/kg — exceeds; non-res std: 14 mg/kg — below). Lead in soil at SB-14: 680 mg/kg (residential std: 450 mg/kg — exceeds; non-res std: 1,000 mg/kg — below). TCE in sub-slab soil gas beneath Bldg C: 42 µg/m³ (PA DEP VI screening level: 21 µg/m³; 100% exceedance).
8 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Vapor Intrusion Risk Assessment — Building C | Phase II ESA / Risk Assessment | Harrison Caldwell | TerraVerde (Kevin O'Malley) | 2022-10-10 | 2022-10-16 | Complete | None | C&H Vapor Intrusion Risk Assessment Memo dated Oct 16, 2022. TCE at 42 µg/m³ vs. 21 µg/m³ screening level. Discusses PA DEP VI guidance, OSHA exposure limits, worker health risk, mitigation (sub-slab depressurization system), and regulatory notification obligations.
9 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Preliminary Remediation Cost Estimate | Cost Estimation | Harrison Caldwell / Grace Nakamura | TerraVerde (Dr. Nina Sorensen / Kevin O'Malley) | 2022-10-10 | 2022-10-18 | Complete | None | TerraVerde estimate dated Oct 18, 2022. Range: $1.2M–$2.8M for groundwater treatment (pump-and-treat or in-situ chemical oxidation) and vapor mitigation system (sub-slab depressurization). Estimate incorporated into Comprehensive Diligence Summary and risk allocation analysis.
10 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Landlord Consent — Mountainview Properties LLC | Lease / Property | Grace Nakamura | Gerald Boothe (Mountainview Properties LLC) | 2022-09-10 | 2022-09-28 | Complete | None | Draft landlord consent letter prepared by C&H. Finalized and sent to Gerald Boothe, Managing Member. Consent obtained prior to Phase II commencement on Oct 3, 2022. Includes access agreement, indemnification for property damage, and insurance certificate requirements.
11 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Phase II Scope of Work Review — TerraVerde | Phase II ESA | Harrison Caldwell | TerraVerde (Kevin O'Malley) | 2022-09-15 | 2022-09-20 | Complete | None | C&H comment letter sent ~Sept 20, 2022. Approved 8 soil borings and 3 temporary monitoring wells. Sampling directed for DRO, VOCs (acetone, MEK), and semi-volatiles near NE drum storage area and former UST location.
12 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Phase II Field Investigation — Subsurface Sampling | Phase II ESA | Harrison Caldwell / Rafael Dominguez | TerraVerde (Alicia Reyes / Kevin O'Malley) | 2022-10-03 | 2022-10-07 | Complete | None | Phase II commenced Oct 3, 2022. 8 soil borings and 3 temporary monitoring wells installed and sampled. Sampling completed Oct 7, 2022. Samples submitted to Keystone Analytical Laboratories Inc. (Monroeville, PA).
13 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Phase II Laboratory Analytical Results — Receipt and Review | Phase II ESA | Harrison Caldwell / Grace Nakamura | TerraVerde (Kevin O'Malley) / Keystone Analytical Laboratories Inc. | 2022-10-07 | Pending | Analytical results expected by Oct 28, 2022 but NOT received before deal pause. Samples remain in lab chain of custody per TerraVerde confirmation. C&H has not reviewed or analyzed results. CRITICAL OUTSTANDING ITEM. | Results must be retrieved from Keystone Labs upon deal resumption. TerraVerde (Dr. Nina Sorensen) confirmed samples remain in chain of custody. Placeholder reserved for Clarksburg Phase II Results Analysis Memo.
14 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Phase II Results Analysis Memorandum | Phase II ESA | Harrison Caldwell / Grace Nakamura | N/A | Pending | Cannot be prepared until Keystone Labs delivers analytical data. Dependent on Item 13. | Placeholder reserved in diligence file.
15 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Preliminary Remediation Cost Estimate (if contamination confirmed) | Cost Estimation | Harrison Caldwell | TerraVerde (Kevin O'Malley) | Pending | Dependent on Items 13/14. TerraVerde preliminary estimate if contamination confirmed: $350K–$750K for soil excavation/disposal; additional $150K–$400K if groundwater impacted. | Estimates to be refined upon receipt of analytical data.
16 | Charleroi Specialty Coatings Plant | 450 Industrial Park Road, Charleroi, PA 15022 | Phase II Investigation | Phase II ESA | N/A | N/A | Not Applicable | None | Phase I identified no RECs. No Phase II recommended or conducted.
