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operation. Injection operations shall not resume in any source well <br />until the Director approves the corrective action and/or cavity <br />operation plan, and provides written authorization to resume <br />injection. <br />**~ <br />F. FINANCIAL RESPONSIBILITY <br />Demonstration of Financial Resaonsibility. The permittee is required to <br />maintain continuous financial responsibility and resources to close, plug and <br />abandon the injection well as provided in the plugging and abandonment plan. <br />(a) American Soda has chosen to demonstrate financial responsibility through <br />a Standby Trust Agreement and a SAFECO Insurance Company of <br />America Surety Performance Bond (issued to American Soda, L.L.P., the <br />well operator), in the amount of $68,400. This bond will increase as <br />required by the addition of new wells. The Performance Bond names EPA <br />as beneficiary in the- event of permittee default on the plugging and <br />abandonment requirements and is hereby incorporated as part of this <br />Permit. The Standby Trust Ageement established by the permittee shall <br />remain in effect for the duration of this Permit, unless part (b), below, has <br />been complied with. <br />(b) The permittee may, upon written request to EPA, change the type of <br />financial mechanism or instrument utilized. A change in demonstration of <br />financial responsibility must be approved by the Director. A minor Permit <br />modification shall be made to reflect any change in financial <br />mechanisms, without further opportunity for public comment. <br />2. Insolvency of Financial Institution. Iut the event that an altemate demonstration <br />of financial responsibility has been approved under (b) above, the pennittee must <br />submit an alternate demonstration of financial responsibility acceptable to the <br />Director within sixty (60) days after either of the following events occur: <br />(a) The institution issuing the trust or financial instrument files for <br />banla'uptcy; or <br />(b) The authority of the trustee institution to act as trustee, or the authority of <br />the institution issuing the financial instrument, is suspended or revoked. <br />3. Cancellation of Demonstration by Financial Institution. The permittee must <br />submit an alternative demonstration of financial responsibility acceptable to the <br />Director, within sixty (60) days after the institution issuing the trust or financial <br />instrument serves 120-day notice to the EPA of their intent to cancel the trust or <br />financial instrument. <br />Draft Modification No. 9 UIC Area Permit No. C030858-00000 Page 13 of 44 <br />