1. 1. Perpetual duration An environmental covenant is perpetual unless it is:

   1. A. By its terms limited to a specific duration or terminated by the occurrence of a specific event;

      [PL 2005, c. 370, §1 (NEW).]

   2. B. Terminated by consent pursuant to section 3010;

      [PL 2005, c. 370, §1 (NEW).]

   3. C. Terminated pursuant to subsection 2;

      [PL 2005, c. 370, §1 (NEW).]

   4. D. Terminated by operation of other laws of this State governing priority of interests; or

      [PL 2005, c. 370, §1 (NEW).]

   5. E. Terminated or modified in an eminent domain proceeding, but only if:

      1. (1) The agency that signed the covenant is a party to the proceeding;
      2. (2) All persons identified in section 3010, subsections 1 and 2 are given notice of the pendency of the proceeding; and

      3. (3) The court determines, after hearing, that the termination or modification will not adversely affect human health or the environment.

         [PL 2005, c. 370, §1 (NEW).]

   [PL 2005, c. 370, §1 (NEW).]

2. 2. Intended benefits can no longer be realized If the agency that signed an environmental covenant has determined that the intended benefits of the covenant can no longer be realized, a court, under the doctrine of changed circumstances, in an action in which all persons identified in section 3010, subsections 1 and 2 have been given notice, may terminate the covenant or reduce its burden on the real property subject to the covenant.

   [PL 2005, c. 370, §1 (NEW).]

3. 3. Extinguished, limited or impaired Except as otherwise provided in subsections 1 and 2, an environmental covenant may not be extinguished, limited or impaired through issuance of a tax deed or foreclosure of a tax lien or application of the doctrine of adverse possession, prescription, abandonment, waiver, lack of enforcement or acquiescence or a similar doctrine.

   [PL 2005, c. 370, §1 (NEW).]

4. 4. Laws governing marketable title and dormant mineral interests An environmental covenant may not be extinguished, limited or impaired by application of laws governing marketable title and dormant mineral interests.

   [PL 2005, c. 370, §1 (NEW).]

PL 2005, c. 370, §1 (NEW).