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American InternatiOnal Companies 70 Pine Street NewYork, NY 10270 PERFORMANCE BOND Replaces Bond 929172889 Bond No. 289480 KNOW ALL MEN BY THESE PRESENTS, That we, BFI Waste Systems of North America, Inc. 225 Shoreway Road, San Carlos, CA 94070 as Principal, and the The Insurance Company of the State of Pennsylvania , a NY corporation, as Surety subject to the Conditions, Limitations and Exclusions of this Performance Bond, are firmly bound unto City of Redwood City, Californ a P. O. Box 391, Redwood City, CA 94064 hereinafter referred to as the Obligee, for such monetary amount as incurred by the Obligee, not to exceed the penal sum of Two Million Two Hundred Fifty Six Thousand Dollars and 00/100 ($ 2,256,000.00 ), as may be required to remedy any contractual default by the Principal in the performance of that certain written contract between Principal and Obligee dated October 1, 2000 for Solid Waste Collection hereinafter referred to as the Contract; for the payment hereof, we bind ourselves, our heirs, executors, administrators and successors, jointly and severally. CONDITIONS The obligation of this Performance Bond shall be null and void unless: (1) the above Contract is in writing, and has been fully executed by both the Principal and the Obligee; (2) the Principal is actually in default under the above Contract, and is declared by the Obligee thereafter to be in default; (3) the Obligee has performed all of the obligations of the Obligee under the above Contract; and (4) the Obligee has provided written notice of the default to the Surety as promptly as possible, and in any event, within ten (10) days after such default. LIMITATIONS AND EXCLUSIONS The Surety, as the sole election and discretion of the Surety, may take any of the following actions: (1) With notice to the Obligee, provide financial assistance to the Principal to remedy any contractual default by the Principal; or, (2) Undertake the completion of the above Contract by the Surety, through its agents or through independent contractors; or, (3) Determine the amount for which the Surety may be liable to the Obligee, and as soon as a practicable thereafter, tender payment thereof to the Obligee; or, (4) Pay the full amount of the above penal sum in complete discharge and exoneration of this Performance Bond, and of all liabilities of the Surety relating thereto. If the Surety so elects to act, all payments and expenditures by the Surety shall be applied against the above penal sum and in reduction of the limit of liability of the Surety.