17 | Weirton Warehouse & Distribution Center | 600 Commerce Way, Weirton, WV 26062 | Phase II Investigation | Phase II ESA | N/A | N/A | Not Applicable | None | Phase I identified only CREC (VRDP site) and de minimis condition. No Phase II recommended or conducted. Landlord consent letter to Northern Panhandle Realty Corp. (Susan Delvecchio) was drafted but not sent.
18 | All Facilities | All ACC sites | RCRA Compliance Review | Regulatory Compliance | Rafael Dominguez (reviewed by Harrison Caldwell) | N/A | 2022-08-01 | 2022-09-15 | Complete | None | Memo completed. McKeesport: LQG (EPA ID PAD-098-721-445); biennial reports current through 2021; PA DEP inspection April 14, 2021 — no violations. Charleroi: SQG (EPA ID PAD-112-583-667); compliant. Clarksburg: CESQG (EPA ID WVD-054-319-882); compliant. Weirton: not a generator. Substantial compliance across all facilities.
19 | All Facilities (primarily McKeesport) | All ACC sites | Clean Air Act Compliance Review | Regulatory Compliance | Harrison Caldwell | N/A | 2022-08-01 | 2022-09-18 | Complete | Title V permit modification application pending with PA DEP since March 2022 (new thermal oxidizer, Line 4). Issuance status unknown as of dormancy. Would affect post-closing operational capacity and compliance obligations. | Memo completed. McKeesport: Title V Operating Permit TV-0383-0125 (issued June 1, 2019, expires May 31, 2024); major source at 38.2 tons/yr combined HAPs (threshold: 25 tons). Charleroi: State-Only Permit 63-00982; minor source; compliant. Clarksburg: Registration Permit R13-3201; minor source; compliant.
20 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | CWA / NPDES Compliance Review | Regulatory Compliance | Grace Nakamura | N/A | 2022-08-01 | 2022-09-12 | Complete | None | Memo completed. NPDES Permit PA0025631 for stormwater discharge. March 2022 TSS exceedance: 48 mg/L reported vs. 40 mg/L limit (20% exceedance). ACC self-reported to PA DEP; no enforcement action; corrective action implemented (silt fence and additional BMP).
21 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | EPCRA / TRI / Tier II Reporting Review | Regulatory Compliance | Rafael Dominguez | N/A | 2022-08-01 | 2022-09-14 | Complete | None | Memo completed. Tier II filings with Allegheny County LEPC current. TRI Form R (2021): toluene 12,400 lbs released; xylene 8,700 lbs released. Filings current and consistent. No EPCRA enforcement history.
22 | All Facilities (primarily McKeesport) | All ACC sites | Spill History and Enforcement Review | Regulatory Compliance | Harrison Caldwell | N/A | 2022-08-01 | 2022-09-20 | Complete | None | Memo completed. Two reportable spills at McKeesport in last 10 years: (1) June 14, 2017 — ~50 gal xylene from ruptured transfer hose, contained in secondary containment, NFA; (2) Feb 3, 2020 — ~120 gal epoxy resin hardener released to floor drain connected to sanitary sewer, reported to PA DEP and Allegheny County Health Dept., $4,500 fine, corrective action completed (floor drain sealed, secondary containment installed). No spills at other facilities.
23 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Asbestos and Lead-Based Paint Review | Regulatory Compliance / Building Conditions | Grace Nakamura | N/A | 2022-08-15 | 2022-09-25 | Complete | C&H flagged need for updated condition assessments; not commissioned before deal pause. Management-in-place programs ongoing per ACC protocols. | ACM identified: pipe insulation (Bldgs A & B, ~2,400 LF) and floor tiles (Bldg A, ~14,000 SF); O&M Plan dated Sept 2019. Estimated abatement: $180K–$310K if full removal required. LBP identified in office building (~1955 construction) per 2019 survey; management-in-place. Estimated LBP abatement: $45K–$85K.
24 | Clarksburg Resin Blending Facility | 1875 Route 50 West, Clarksburg, WV 26301 | Lease Environmental Provisions Analysis — Mountainview Properties LLC | Lease / Property | Grace Nakamura | N/A | 2022-08-05 | 2022-09-08 | Complete | None | Memo completed. Lease commenced Jan 1, 2015; 15-year term expiring Dec 31, 2029; triple-net. Tenant (ACC) obligated to remediate tenant-caused contamination. Analyzed allocation of liability for pre-existing conditions (legacy diesel contamination). Implications for Crestline as successor tenant post-acquisition.
25 | Weirton Warehouse & Distribution Center | 600 Commerce Way, Weirton, WV 26062 | Lease and VRDP Certificate Review — Northern Panhandle Realty Corp. | Lease / Property | Grace Nakamura | N/A | 2022-08-05 | 2022-09-10 | Complete | None | Memo completed. Lease commenced March 1, 2018; 10-year term expiring Feb 28, 2028; double-net; silent on environmental obligations beyond compliance with law. WV VRDP Certificate of Completion (Sept 2015). Ongoing engineering/institutional control compliance obligations assessed. Risk that successor occupant inherits VRDP maintenance obligations.
