On March 18, 2003, Giuffre sold to PPC Investment Group LLC (PPC) a portion of the Property located at 1155 Prairie Hill Rd. in Rockton, Illinois (the PPC Property). PPC then leased the PPC Property to Paperchine, Inc. (Paperchine). The 06/18/2013 Stipulation Agreement is to ensure that the covenants in the 2002 settlement agreement were passed on to PPC and Paperchine.
THERE ARE THREE RELATED PROPOSED SETTLEMENT AGREEMENTS CON- CERNING THE BELOIT CORPORATION SUPERFUND SITE. THE FIRST AGREEMENT WITH THE BELOIT LIQUIDATING TRUST, NOW THE OWNER OF THE BELOIT FACILTY, STIPULATES TO THE PAYMENT OF CERTAIN APST CONSTS INCURRED BY USEPA IN CONNECTION WITH THE NPL SITE. THE SECOND AGREEMENT WITH THE BELOIT LIQUIDATING TRUST WRAPS UP THE DISPOSITION OF THE FUNDS SET ASIDE FROM BELOIT'S BANKRUPTCY PROCEEDINGS FOR SATISFACTION OF USEPA'S ENVIRONMENTAL CLAIMS. THE THIRD AND MOST SIGNIFICANT PRO- POSED SETTLEMENT HAS BEEN NEGOTIATED PURSUANT TO SECTION 122 (H) OF CERCLA, 42 U.S.C. SECTION 9622(H)(1), BY THE UNITED STATES, ON BEHALF OF USEPA, THE STATE OF ILINOIS, IEPA, AND GIUFFREE II, LLC. GIUFFREE IS AN OPERATOR AT THE NPL SITE AND INTENDS TO PURCHASE THE BELOIT FACILITY IN ROCKTON, ILLINOIS CONCURRENTLY WITH THE EFFECTIVE DATE OF THESE PRO- POSED AGREEMENTS.