HomeMy WebLinkAbout911536.tiff A RESOLUTION
R2309.537
RE: APPROVE FINANCIAL ASSURANCE AGREEMENT AND AUTHORIZE CHAIRMAN TO SIGN -
ENVIRONMENTAL RECYCLING AND DISPOSAL, INC.
N o
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WHEREAS, the Board of County Commissioners of Weld County, Colorado,
Upursuant to Colorado statute and the Weld County Home Rule Charter, is vested
q with the authority of administering the affairs of Weld County, Colorado, and
a
o WHEREAS, the Board has been presented with a Financial Assurance Agreement
o a with Environmental Recycling and Disposal, Inc. , with the further terms and
(o- w conditions being as stated in said agreement, and
q
ai
UWHEREAS, after review, the Board deems it advisable to approve said
m a agreement, a copy of which is attached hereto and incorporated herein by
N reference.
N
—4g NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
a County, Colorado, that the Financial Assurance Agreement be, and hereby is,
N
m U approved.
CD H BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
Hauthorized to sign said agreement.
r-4 �
r The above and foregoing Resolution was, on motion duly made and seconded,
m adopted by the following vote on the 30th day of December, A.D. , 1991.
m p, n
2 I D I,I � � BOARD OF COUNTY COMMISSIONERS
(0
N < ATTEST: 044,1:0 � ayuAzgl WELD COUNTY , COLORADO
o
U g Weld County Clerk to the poard
wa Gord•n . a , °airman
i
,.yH Deputy Clerk to the Boar George Kenn y, Pro-Tem
W APPROVED AS TO FORM: EXCUSED
- Constance L. Harbert
County Attorney C. W. Kirby /
n
11,(2 ttzi
W. H. Webster u
911536
FINANCIAL ASSURANCE AGREEMENT
This Agreement is made this 30th day of December , 1991,
N p between ENVIRONMENTAL RECYCLING AND DISPOSAL, INC. , a Colorado
0 corporation, (Operator) and the BOARD OF COUNTY COMMISSIONERS OF
WELD COUNTY, COLORADO (Board) .
NO
U
ca WITNESSETH THAT:
4
0 3 WHEREAS, Operator has been granted by the Board a Certificate
o x of Designation (CD) and a Site Specific Development Plan and a Use
drw By Special Review permit (USR) authorizing Operator to open and
z operate a Solid Waste Disposal Site and Facility (Facility) located
o in Weld County, Colorado, and described in Exhibit A attached
w hereto subject to certain conditions and standards of operation;
en� x and,
•. w
X WHEREAS, as a condition of approval of Facility, Board is
w requiring Operator to provide sufficient financial assurance for
N the payment of the estimated costs of closure and post-closure care
of the Facility; for any additional or closure and post closure
o z
costs for then current uses of the Disposal Site as approved by the
Board; and for corrective action in the event corrective action is
E-4
.acn required during the life of the Facility (Financial Assurance) ;
w and,
✓ D
co• it, WHEREAS, The Parties have elected to establish a Trust to
o z provide all or a part of such Financial Assurance for the Facility
re)• z and shall, prior to the opening of Facility, execute a Trust
o Agreement (Trust Agreement) in the form attached hereto as Exhibit
x C; and,
zw WHEREAS, The Parties intend that this Agreement and the Trust
f ,`l; Agreement comply with the Financial Assurance requirements imposed
Mr- by Title 40, Part 258, Subpart G of the Code of Federal Regulations
adopted by the United States Environmental Protection Agency on
m w September 11, 1991, and published October 10, 1991 at 56 Federal
Register 50978, effective October 10, 1993 (Federal Law) .
WHEREAS, this Agreement and the Trust Agreement are not
intended to duplicate or supplant Federal Law or any Financial
Assurance requirements which may be imposed by the State of
Colorado ("State") . To the extent, if any, the State, by statute
or regulation, imposes Financial Assurance requirements on
Operator, then this Agreement and the Trust Agreement shall
be appropriately amended, limited, transferred, or, if necessary,
terminated to eliminate any duplication in Financial Assurance in
excess of that herein required;
1
911$36 �f��"el, ,
s
NOW THEREFORE, for and in consideration of the foregoing; in
consideration of the Board's issuance of a Certificate of
Designation to Operator for the operation of the Facility; to
satisfy the requirement of the USR that Operator provide Financial
Assurance to Board, and in order to satisfy the requirements of
:44 o Federal Law; the Parties do hereby agree as follows:
0
; p 1. Subject of Agreement. This Agreement pertains only to
the Facility and Financial Assurance with respect thereto as may be
A amended in writing as provided by this Agreement or as may be
ow required by Federal Law. This Agreement and the Trust Agreement
O 3 are intended to comply, at a minimum, with the Financial Assurance
o w requirements of Federal Law. Until such time as State Law or
xq Federal Law requires otherwise the cost estimate provisions of
o Federal Law shall be utilized for estimating Financial Assurance.
o
m a 2 . Execution of Trust Agreement. Operator agrees to
execute Trust Agreement in the form attached as Exhibit B. The
x Trust created by such Trust Agreement is referred to herein as the
a "Trust" .