26 | All Facilities | N/A | Environmental Reps & Warranties — Buyer's Initial Draft (SPA Art. IV, Sec. 4.18) | Transaction Documents | Harrison Caldwell / Beatrice Holloway | N/A | 2022-08-05 | 2022-08-12 | Complete | None | Drafted and included in SPA circulated Aug 12, 2022. Covers: environmental permits/compliance; known contamination/releases; pending/threatened proceedings; USTs; hazardous substances; asbestos/LBP; CERCLA/Superfund; environmental insurance; disclosure of all reports/assessments.
27 | All Facilities | N/A | Redline Analysis — Seller's Response to Environmental Reps (Hargrove, Dalton & Speer Counter) | Transaction Documents | Harrison Caldwell / Beatrice Holloway | Hargrove, Dalton & Speer LLP (Franklin Speer / Megan Trask) | 2022-09-15 | 2022-10-05 | Complete | None | C&H redline analysis completed. Seller's deletions, knowledge qualifiers, materiality thresholds identified. Concern areas: Seller's attempt to exclude pre-1987 conditions and limit contamination reps to conditions in existing reports.
28 | All Facilities | N/A | Environmental Indemnification and Escrow Provisions — C&H Draft | Transaction Documents | Beatrice Holloway / Harrison Caldwell | N/A | 2022-09-20 | 2022-10-08 | Complete | Escrow/indemnification negotiations unresolved. Last exchange: Seller's counterproposal received Oct 24, 2022 via Hargrove Dalton. Crestline's response NOT sent before deal pause. | C&H proposed: $4.0M environmental escrow; uncapped fundamental environmental indemnity for pre-closing conditions; 7-year survival; escrow release tied to remediation milestones; carve-out from general rep basket/deductible of $475K. Seller's position: $1.5M escrow; $3.5M indemnity cap; 3-year survival; $475K basket applied. Gap: $2.5M escrow difference; uncapped vs. $3.5M cap; 7 vs. 3 year survival.
29 | All Facilities | N/A | Environmental Risk Allocation Negotiation Strategy Memo | Transaction Documents | Beatrice Holloway | N/A | 2022-10-15 | 2022-10-21 | Complete | Negotiation paused before Crestline's response to Seller's counter could be sent. | Internal C&H strategy memo dated Oct 21, 2022 to Derek Huang and Vanessa Moretti. Analyzes gap, recommends fallback positions, and PLL insurance as potential bridge for $2.5M escrow gap.
30 | All Facilities | N/A | Comparative Analysis: Environmental Escrow vs. PLL Insurance | Transaction Documents / Insurance | Harrison Caldwell / Beatrice Holloway | N/A | 2022-10-15 | 2022-10-22 | Complete | None | Memo completed. Evaluates Ironclad Specialty indicative PLL terms ($15M agg / $10M per occ, 10-yr term, $187,500 premium, $250K SIR) against $4.0M escrow. Analyzes hybrid approach. Identifies key issues: known-conditions exclusion, pre-existing contamination definition, vapor intrusion sublimit.
31 | All Facilities | N/A | PLL Insurance — Submission Package to Whitfield & Calder | Insurance | Harrison Caldwell | Whitfield & Calder (Douglas Whitfield / Lauren Petrov) | 2022-10-01 | 2022-10-05 | Complete | Clarksburg Phase II results to be supplemented when available. | Transmittal letter dated ~Oct 5, 2022. Sent Phase I ESAs (all 4 facilities), Phase II results (McKeesport), and draft Comprehensive Diligence Summary to broker for Ironclad Specialty underwriting submission.
32 | All Facilities | N/A | PLL Insurance — Coverage Analysis of Ironclad Specialty Indicative Terms | Insurance | Harrison Caldwell | Ironclad Specialty Insurance Company (Sean McAllister) via Whitfield & Calder (Lauren Petrov) | 2022-10-12 | 2022-10-19 | Complete | None | Memo dated Oct 19, 2022. Reviewed indicative terms: $15M agg / $10M per occ; 10-yr term; $250K SIR; $187,500 premium. Identified gaps: known-conditions exclusion (may exclude McKeesport toluene and TCE contamination already identified); pre-existing contamination definition; vapor intrusion sublimit; defense cost erosion of limits.
