99-24 Exhibit to Temporary Extension Agreement.pdf

7.7. Any Any breach breach of any provision of any provision of this agreement. of this agreement. 2.24 PERFORMANCE 2.24 PERFORMANCE BOND. BOND. RESTORATION RESTORATION BOND AND INSURANCE BOND AND INSURANCE Before commencing Before commencing the the Work, Work, the the Operator shall furnish Operator shall furnish toto West Orange the West Orange the following: following: a.a. AA Performance Performance and and Payment Payment BondBond willwill be required atat the be required the time time of of the the signing of the contract. It must be a one year Performance and Payment Bond, signing of the contract. It must be a one year Performance and Payment in Bond, in the the form acceptable toto the form acceptable the West Orange Township West Orange Attorney, and Township Attorney, and inin the the amount equal amount equal to $500,000, duly to $500,000, duly executed

the amount equal amount equal to $500,000, duly to $500,000, duly executed executed by the successful by the successful Respondent Respondent (Operator), as (Operator), as principal principal and and byby aa reputable surety company reputable surety company rated rated A+ A+ or or better better by by A.A. M.M. Best Best Company’s Company's Insurance Ratings licensed Insurance Ratings licensed to do business to do business under under the the laws laws of of and and inin the State of the State of New New Jersey and satisfactory Jersey and satisfactory to to the the Township of Township West Orange. of West Orange. The The Performance Performance Bond Bond must specifically must specifically provide provide that that itit will will indemnify

must specifically provide provide that that itit will will indemnify indemnify and and paypay all all costs costs related related to to any any actions actions caused caused by by the Operator’s use the Operator's use ofof the Facility. This the Facility. specifically includes, This specifically includes, but but is is not limited to, not limited costs and to, costs and expenses expenses incurred incurred by by any adverse any adverse governmental governmental regulatory action and regulatory action and costs costs andand expenses expenses potentially potentially incurred to incurred to transport transport and and dispose dispose of the Township's of the

transport and and dispose dispose of the Township's of the Township's Vegetative Vegetative Waste Waste at at sites other sites other thanthan the the Facility. Facility. If If the Surety on the Surety the Bond on the Bond furnished furnished files files bankruptcy bankruptcy or or becomes insolvent or becomes insolvent or its right to its right do business to do business is is terminated, terminated, or itit ceases or ceases to to meet meet thethe requirements requirements stated stated herein, herein, thethe Operator Operator shall shall within within fivefive (5)(5) days days thereafter substitute another thereafter substitute another BondBond and Surety from and Surety from aa reputable reputable suretysurety company company rated rated A+A+ oror better

ty from aa reputable reputable suretysurety company company rated rated A+A+ oror better better byby A.M. A.M. Best Company's Best Company's Insurance Ratings Insurance licensed to Ratings licensed to do do business business inin the State of the State of New New JerseyJersey acceptable acceptable to to the the Township Township of of West Orange. West Orange. IfIf aa bidder bidder fails to provide fails to provide aa performance performance bond bond for for the first year the first year of of the the contract, the Township may declare the bidder to be non-responsive. contract, the Township may declare the bidder to be non-responsive. The Operator The Operator shall shall provide provide aa one-year one-year performance

r shall shall provide provide aa one-year one-year performance performance bond bond inin the amount of the amount of $500,000 for $500,000 for each succeeding year each succeeding year of of the the contract. contract. The The performance performance bond bond for each succeeding for each succeeding year shall be year shall be delivered delivered to to the Township with the Township with proof of full payment of the premium 120 days prior to the expiration of proof of full payment of the premium 120 days prior to the expiration of the the current current bond. bond. Failure to Failure to deliver deliver aa performance performance bond bond for any year for any year of the contract of the contract aa minimum minimum of of 120 120 days days prior to the prior to the

nimum minimum of of 120 120 days days prior to the prior to the termination termination of of the the current current bond bond will will constitute constitute aa breach breach of of contract and shall contract and shall entitle entitle the Township toto terminate the Township terminate the contract upon the contract upon thethe expiration expiration ofof the the current bond. Notwithstanding current bond. Notwithstanding termination pursuant termination pursuant toto this section, the this section, the Operator Operator is is obligated obligated toto fully fully perform through the perform through the date date of of termination termination of of the the contract contract and

termination of of the the contract contract and and the the Operator Operator shall be shall be subject subject toto damages damages inin anan amount amount equal equal toto the costs associated the costs associated withwith re-bidding the re-bidding contract. the contract. 30 30