w
rncai 3 . Cost Estimates. Attached hereto as Exhibit C is a
,nz detailed written engineering estimate of; (1) the cost in current
CD w dollars of hiring a third party to close the largest area of the
H F Facility ever requiring final cover during the active life of the
' a Facility when the extent and manner of its operation would make
a closure the most expensive as contemplated by the operations and
m• :t4
closure plans of the Facility; and (2) the total cost in current
odollars of hiring a third party to conduct post-closure care for
en z the Facility in compliance with the post-closure plan based on the
N 4 most expensive costs of post-closure care for the entire post-
o � closure period. In the event Operator is required to undertake any
• x Corrective Action, Operator shall provide an engineering estimate
a of the then current total cost, in then current dollars, of hiring
� .zr a third party to perform the Corrective Action in accordance with
'^ `^ the Corrective Action Plan for the entire corrective action period,
and shall modify the estimate in the event the Corrective Action
w w Plan is modified and the modification increases the maximum cost of
the corrective action program.
4. Adjustments to Cost Estimate. Operator shall adjust the
cost estimates established pursuant to Paragraph 3 of this
agreement for inflation annually on the anniversary of this
agreement utilizing the Producer Price Index for Total Finished
Goods published by the Bureau of Labor Statistics of the United
States Department of Labor (adjusted cost) and shall submit the
same to the Board within thirty (30) days. Operator may prepare
and submit to the Board; and the Board, not more frequently than
every three (3) years, may require the preparation and submittal
of; an amended cost estimate prepared in accordance with Paragraph
3 of this Agreement (amended cost) . Any adjusted or amended cost
estimate shall become binding upon the parties thirty (30) days
2
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.-.y- ,
Y ':.' 415
following submittal to Board unless Board objects to the amended or
adjusted cost estimate, provided that the submittal must notify
Board that it has thirty (30) days to object thereto pursuant to
this Agreement or thirty (30) days after the Board is specifically
N o notified of the time limitation. In the event the Producer Price
r v Index for Total Finished Goods published by the Bureau of Labor
Statistics of the United States Department of Labor ceases to be
d' o published the parties shall agree on the utilization of an
v alternative index which most accurately measures changes in the
a cost of the labor and services required for closure, post-closure,
0 3 and corrective action activities.
� w 5. Funding of Trust.
ca
o a. Initial Funding. Prior to the initial receipt of
w waste at Facility, Operator shall pay into the Trust the sum of
en $ 11, 091. 00 as the initial deposit for closure expense; and the sum
cv w of $ 53 , 096. 53 as the initial deposit for post-closure expenses.
N
a b. Computation Subsequent Deposits.
w
Na
°` C.) (i) Closure Expenses. The computation of the initial
z deposit in the Trust for closure expenses is the total estimated
CD w cost of closure divided by the design life expectancy of the
Facility. Subsequent deposits will be computed by dividing the
w amended or adjusted estimated closure cost less the then current
N value of the trust fund for closure expenses by the remaining
m w design life or the estimated remaining actual life expectancy of
o z
the Facility, whichever is the lesser.
M
No 4 (ii) Post-Closure Expenses. The computation of the
z deposits in the Trust for post-closure expenses is intended to
a produce a fund at the time of final closure which will produce the
estimated average annual post-closure expenses with a 3. 5$ annual
N cost of living adjustment at a yield of 5.6541$ ($ 1, 699, 088. 50) .
Min
The initial deposit is determined by dividing this present value of
'" H the estimated annual post-closure expense by the design life of the
co w facility [$ 1, 699, 088 .50 _ 32] Subsequent deposits shall be
computed with reference to the adjusted or amended estimated annual
post-closure expenses reduced to present value at then appropriate
interest rates and with appropriate cost of living adjustments as
may be agreed upon between the parties less the then current value
of Trust designated for post-closure expenses divided by the
remaining design life or estimated remaining actual life expectancy
of the facility, whichever is the lesser; provided, however, that
in no event shall subsequent contributions for post-closure costs
exceed the adjusted or amended estimated annual post-closure cost
multiplied by thirty (30) years less the current value of the Trust
held for post-closure expenses divided by the remaining design life
or actual estimated life expectancy, whichever is lesser.
3
1 i ir� 1
(iii) Corrective Action. In the event Corrective
Action is required, Operator shall deposit into the Trust an amount
equal to one-half (1/2) of the then engineering estimate of the
actual cost of completing the Corrective Action divided by one-half
the number of years estimated to complete the Corrective Action in
accordance with the Corrective Action Plan (Corrective Action
o
Period) . Subsequent deposits shall be computed by dividing the
most current amended or adjusted engineering cost estimate of the
n o Corrective Action to be incurred in the second half of the
Corrective Action Period less the current balance in the Trust
A designated for the Corrective Action by the number of years
o w remaining in the Corrective Action Period.
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o w (c) Income Retained. All income earned on the Trust
69- 2 funds shall be retained by the Trust and added to the Trust funds.
w6. Monitoring; Failure to Operate; Trust Disbursement.