33 | All Facilities | N/A | PLL Insurance — Term Sheet Review and Comment Letter to Whitfield & Calder | Insurance | Harrison Caldwell | Whitfield & Calder (Lauren Petrov) | 2022-10-19 | 2022-10-23 | Complete | Underwriting paused pending deal resumption and completion of Clarksburg Phase II. Formal PLL application not submitted. | C&H comment letter dated ~Oct 23, 2022. Requests: broader pre-existing contamination coverage (to include identified Phase II conditions); removal/narrowing of known-conditions exclusion; explicit vapor intrusion coverage without sublimit; clarification of defense cost treatment.
34 | All Facilities | N/A | Comprehensive Environmental Diligence Summary Memorandum (DRAFT) | Master Deliverable | Harrison Caldwell / Grace Nakamura / Beatrice Holloway | N/A | 2022-10-10 | In Progress | DRAFT dated Oct 22, 2022 — INCOMPLETE. Clarksburg Phase II findings not incorporated (results pending). Conclusions section remains in outline form. NOT finalized or circulated to client in final form. | Master memo to Crestline (Derek Huang / Patricia Okonkwo). Incorporates all Phase I reviews, Phase II results (McKeesport only), regulatory compliance reviews, remediation cost estimates. States environmental liability range: $1.925M (low) to $4.345M (high). Liability breakdown — Low: $1.2M McKeesport remediation + $350K Clarksburg + $180K asbestos + $45K LBP + $150K GW contingency = $1.925M. High: $2.8M + $750K + $310K + $85K + $400K = $4.345M.
35 | All Facilities | N/A | Environmental Document Request to Seller's Counsel | Correspondence | Grace Nakamura | Hargrove, Dalton & Speer LLP (Franklin Speer / Megan Trask) | 2022-07-25 | 2022-07-25 | Complete | None | Letter dated July 25, 2022 requesting all environmental records (permits, compliance reports, RCRA manifests, air emission reports, NPDES DMRs, TRI filings, spill reports, remediation records, asbestos/LBP surveys, UST docs, environmental insurance policies, regulatory correspondence, prior Phase I/II ESAs).
36 | All Facilities | N/A | Client Communication — Initial Environmental Diligence Plan | Correspondence | Beatrice Holloway | Derek Huang (CPS) | 2022-07-21 | 2022-07-21 | Complete | None | Letter dated July 21, 2022 outlining scope, timeline, budget, and coordination with TerraVerde for Phase I/II ESAs.
37 | McKeesport Main Plant | 2200 Iron Works Boulevard, McKeesport, PA 15132 | Client Communication — Phase II McKeesport Results and Preliminary Risk Assessment | Correspondence | Harrison Caldwell (cc: Holloway, Nakamura) | Derek Huang / Patricia Okonkwo (CPS) | 2022-10-12 | 2022-10-12 | Complete | None | Email dated Oct 12, 2022 transmitting key Phase II findings (toluene exceedance, TCE vapor intrusion, lead in soil) and TerraVerde cost estimate ($1.2M–$2.8M). Recommended discussion of risk allocation strategy and insurance evaluation.
38 | All Facilities | N/A | Letter to Seller's Counsel — Environmental Concerns and Purchase Price Adjustment Request | Correspondence | Beatrice Holloway | Hargrove, Dalton & Speer LLP (Franklin Speer) | 2022-10-20 | 2022-10-20 | Complete | None | Letter dated Oct 20, 2022 outlining environmental liabilities ($1.925M–$4.345M), supporting $4.0M escrow and enhanced indemnification (uncapped, 7-yr survival). Requested Seller's response.
39 | All Facilities | N/A | Deal Pause Status Update and Preservation of Work Product | Correspondence / Administration | Beatrice Holloway | Vanessa Moretti (Briarwood) / Derek Huang (CPS) | 2022-11-02 | 2022-11-02 | Complete | N/A — final communication before dormancy | Email dated Nov 2, 2022. Summarizes status, outstanding items, document preservation measures, and 8-step resumption protocol. Matter No. 1006-00003 placed on dormant status.
40 | N/A | N/A | Lender Environmental Diligence Condition — Commonwealth National Bank | Lender Coordination | Beatrice Holloway / Grace Nakamura | Victoria Chen (Commonwealth National Bank, N.A.) | 2022-07-19 | In Progress | Commitment letter signed July 8, 2022. Financing conditioned on satisfactory environmental diligence — Phase I ESAs on all target real property with no unaddressed RECs, or acceptable PLL insurance in place. Lender status to be reconfirmed upon deal resumption. | Proposed facility: $65M senior secured term loan + $20M revolving credit facility. Equity contribution from Briarwood Fund IV: $9.5M.
[sheet: Summary Dashboard]
Metric | Value
Matter Number | 1006-00003
Client | Crestline Packaging Solutions LLC
Target | Allegheny Chemical Coatings, Inc.
