Roleset situate.01 Verbnet Class: 1 "(cause to) be located":

Roles:

Arg0:cause of situation, agent


Arg1:thing situated


Arg2:place

Examples:

person: ns tense: ns aspect: ns voice: passive form: participle


adjectival (-)
For a while in the 1970s it seemed Mr. Moon was on a spending spree, with such purchases as the former New Yorker Hotel and its adjacent Manhattan Center; a fishing/processing conglomerate with branches in Alaska, Massachusetts, Virginia and Louisiana; a former Christian Brothers monastery and the Seagram family mansion (both picturesquely situated on the Hudson River); shares in banks from Washington to Uruguay; a motion picture production company, and newspapers, such as the Washington Times, the New York City Tribune (originally the News World), and the successful Spanish-language Noticias del Mundo.
Arg1:	a former Christian Brothers monastery and the Seagram family mansion
ArgM-MNR:	picturesquely
REL:	situated
Arg2-on:	the Hudson River

person: ns tense: present aspect: ns voice: passive form: participle


sorta verbal (-)
Presidio said the properties are generally situated *trace* in Wyoming, North Dakota, Texas, Oklahoma and Louisiana.
ArgM-ADV:	generally
REL:	situated
Arg1:	*trace* -> the properties
Arg2-in:	Wyoming, North Dakota, Texas, Oklahoma and Louisiana

Active/agentive cases will probably not occur, leading me to believe this is properly treated as an adjective.