Agmt09 South Bay Recycling, LLC - Laserfiche WebLink

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1 2 3 4 5 ninety (90) days before the expiration of the initial bond, the Contractor shall furnish either a replacement bond or a continuation certificate substantially in the form attached as Attachment 16, executed by the surety. It is the intention of this Section that there be in full force and effect at all times a bond securing the Contractor's faithful performance of the Agreement, throughout its Term. 6 10.04 ALTERNATIVE SECURITY 7 Authority may, in its sole discretion, allow Contractor to provide alternative security in the 8 amount set forth in Section 10.03, in the form of (a) a prepaid irrevocable standby letter 9 of credit in form and substance satisfactory to Authority and approved as to form by the 10 Authority's Legal Counsel and issued by a financial institution acceptable to Authority, or 11 (b) a certificate of deposit in the name of the Authority with a term satisfactory to 12 Authority, with a financial institution acceptable to Authority, and approved as to form by 13 Authority's Legal Counsel. 14 10.05 HAZARDOUS WASTE INDEMNIFICATION 15 Contractor shall indemnify, defend with Counsel approved by the Authority, protect and 16 hold harmless the Indemnitees against all claims, of any kind whatsoever paid, incurred 17 or suffered by, or asserted against Indemnitees arising from or attributable to any repair, 18 cleanup or detoxification, or preparation and implementation of any removal, remedial, 19 response, closure or other plan (regardless of whether undertaken due to governmental 20 action) concerning any Hazardous Wastes at any place where Contractor stores or 21 disposes of Hazardous Wastes pursuant to this Agreement. The foregoing indemnity is 22 intended to operate as an agreement pursuant to Section 1 07( e) of the Comprehensive 23 Environmental Response, Compensation and Liability Act, ("CERCLA"), 42 U.S.C. 24 Section 9607( e), and California Health and Safety Code Section 25364, to defend, 25 protect, hold harmless and indemnify Indemnitees from liability. 26 10.06 INTEGRATED WASTE MANAGEMENT ACT INDEMNIFICATION 27 Contractor agrees to indemnify and hold harmless the Indemnitees against all fines 28 and/or penalties imposed by the California Integrated Waste Management Board 29 (CIWMB) or the Local Enforcement Agency (LEA) (a) based on Contractor's failure to 30 comply with laws, regulations or permits issued or enforced by the CIWMB or the LEA; 31 (b) caused or contributed to by the Contractor's failure to perform obligations under this 32 Agreement. This indemnity obligation is subject to the limitations and conditions in 33 Public Resource Code Section 40059.1 but is enforceable to the maximum extent 34 allowable by that Section. 35 10.07 GUARANTY 36 Concurrently with the execution of this Agreement, Contractor shall deliver to Authority a 37 Guaranty in the form attached as Attachment 17, properly executed by its Members: 38 Community Recycling and Resource Recovery, Inc. and Potential Industries, Inc. Operating Agreement for Shoreway Center Page - 41 - 7/30/09