Proposed Purchase Price | $94,500,000
Last Updated | October 28, 2022
Updated By | Grace Nakamura
Engagement Status | DORMANT
STATUS SUMMARY
Total Diligence Items | 40
Complete | 33
In Progress | 3
Pending | 3
Not Applicable | 2
FACILITY STATUS SUMMARY
McKeesport Main Plant — Items Complete | All Phase I/Phase II/regulatory items complete
Charleroi Specialty Coatings — Items Complete | All items complete; no Phase II required
Clarksburg Resin Blending — Outstanding | Phase II lab results PENDING; analysis memo PENDING; remediation estimate PENDING
Weirton Warehouse — Items Complete | All items complete; no Phase II required
CRITICAL OUTSTANDING ITEMS
1. Clarksburg Phase II Analytical Results | Samples at Keystone Analytical Laboratories Inc. (Monroeville, PA); expected Oct 28, 2022; NOT received; chain of custody confirmed by TerraVerde
2. Clarksburg Phase II Results Analysis Memo | Cannot be prepared until lab data received
3. Comprehensive Environmental Diligence Summary | DRAFT dated Oct 22, 2022 — incomplete; Clarksburg data missing; conclusions in outline only; not circulated to client
4. PLL Insurance Underwriting | Ironclad Specialty non-binding indication only; formal application not submitted; underwriting paused
5. Environmental Escrow/Indemnification Negotiations | Last exchange: Seller's counter received Oct 24, 2022; Crestline response NOT sent
6. Title V Permit Modification (McKeesport) | Application pending with PA DEP since March 2022; status unknown
7. Asbestos/LBP Updated Condition Assessments | Need flagged but not commissioned before pause
ENVIRONMENTAL LIABILITY ESTIMATES
Total Estimated Liabilities (Low) | $1,925,000
Total Estimated Liabilities (High) | $4,345,000
  McKeesport Remediation (Low / High) | $1,200,000 / $2,800,000
  Clarksburg Remediation — Soil (Low / High) | $350,000 / $750,000
  Clarksburg Remediation — GW Contingency (Low / High) | $150,000 / $400,000
  Asbestos Abatement (Low / High) | $180,000 / $310,000
  Lead-Based Paint Abatement (Low / High) | $45,000 / $85,000
ESCROW / INDEMNITY NEGOTIATION GAP
Crestline Proposed Escrow | $4,000,000
Seller Proposed Escrow | $1,500,000
Escrow Gap | $2,500,000
Crestline Proposed Indemnity Cap | Uncapped (fundamental environmental indemnity)
Seller Proposed Indemnity Cap | $3,500,000
Crestline Proposed Survival Period | 7 years
Seller Proposed Survival Period | 3 years
General Rep Basket/Deductible | $475,000
PLL INSURANCE (INDICATIVE — NOT BOUND)
Proposed Carrier | Ironclad Specialty Insurance Company
Policy Limit | $15M aggregate / $10M per occurrence
Policy Term | 10 years
Premium (Indicative) | $187,500
Self-Insured Retention | $250,000
Status | Non-binding indication only; underwriting paused
PROFESSIONAL FEES
C&H Total Fees Through Oct 31, 2022 | $218,740 (net of $100 billing adjustment)
C&H Disbursements | $4,215
TerraVerde Fees Through Oct 2022 | $127,500
  Phase I ESAs (4 × $4,500) | $18,000
  Phase II McKeesport | $72,000
  Phase II Clarksburg | $37,500
Combined Professional Fees | $350,455
[sheet: Facility Summary]
Data Point | Facility 1 — McKeesport Main Plant | Facility 2 — Charleroi Specialty Coatings | Facility 3 — Clarksburg Resin Blending | Facility 4 — Weirton Warehouse & Distribution
Address | 2200 Iron Works Boulevard, McKeesport, PA 15132 | 450 Industrial Park Road, Charleroi, PA 15022 | 1875 Route 50 West, Clarksburg, WV 26301 | 600 Commerce Way, Weirton, WV 26062
County / State | Allegheny County, PA | Washington County, PA | Harrison County, WV | Hancock County, WV
Parcel ID | 0383-M-00125-0000-00 | 120-015-00-03-0018-00 | 04-0012-0056-0000 | 07-0304-0012-0000
Acreage | 14.3 acres | 8.7 acres | 5.2 acres | 3.1 acres
Building SF | ~185,000 SF mfg; ~12,000 SF office | ~92,000 SF mfg; ~4,500 SF office/lab | ~48,000 SF warehouse/blending; ~3,000 SF office | ~65,000 SF warehouse; ~2,000 SF office
