IN ACCORDANCE WITH SECTION 122(I) OF THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT, AS AMENDED (``CERCLA''), 42 U.S.C. 9622(I), NOTICE IS HEREBY GIVEN OF A PROPOSED ADMINISTRATIVE SETTLEMENT FOR RECOVERY OF PAST AND PROJECTED FUTURE RESPONSE COSTS CONCERNING THE NL INDUSTRIES (TARACORP) SITE, WITH THE TOTAL OF 78 SETTLING PARTIES LISTED IN THE SUPPLEMENTARY INFORMATION PORTION OF THIS NOTICE. THE SETTLEMENT REQUIRES THE SETTLING PARTIES TO PAY $1,960,888.51 TO THE HAZARDOUS SUBSTANCE SUPERFUND.
THE TOTAL COST OF THE CLEANUP IS APPROXIMATELY $63 MILLION. THIS NUMBER IS THE SUM OF EPA'S PAST COSTS OF APPROXIMATELY $43 MILLION, PLUS COSTS INCURRED BY CERTAIN POTENTIALLY RESPONSIBLE PARTIES OF APPROXIMATELY $20 MILLION. FOR PURPOSES OF SETTLEMENT, SITE COSTS HAVE BEEN ALLOCATED APPROXIMATELY 50% TO GENERATORS AND 50% TO OWNER/OPERATORS. SINCE ALL DE MINIMIS PARTIES ARE GENERATORS, THE DE MINIMIS PERCENTAGE SHARE OF SITE COSTS IS BASED ON FIFTY PERCENT OF TOTAL SITE COSTS, OR $30 MILLION. TOTAL FUTURE SITE COSTS WERE ASSIGNED A PREMIUM OF 20%. PAYMENT AMOUNTS FOR EACH DE MINIMIS GENERATOR'S PERCENTAGE SHARE OF VOLUME CONTRIBUTED TO THE SITE.
UNDER THE TERMS OF THE SETTLEMENT, THE DE MINIMIS GENERATORS WHO SIGN THE CONSENT ORDER AGREE TO PAY THEIR RESPECTIVE SETTLEMENT AMOUNTS. IN EXCHANGE FOR THOSE PAYMENTS, THE UNITED STATES COVENANTS NOT TO SUE OR TAKE ADMINISTRATIVE ACTION PURSUANT TO SECTIONS 106 AND 107(A) OF CERCLA, 42 U.S.C. 9609 AND 96