Illinois Administrative Code › Title 35 - ENVIRONMENTAL PROTECTION › Part 807 - SOLID WASTE › Subpart G - SITE SPECIFIC RULES AND EXCEPTIONS NOT OF GENERAL APPLICABILITY › Appendix A - Financial Assurance Forms › ILLUSTRATION D - Performance Bond

Current through Register Vol. 48, No. 28, July 12, 2024
PERFORMANCE BOND
Date bond executed:
					 ______________________________________________________
Effective date:
					 ___________________________________________________________
Principal:
					 _______________________________________________________________
____________________________________________________________________
Type of organization:
					 ______________________________________________________
State of incorporation:
					 _____________________________________________________
Surety:
					 _________________________________________________________________
Sites:
Name
					 _______________________________________________________________
Address
					 _____________________________________________________________
City
					 _________________________________________________________________
Amount guaranteed by this bond:  $
					 _____________
Name
					 _______________________________________________________________
Address
					 _____________________________________________________________
City
					 _________________________________________________________________
Amount guaranteed by this bond:  $
					 _____________
Please attach a separate page if more space is needed for
					 all sites.
Total penal sum of bond:  $
					 _____________________________
Surety's bond number: ____________________________
The Principal and the Surety promise to pay the Illinois
					 Environmental Protection Agency ("IEPA") the above penal sum unless the
					 Principal or Surety provides closure and post-closure care for each site in
					 accordance with the closure and post-closure care plans for that site. To the
					 payment of this obligation the Principal and Surety jointly and severally bind
					 themselves, their heirs, executors, administrators, successors and
					 assigns.
Whereas the Principal is required, under Section 21(d) of
					 the Environmental Protection Act [415 ILCS
					 5/21(d) ], to have a permit to
					 conduct a waste disposal operation;
Whereas the Principal is required, under Section 21.1 of
					 the Environmental Protection Act [415 ILCS 5/21.1 ], to provide
					 financial assurance for closure and post-closure care;
Whereas the Surety is licensed by the Illinois Department
					 of Insurance or is licensed to transact the business of insurance, or approved
					 to provide insurance as an excess or surplus lines insurer, by the insurance
					 department in one or more states; and
Whereas the Principal and Surety agree that this bond shall
					 be governed by the laws of the State of Illinois;
The Surety shall pay the penal sum to the IEPA or provide
					 closure and post-closure care in accordance with the closure and post-closure
					 care plans for the site if, during the term of the bond, the Principal fails to
					 provide closure or post-closure care for any site in accordance with the
					 closure and post-closure care plans for that site as guaranteed by this bond.
					 The Principal fails to so provide when the Principal:
a) Abandons the site;
b) Is adjudicated bankrupt;
c) Fails to initiate closure of the site or
				  post-closure care when ordered to do so by the Illinois Pollution Control Board
				  or a court of competent jurisdiction;
d) Notifies the IEPA that it has initiated
				  closure, or initiates closure, but fails to close the site or provide
				  post-closure care in accordance with the closure and post-closure care plans;
				  or
e) Fails to provide alternate
				  financial assurance and obtain the IEPA written approval of the assurance
				  provided within 90 days after receipt by both the Principal and the IEPA of a
				  notice from the Surety that the bond will not be renewed for another
				  term.
The Surety shall pay the penal sum of the bond to the IEPA
					 or notify the IEPA that it intends to provide closure and post-closure care in
					 accordance with the closure and post-closure care plans for the site within 30
					 days after the IEPA mails notice to the Surety that the Principal has met one
					 or more of the conditions described above. Payment shall be made by check or
					 draft payable to the State of Illinois, Landfill Closure and Post-Closure
					 Fund.
If the Surety notifies the IEPA that it intends to provide
					 closure and post-closure care, then the Surety must initiate closure and
					 post-closure care within 60 days after the IEPA mailed notice to the Surety
					 that the Principal met one or more of the conditions described above. The
					 Surety must complete closure and post-closure care in accordance with the
					 closure and post-closure care plans, or pay the penal sum.
The liability of the Surety shall not be discharged by any
					 payment or succession of payments unless and until such payment or payments
					 shall amount in the aggregate to the penal sum of the bond. In no event shall
					 the obligation of the Surety exceed the amount of the penal sum.
This bond shall expire on the _____ day of __________,
					 ___________ [date]; but such expiration date shall be automatically extended
					 for a period of _________ [at least one year] on _________ [date] and on each
					 successive expiration date, unless, at least 120 days before the current
					 expiration date, the Surety notifies both the IEPA and the Principal by
					 certified mail that the Surety has decided not to extend the term of this
					 surety bond beyond the current expiration date. The 120 days will begin on the
					 date when both the Principal and the IEPA have received the notice, as
					 evidenced by the return receipts.
The Principal may terminate this bond by sending written
					 notice to the Surety; provided, however, that no such notice shall become
					 effective until the Surety receives written authorization for termination of
					 the bond from the IEPA in accordance with 35 Ill. Adm. Code 807.604.
In Witness Whereof, the Principal and Surety have executed
					 this Performance Bond and have affixed their seals on the date set forth
					 above.
The persons whose signatures appear below certify that they
					 are authorized to execute this surety bond on behalf of the Principal and
					 Surety and that the wording of this surety bond is identical to the wording
					 specified in 35 Ill. Adm. Code 807.Appendix A, Illustration D as such
					 regulation was constituted on the date this bond was executed.
Principal
Corporate Surety
Signature
Name
_________________________
_________________________
Typed Name
Address
_________________________
_________________________
Title
State of Incorporation
_________________________
_________________________
Date
Signature
_________________________
_________________________
Typed Name
_________________________
Title
_________________________
Corporate seal
Corporate seal
Bond premium:$_____________