Operations | Primary solvent-based and epoxy coating manufacturing; mixing, blending, filling | Water-based and UV-curable coatings; newer facility (2003) | Resin receipt, blending, redistribution; minimal manufacturing | Finished goods storage and distribution; no manufacturing
Ownership | Owned in fee simple by ACC since 1987 | Owned in fee simple by ACC since 2003 | Leased from Mountainview Properties LLC (Gerald Boothe); Jan 1, 2015 – Dec 31, 2029; triple-net | Leased from Northern Panhandle Realty Corp. (Susan Delvecchio); March 1, 2018 – Feb 28, 2028; double-net
Prior Use | Former steel fabrication (Keystone Metalworks, defunct, pre-1987) | Former agricultural land (greenfield) | Former trucking terminal (1968–2012; Valley Freight Lines Inc., dissolved) | Remediated brownfield (former Weirton Steel parcel)
RCRA Generator Status | LQG — EPA ID PAD-098-721-445 | SQG — EPA ID PAD-112-583-667 | CESQG — EPA ID WVD-054-319-882 | Not a generator
Air Permit | Title V Permit TV-0383-0125 (issued 6/1/2019, expires 5/31/2024); major source (38.2 tons/yr HAPs; threshold 25 tons); permit mod pending (thermal oxidizer, Line 4, applied March 2022) | State-Only Permit 63-00982; minor source; compliant | Registration Permit R13-3201; minor source; compliant | N/A
NPDES Permit | PA0025631 (stormwater); March 2022 TSS exceedance (48 mg/L vs. 40 mg/L limit; 20%); self-reported; corrective action implemented | N/A | N/A | N/A
Phase I ESA Date | August 15, 2022 | August 18, 2022 | August 22, 2022 | August 25, 2022
Phase I Findings — RECs | REC-1: VOC/vapor intrusion near Bldg C (former UST field); REC-2: Staining/stressed vegetation along eastern boundary (drum storage area) | None | One REC: Staining on concrete floor in NE warehouse corner (drum storage) | None
Phase I Findings — CRECs | None | None | One CREC: Residual DRO with institutional controls (WV DEP WVUST-2012-04887; Harrison Co. Clerk, Book 1245, Pg 312) | One CREC: WV VRDP Certificate of Completion (Sept 2015); deed restriction (Hancock Co. Clerk, Book 487, Pg 89)
Phase I Findings — HRECs | One HREC: 1994 Act 2 release (former USTs removed 1993); NFA letter May 2001 | None | None | None
Phase I Findings — De Minimis | None noted | None noted | None noted | Minor hydraulic fluid stain (~4 SF)
Phase II Conducted? | Yes | No — not recommended | Yes | No — not recommended
Phase II Status | Complete — results received Oct 10, 2022; analysis memo completed Oct 14, 2022 | N/A | Field work complete Oct 7, 2022; ANALYTICAL RESULTS PENDING from Keystone Labs | N/A
Phase II Key Findings | Toluene in GW at MW-3: 1,420 µg/L (std: 1,000 µg/L — 42% exceedance); Xylene in GW at MW-3: 8,200 µg/L (std: 10,000 µg/L — below); PCE in soil at SB-7: 3.8 mg/kg (res std: 2.4 mg/kg — exceeds; non-res std: 14 mg/kg — below); Lead in soil at SB-14: 680 mg/kg (res std: 450 mg/kg — exceeds; non-res std: 1,000 mg/kg — below); TCE in sub-slab soil gas Bldg C: 42 µg/m³ (VI screening: 21 µg/m³ — 100% exceedance) | N/A | PENDING | N/A
Estimated Remediation Cost | $1.2M–$2.8M (GW treatment + vapor mitigation); TerraVerde estimate dated Oct 18, 2022 | N/A | If contamination confirmed: $350K–$750K (soil); $150K–$400K additional (if GW impacted) | N/A
Asbestos | ACM in pipe insulation (Bldgs A&B, ~2,400 LF) and floor tiles (Bldg A, ~14,000 SF); O&M Plan Sept 2019; abatement est. $180K–$310K | None identified | Not assessed | Not assessed
Lead-Based Paint | LBP on interior/exterior surfaces of office bldg (~1955); 2019 survey; abatement est. $45K–$85K | None identified (2003 construction) | Not assessed | Not assessed (2016 construction)
Spill History | June 14, 2017: ~50 gal xylene (contained, NFA); Feb 3, 2020: ~120 gal epoxy hardener to floor drain/sewer ($4,500 fine, corrected) | None | None reported by ACC | None
CERCLA/Superfund | Not on NPL; within 0.5 mi of former Irwin Iron & Steel Superfund site (NPL 1989, ROD 1996, construction complete 2004); no evidence of connection | Not applicable | Not applicable | Not applicable
