Illinois Administrative Code › Title 35 - ENVIRONMENTAL PROTECTION › Part 811 - STANDARDS FOR NEW SOLID WASTE LANDFILLS › Subpart G - FINANCIAL ASSURANCE › Appendix A - Financial Assurance Forms › ILLUSTRATION C - Forfeiture Bond

Current through Register Vol. 48, No. 28, July 12, 2024
FORFEITURE 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 provides closure and post-closure care or corrective action for each
					 site in accordance with the closure and post-closure care or corrective action
					 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 or corrective
					 action.
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.
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 if, during
					 the term of the bond, the Principal fails to provide closure or post-closure
					 care or corrective action for any site in accordance with the closure and
					 post-closure care or corrective action 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 or corrective action 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 or corrective action in accordance with the closure and
				  post-closure care or corrective action plans;
e) For corrective action, fails to implement
				  corrective action at a municipal solid waste landfill unit in accordance with
				  35 Ill. Adm. Code
				  811.326;
				  or
f) Fails to provide alternative
				  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
					 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.
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 that 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
					 811.702.
In Witness Whereof, the Principal and Surety have executed
					 this Forfeiture 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 811.Appendix A, Illustration C as that
					 regulation was constituted on the date this bond was executed.
PRINCIPAL
SURETY
______________________
______________________
Signature
Name
______________________
______________________
Typed Name
Address
______________________
______________________
Title
State of Incorporation
______________________
______________________
Date
Signature
Corporate Seal
______________________
Typed Name
______________________
Title
______________________
Corporate Seal
Bond Premium: $ ______________