99-24 Exhibit to Temporary Extension Agreement.pdf

7. 7. Any breach of Any breach of any any provision provision of of this this agreement. agreement. 2.24 PERFORMANCE 2.24 PERFORMANCE BOND, BOND, RESTORATION RESTORATION BOND BOND AND AND INSURANCE INSURANCE Before commencing Before commencing the the Work, the Operator Work, the Operator shall shall furnish furnish to to West West Orange Orange the the following: following: a. a. AA Performance Performance and and Payment Payment Bond Bond will will be be required required at at the the time time of of thethe signing of signing of the the contract. contract. It It must must be be aa one one year Performance and year Performance and Payment

year Performance and Payment Payment Bond, Bond, in in the form the form acceptable acceptable to to the the West West Orange Orange Township Township Attorney, Attorney, and and in in the the amount equal amount equal to to $500,000, $500,000, duly duly executed executed by by the the successful successful Respondent Respondent (Operator), as (Operator), as principal principal and and by by aa reputable reputable surety surety company company rated rated A+ A+ or or better by better by A.A. M. M. BestBest Company’s Company’s Insurance Insurance Ratings Ratings licensed licensed to to

Company’s Insurance Insurance Ratings Ratings licensed licensed to to dodo business business under the under the laws laws of of and and in in the the State State of of New New Jersey Jersey andand satisfactory satisfactory to to the the Township of Township of West West Orange. Orange. The The Performance Performance Bond Bond mustmust specifically specifically provide that provide that it it will indemnify and will indemnify and paypay allall costs costs related related to to any any actions actions caused by caused by the the Operator’s Operator’s use use ofof the

s caused by caused by the the Operator’s Operator’s use use ofof the the Facility. Facility. This This specifically specifically includes, includes, but is but is not not limited limited to, to, costs costs andand expenses expenses incurredincurred by by any any adverse adverse governmental regulatory governmental regulatory action action andand costs costs and and expenses expenses potentially potentially incurred to incurred to transport transport and and dispose dispose of of the the Township’s Township’s Vegetative Vegetative Waste Waste at at sites other sites other than than the the Facility. Facility. If If the

sites other than than the the Facility. Facility. If If the the Surety Surety on on the the Bond Bond furnished furnished files files bankruptcy or bankruptcy or becomes becomes insolvent insolvent or or its its right right toto do do business business is is terminated, terminated, or it or it ceases ceases to to meet meet the the requirements requirements stated stated herein, herein, thethe Operator Operator shall shall within within fivefive (5)(5) days days thereafter thereafter substitute substitute another another BondBond and and Surety

another BondBond and and Surety Surety from from aa reputable surety reputable surety company company rated rated A+ A+ or or better better by by A.M. A.M. BestBest Company’s Company’s Insurance Ratings Insurance Ratings licensed licensed to to dodo business business in in the the State State ofof New New JerseyJersey acceptable to the Township of West Orange. acceptable to the Township of West Orange. If aa bidder If bidder fails fails to to provide provide aa performance performance bond bond for for the the first first year year of of the the contract, the contract,

of the the contract, the contract, the Township Township may may declare declare the the bidder bidder to to be be non-responsive. non-responsive. The Operator The Operator shall shall provide provide aa one-year one-year performance performance bondbond in in the the amount amount ofof $500,000 for $500,000 succeeding year each succeeding for each year of contract. The the contract. of the performance The performance bond for bond for each each succeeding succeeding yearyear shall shall be be delivered delivered toto the the Township Township with

the Township Township with with proof of proof of full full payment payment of of the the premium premium 120 120 days days prior prior to to the the expiration expiration of of the current the current bond. bond. Failure to Failure to deliver deliver aa performance performance bond bond forfor any any year year ofof the the contract contract aa minimum of minimum of 120 120 days days prior prior to to the the termination termination of of the the current current bond

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

perform through thethe date date ofof termination termination of of the the contract contract andand the the Operator Operator shall be shall be subject subject toto damages damages in in an an amount amount equalequal toto the the costs costs associated associated with with re-bidding the re-bidding the contract. contract. 31 31