Risk Rating | HIGH — multiple exceedances, vapor intrusion, remediation required | LOW — clean site | MODERATE TO HIGH (pending Phase II results) | LOW — CREC with controls in place, de minimis only
[sheet: Key Dates]
Date | Event | Facility / Scope | Notes
1987 | ACC incorporated; acquired McKeesport facility from Keystone Metalworks (defunct) | McKeesport | Former steel fabrication site
1993 | USTs removed at McKeesport (3 tanks, 10,000 gal each) | McKeesport
1994 | PA DEP Act 2 filing opened | McKeesport | Related to former USTs
2001-05-01 | NFA letter issued under Statewide Health Standard for soils | McKeesport | Act 2 closure — HREC
2003 | Charleroi facility constructed and opened | Charleroi | Greenfield on former agricultural land
2004-03-15 | Kessler Family Trust established | N/A | The Walter G. Kessler Revocable Trust
2012 | Diesel UST (15,000 gal) removed at Clarksburg by prior tenant (Valley Freight Lines Inc., dissolved) | Clarksburg | WV DEP Site ID WVUST-2012-04887
2013-03-01 | WV DEP closure letter issued for Clarksburg UST; residual DRO above action levels; institutional controls recorded (Harrison Co. Clerk, Book 1245, Pg 312) | Clarksburg | CREC basis
2015-01-01 | ACC Clarksburg lease commenced with Mountainview Properties LLC | Clarksburg | 15-year term; triple-net
2015-09-01 | WV VRDP Certificate of Completion issued (Weirton); deed restriction recorded (Hancock Co. Clerk, Book 487, Pg 89) | Weirton | CREC basis
2016 | Weirton warehouse constructed | Weirton | On remediated brownfield
2017-06-14 | Xylene spill at McKeesport (~50 gal; contained in secondary containment; NFA) | McKeesport | Reportable spill #1
2018-03-01 | ACC Weirton lease commenced with Northern Panhandle Realty Corp. | Weirton | 10-year term; double-net
2019-06-01 | Title V Operating Permit TV-0383-0125 issued | McKeesport | Expires May 31, 2024
2019-09-01 | Asbestos O&M Plan prepared | McKeesport | Management-in-place program
2020-02-03 | Epoxy resin hardener release (~120 gal to floor drain/sewer); $4,500 PA DEP fine; corrective action completed | McKeesport | Reportable spill #2
2021-04-14 | PA DEP RCRA inspection at McKeesport — no violations | McKeesport | LQG inspection
2022-03-01 | Title V permit modification application submitted (new thermal oxidizer, Line 4) | McKeesport | Status pending as of dormancy
2022-03-01 | NPDES TSS exceedance (48 mg/L vs. 40 mg/L); self-reported; corrective action | McKeesport
2022-07-08 | Commonwealth National Bank commitment letter signed | Transaction | $65M term loan + $20M revolver; environmental diligence condition
2022-07-19 | C&H engagement opened (Matter No. 1006-00003) | All | Environmental diligence workstream
2022-07-21 | Initial Environmental Diligence Plan sent to Derek Huang (CPS) | All | Scope, timeline, budget
2022-07-25 | Environmental Document Request sent to Hargrove, Dalton & Speer | All | Formal records request
2022-08-12 | Draft Stock Purchase Agreement circulated | Transaction | Art. IV, Sec. 4.18 environmental reps included
2022-08-15 | Phase I ESA completed — McKeesport (TerraVerde) | McKeesport | 2 RECs, 1 HREC
2022-08-18 | Phase I ESA completed — Charleroi (TerraVerde) | Charleroi | No RECs/CRECs/HRECs
2022-08-22 | Phase I ESA completed — Clarksburg (TerraVerde) | Clarksburg | 1 CREC, 1 REC
2022-08-25 | Phase I ESA completed — Weirton (TerraVerde) | Weirton | 1 CREC, de minimis
2022-09-01 | Phase II SOW review letter sent — McKeesport | McKeesport | 18 borings, 6 wells, sub-slab gas sampling approved
2022-09-12 | Phase II investigation commenced — McKeesport | McKeesport
2022-09-20 | Phase II SOW review letter sent — Clarksburg | Clarksburg | 8 borings, 3 wells
2022-09-26 | Phase II sampling completed — McKeesport | McKeesport
2022-09-28 | Landlord consent obtained — Clarksburg (Mountainview Properties LLC) | Clarksburg | Access agreement and indemnification finalized
2022-10-03 | Phase II investigation commenced — Clarksburg | Clarksburg | Landlord consent obtained
