Source: http://regulations.delaware.gov/AdminCode/title7/1000/1300/Split1351/1351-12.shtml
Timestamp: 2019-04-23 01:02:08+00:00

Document:
Guarantee made this [Date] by [Name of guaranteeing entity], a business entity organized under the laws of the State of [name of state], herein referred to as Guarantor, to the Department of Natural Resources and Environmental Control (Department) and to any and all third parties, and obligees, on behalf of [Owner or Operator] of [Business Name and Address].
Governing Underground Storage Tank Systems.
This guarantee satisfies Part F, §1.3 of the Delaware Regulations Governing Underground Storage Tank Systems for assuring funding for [insert: "taking corrective action" and/or "compensating third parties for Bodily Injury and Property Damage"] caused by Accidental Releases; (if coverage is different for different UST Systems or locations, indicate the type of coverage applicable to each UST or location) arising from operating the above-identified UST Systems in the amount of [insert dollar amount] per Occurrence and [insert dollar amount] Annual Aggregate.
In the event that [Owner or Operator] fails to provide alternate coverage within sixty (60) days after receipt of a notice of cancellation of this guarantee and the Department has determined or suspects that a Release has occurred at an UST Facility covered by this guarantee, the Guarantor, upon instructions from the Department, shall fund a standby trust fund in accordance with the provisions of Part F, §2.12 of the Delaware Regulations Governing Underground Storage Tank Systems in an amount not to exceed the coverage limits specified above.
perform corrective action for Release arising out of the operation of the above-identified Underground Storage Tank System(s) in accordance with Part E of the Delaware Regulations Governing Underground Storage Tank Systems, the Guarantor upon written instructions from the DNREC shall fund a standby trust fund in accordance with the provisions of Part F, §2.12 of the Delaware Regulations Governing Underground Storage Tank Systems in an amount not to exceed the coverage limits specified above.
liability for Bodily Injury or Property Damage to third parties caused by Accidental Releases arising from the operation of the above-identified UST Systems, or fails to pay an amount agreed to in settlement of a claim arising from or alleged to arise from such injury or damage, the Guarantor, upon written instructions from the Department, shall fund a standby trust fund in accordance with the provisions of Part F, §2.12 of the Delaware Regulations Governing Underground Storage Tank Systems to satisfy such judgment(s), award(s), or settlement agreement(s) up to the limits of coverage specified above.
(4)	Guarantor agrees that if, at the end of any fiscal year before cancellation of this guarantee, the Guarantor fails to meet the financial test criteria of Part F §2.2.1 and either §2.2.2 or §2.2.3 of the Delaware Regulations Governing Underground Storage Tank Systems, Guarantor shall send within 120 days of such failure, by Verifiable Service, notice to [Owner or Operator]. The guarantee will terminate 120 days from the date of receipt of the notice by [Owner or Operator] as evidenced by Verifiable Service.
involuntary proceeding under Title 11 (Bankruptcy), U.S. Code, naming Guarantor as debtor, within 10 days after commencement of the proceeding.
(6)	Guarantor agrees to remain bound under this guarantee notwithstanding any modification or alteration of any obligation of [Owner or Operator] pursuant to these Regulations.
must comply with the applicable financial responsibility requirements of these regulations for the above-identified UST Systems, except that Guarantor may cancel this guarantee by sending notice by certified mail to[Owner or Operator] such cancellation to become effective no earlier than 120 days after receipt of such notice by[Owner or Operator] as evidenced by the return receipt.
(e)	Bodily Injury or Property Damage for which [Owner or Operator] is obligated to pay damages by reason of the assumption of liability in a contract or agreement other than a contract or agreement entered into to meet the Requirements of Part F, §1.3 of the Delaware Regulations Governing Underground Storage Tank Systems.
(9)	Guarantor expressly waives notice of acceptance of this guarantee by the Department, by any or all third parties, or by [Owner or Operator].
I hereby certify that the wording of this guarantee is identical to the wording specified in Part F, §2.3 of the Delaware Regulations Governing Underground Storage Tank Systems as such Regulations were constituted on the effective date shown immediately below.

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