Mustang Tractor & Equipment Company and Eureka Investment Company v. Liberty Mutual Insurance Company, First State Insurance Company

W. EUGENE DAVIS, Circuit Judge:

Mustang Tractor & Equipment Company and its wholly-owned subsidiary Eureka Investment Company (hereinafter collectively referred to as Mustang) appeal from the district court’s order denying their motion and granting their insurer’s motion for summary judgment. Appellants contend the district court erred in sustaining their insurer’s coverage defense. We affirm.

I

In 1973 Mustang purchased an eighteen and a half acre tract of land from Olin Corporation (Olin) for $300,000. Olin had operated a pesticide blending facility on the property and, in the process, had…