2022-10-05 | PLL insurance submission package sent to Whitfield & Calder | Insurance
2022-10-07 | Phase II sampling completed — Clarksburg | Clarksburg | Samples to Keystone Analytical Labs
2022-10-10 | Phase II lab results received — McKeesport | McKeesport | Multiple exceedances identified
2022-10-12 | Email to client — Phase II McKeesport results and risk assessment | McKeesport | To Derek Huang / Patricia Okonkwo
2022-10-14 | Phase II Results Analysis Memo completed — McKeesport | McKeesport
2022-10-16 | Vapor Intrusion Risk Assessment Memo completed — McKeesport Bldg C | McKeesport | TCE 42 µg/m³ vs. 21 µg/m³ screening level
2022-10-18 | TerraVerde preliminary remediation cost estimate — McKeesport | McKeesport | $1.2M–$2.8M
2022-10-19 | PLL Coverage Analysis Memo completed | Insurance | Ironclad Specialty indicative terms reviewed
2022-10-20 | Letter to Hargrove, Dalton & Speer — environmental concerns and $4.0M escrow request | Transaction
2022-10-21 | Environmental Risk Allocation Negotiation Strategy Memo completed | Transaction | Internal C&H strategy
2022-10-22 | Comprehensive Environmental Diligence Summary — DRAFT (incomplete) | All | Clarksburg data missing; conclusions in outline
2022-10-23 | PLL Term Sheet Review and Comment Letter sent to Whitfield & Calder | Insurance | Coverage gap comments
2022-10-24 | Seller's counterproposal on environmental escrow/indemnification received (via Hargrove Dalton) | Transaction | $1.5M escrow / $3.5M cap / 3-yr survival; Crestline response NOT sent
2022-10-28 | Deal negotiations paused; Clarksburg Phase II results not yet received | All | Status tracker last updated this date
2022-10-31 | C&H final invoice before dormancy (Invoice #48217, $67,430) | Billing | Paid January 15, 2023
2022-11-02 | Deal pause status update email sent to Vanessa Moretti and Derek Huang | All | Resumption protocol described
2022-11-04 | Matter Dormancy Memorandum issued; Document Preservation & Hold Notice issued | Administrative | Matter placed on dormant status
2022-12-31 | Exclusivity period expired | Transaction | Informal standstill in effect
2023-01-15 | Final C&H invoice (Invoice #48217) paid | Billing | No amounts currently outstanding
[sheet: Billing Summary]
Timekeeper / Vendor | Role | Rate ($/hr) | Hours | Total Fees | Notes
Beatrice Holloway | Responsible Partner (M&A) | $895 | 42.5 | $38,037.50
James Prentice | Billing Partner (M&A) | $895 | 18.0 | $16,110.00
Harrison Caldwell | Of Counsel (Environmental & Land Use) | $725 | 87.0 | $63,075.00
Grace Nakamura | Lead Associate (Real Estate) | $625 | 96.5 | $60,312.50
Rafael Dominguez | Working Associate (Real Estate) | $495 | 72.0 | $35,640.00
Simone Estrada | Paralegal | $275 | 20.6 | $5,665.00
C&H Gross Fees | 336.6 | $218,840.00 | Sum of all timekeepers
Billing Adjustment Credit | -$100.00
C&H Net Fees | $218,740.00
C&H Disbursements | $4,215.00 | Westmark Data Systems $2,180; Travel to McKeesport $1,435; Overnight courier $312; Filing/recording searches $288
C&H Total (Fees + Disbursements) | $222,955.00 | $218,740 + $4,215
TerraVerde — Phase I ESAs (4 facilities × $4,500) | Environmental Consultant | $18,000.00 | McKeesport, Charleroi, Clarksburg, Weirton
TerraVerde — Phase II McKeesport | Environmental Consultant | $72,000.00 | 18 borings, 6 wells, sub-slab gas sampling
TerraVerde — Phase II Clarksburg | Environmental Consultant | $37,500.00 | 8 borings, 3 wells
TerraVerde Total | $127,500.00 | Invoiced through October 2022; direct client engagement
COMBINED TOTAL (C&H + TerraVerde) | $350,455.00 | $222,955 + $127,500
Outstanding Invoices | $0.00 | Invoice #48217 ($67,430 for Sept–Oct fees) paid Jan 15, 2023; no amounts currently outstanding

[sheet: Tracker]

STATUS SUMMARY

FACILITY STATUS SUMMARY

CRITICAL OUTSTANDING ITEMS

ENVIRONMENTAL LIABILITY ESTIMATES

ESCROW / INDEMNITY NEGOTIATION GAP

PROFESSIONAL FEES

Record

Parties

Dates

Amounts