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Adequate financial responsibility shall be <br />provided for each additional well; this may be <br />accomplished by adding to the existing bond or by <br />a new bond arrangement. <br />(b) The operator may, upon written request to EPA, <br />change the type of financial mechanism or <br />instrument utilized. A change in demonstration <br />of financial responsibility must be approved by <br />the Director. A minor permit modification shall <br />be made to reflect any change in financial <br />mechanisms, without further opportunity for <br />public comment. <br />2. Insolvency of Financial Institution. In the event <br />that an alternate demonstration of financial <br />responsibility has been approved under (b) above, the <br />operator must submit an alternate demonstration of <br />financial responsibility acceptable to the Director <br />within sixty (60) days after either of the following <br />events occur: <br />(a) The institution issuing the trust or financial <br />instrument files for bankruptcy; or <br />(b) The authority of the trustee institution to act <br />as trustee, or the authority of the institution <br />issuing the financial instrument, is suspended or <br />revoked. <br />3. Cancellation of Demonstration by Financial <br />Institution. The operator must submit an alternative <br />demonstration of financial responsibility acceptable <br />to the Director, within sixty (60) days after the <br />institution issuing the trust or financial instrument <br />serves 120-day notice to the EPA of their intent to <br />cancel the trust or financial instrument. <br />Page 25 of 120 <br />EPA FINAL Area Permit No. C03870-00000 <br />