(a) An environmental covenant must

(1) state that the interest is an environmental covenant executed under AS 46.04.300 - 46.04.390;

(2) contain a legally sufficient description of the real property subject to the environmental covenant;

(3) describe the activity and use limitations on the real property;

(4) identify every holder;

(5) be signed by the commissioner of the department, every holder, and, unless waived by the department, every owner of the fee simple of the real property subject to the environmental covenant except that for an environmental covenant affecting a land or mineral interest of the Department of Natural Resources, the signature of the commissioner of natural resources may not be waived; and

(6) identify the name and location of any administrative record for the environmental response project reflected in the environmental covenant.

(b) In addition to the information required under (a) of this section, an environmental covenant may contain other information, restrictions, and requirements agreed to by the persons who signed it or required by the department, including

(1) requirements for notice following transfer of a specified interest in, or concerning proposed changes in use of, applications for building permits for, or proposals for any site work affecting the contamination on, the property subject to the environmental covenant;

(2) requirements for periodic reporting describing compliance with the environmental covenant;

(3) rights of access to the property granted in connection with implementation or enforcement of the environmental covenant;

(4) a brief narrative description of the contamination and remedy, including the contaminants of concern, the pathways of exposure, limits on exposure, and the location and extent of the contamination;

(5) a limitation on the amendment or termination of the environmental covenant that is in addition to the limitations contained in AS 46.04.300 - 46.04.390; and

(6) rights of the holder in addition to the right of the holder to enforce the environmental covenant under AS 46.04.335.

(c) In addition to other conditions for the department's approval of an environmental covenant, the department may require a specified person who has an interest in the real property that is the subject of the environmental covenant to sign the environmental covenant.