Washington Administrative Code › Title 173 - Ecology, Department of (See also Titles 197, 317, 372, and 508) › Chapter 173-360A - Underground storage tank regulations › Part 10 - FINANCIAL RESPONSIBILITY › Section 173-360A-1091 - Appendix L-Local government guarantee with standby trust made by a state

Current through Register Vol. 24-14, July 15, 2024
Guarantee made this [date] by [name of state], herein
				  referred to as Guarantor, to the Washington State Department of Ecology and to
				  any and all third parties, and obliges, on behalf of [local government owner or
				  operator].
Recitals
1. Guarantor is a state.
2. [Local government owner or operator] owns
				or operates the following underground storage tank(s) covered by this
				Guarantee: [List the number of tanks at each facility and the name(s) and
				address(es) of the facility(ies) where the tanks are located. If more than one
				instrument is used to assure different tanks at any one facility, for each tank
				covered by this instrument, list the tank identification number provided in the
				notification submitted pursuant to WAC 173-360A-0200, and the name and address
				of the facility.] This Guarantee satisfies requirements of Part 10 of chapter
				173-360A WAC for assuring funding for [insert: "taking remedial action" and/or
				"compensating third parties for bodily injury and property damage caused by"
				either "sudden accidental releases" or "nonsudden accidental releases" or
				"accidental releases"; if coverage is different for different tanks or
				locations, indicate the type of coverage applicable to each tank or location]
				arising from operating the above-identified underground storage tank(s) in the
				amount of [insert dollar amount] per occurrence and [insert dollar amount]
				annual aggregate.
3. Guarantor
				guarantees to the Washington State Department of Ecology and to any and all
				third parties that:
a. In the event that
				[local government owner or operator] fails to provide alternate coverage within
				60 days after receipt of a notice of cancellation of this Guarantee and the
				Washington State Department of Ecology has determined or suspects that a
				release has occurred at an underground storage tank covered by this Guarantee,
				the Guarantor, upon instructions from the Department must fund a standby trust
				fund in accordance with the provisions of WAC 173-360A-1050, in an amount not
				to exceed the coverage limits specified above.
b. In the event that the Department
				determines that [local government owner or operator] has failed to perform
				remedial action for releases arising out of the operation of the
				above-identified tanks(s) in accordance with WAC 173-360A-0750, the Guarantor
				upon written instructions from the Department must fund a standby trust fund in
				accordance with the provisions of WAC 173-360A-1050, in an amount not to exceed
				the coverage limits specified above.
c. If [owner or operator] fails to satisfy a
				judgment or award based on a determination of liability for bodily injury or
				property damage to third parties caused by ["sudden" and/ or "nonsudden"]
				accidental releases arising from the operation of the above-identified tank(s),
				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, must fund a standby trust in accordance with
				the provisions of WAC 173-360A-1050 to satisfy such judgment(s), award(s), or
				settlement agreement(s) up to the limits of coverage specified above.