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What Happened: In 2007, Renaissance signed a lease assignment and took over as tenant of property in a shopping center. When the landlord sought to refinance the property two years later, it discovered that the below-ground space contained excessive amounts of Perchloroethylene (PERC), courtesy of the dry cleaner that had leased the space decades earlier. The lower court ruled that Renaissance had to reimburse the landlord for the $180,000 it had already spent to clean up the contamination and finish the remediation work out of its own pocket.