M W
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(a) Monitoring. Operator shall monitor the Facility to
ensure its compliance with all federal, state and local
riz
z environmental regulations.
w
a\ (b) Failure to Operate and Trust Disbursement. In the
iz event that the Operator ceases operations at the Facility for a
w continuous period in excess of one year without clear evidence that
H operations will be resumed within a reasonable time, Board may
rq
a demand, in writing, that Operator initiate final closure activity
r. or resume operations by a date certain. In the event Operator
r w fails to comply with this demand, the Board, without arbitration,
rn after notice to Operator and a public hearing, may make a written
re) z demand upon Trustee for disbursement from the Trust of funds
N sufficient to pay costs of closure and post-closure activity, to
r undertake and pay with Trust funds any needed corrective actions
w x for releases from the Facility , and to initiate closure of the
a Facility. This provision shall not apply to cessation of the
Ito operation of the Facility due to temporary closure by court order
r- or government authority, provided, that if the court order or
government agency permanently closes the facility the trust funds
ca w shall be available for closure and post-closure activities.
(c) All Remedial Rights Retained. In addition to all
rights provided in this paragraph 6, Board shall have the right to
pursue any other remedies available under law. A violation of this
Agreement by Operator shall be a violation of the Use by Special
Review Permit and the Certificate of Designation issued by Board
and shall be grounds for revocation or suspension of the Use by
Special Review Permit and Certificate of Designation; provided,
however, the issue of whether or not operator has violated this
agreement shall be subject to arbitration as set forth herein.
4
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7. Partial Withdrawal or Reduction. At any time the Operator
may submit a written request to the Board requesting release of
that amount of the Trust fund in excess of the then current
estimate of the remaining Financial Assurance required. The Board
shall authorize partial release(s) of Trust funds as is reasonable
ro o under the then existing circumstances, and the Trustee shall
Ho U release funds as directed by the Board. Upon release to Operator,
o the funds released shall no longer constitute a part of the funds
U of the Trust. The Board shall instruct the Trustee regarding its
A decision on release of the funds within thirty (30) days after
w receiving the request for release.
o
O3
o a 8 . Substitute Financial Assurance. Operator may at any
w time provide alternate financial assurance concerning the Facility
a as specified or permitted by Federal Law. Such alternate financial
o assurance must be reviewed and approved by the County Attorney as
U
to its adequacy and dependability in comparison to the then
existing financial assurance. The Trust shall terminate upon
N acceptance by the Board and implementation of such alternate
r+ g financial assurance, and all funds then held by the Trust shall be
w distributed to Operator. No subsequent alternative financial
CV rn u assurance shall be terminated or canceled unless and until
alternate financial assurance has been received and accepted by the
z
o H Board.
� w
� H
H to 9. Operator performance of Closure, Post-Closure or
w Corrective Action Services. Upon performance of Closure, Post-
e w Closure, or Corrective Action activities by Operator, or at
m w Operator's expense, Operator may request reimbursement for costs
o z incurred for Closure, Post-Closure, or Corrective Action by
en z submitting, in writing, to the Board a detailed itemization of all
o direct and indirect costs incurred. Operator may also request
u z reimbursement for partial closure costs incurred if sufficient
w funds will remain in the Trust following the payment thereof to
a
cover the future estimated costs of Closure, Post-Closure, and
vrivfi Corrective Action. Within thirty (30) days after written request
e for disbursement to Operator pursuant to this paragraph, the Board
w shall instruct the Trustee and notify Operator in writing as to the
Board's decision with respect to the request and authorize the
Trustee to disburse any funds approved by Board. If the Board
determines cost of Closure, Post-Closure, or Corrective Action
will be greater than the amount on deposit in the Trust or that the
Closure, Post-Closure or Corrective Action activities performed by
Operator, or at Operator' s expense, were not performed in
accordance with the Plan of Operations or Corrective Action Plan,
it may deny reimbursement to Operator pursuant to this paragraph
and shall advise Operator in writing of its decision and the basis
thereof.
10. Arbitration. Any controversy or dispute arising under
this agreement, including without limitation, the amount or method
of computation of any deposit in the Trust or the disbursement of
5
any funds from the Trust shall be settled by arbitration in
accordance with the Arbitration Rules of The American Arbitration
Association, and judgment upon the award rendered by the arbitrator
or arbitrators may be entered by the District Court in and for the
County of Weld, and State of Colorado which, the parties agree, is
the court of appropriate jurisdiction and venue. Notice of demand
N o for arbitration shall be filed in writing with the other party and
(_) with The American Arbitration Association. A party who files a
. notice of demand for arbitration must assert in the demand all
o claims then known to that party on which arbitration is permitted
to be demanded. When a party fails to include a claim through
O• oversight, inadvertence or excusable neglect, or when a claim has
o matured or been acquired subsequently, the arbitrator or
o
arbitrators may permit amendment. The parties to the arbitration
o
4:4) shall have all rights of discovery as is provided by, and in
o accordance with, the Colorado Rules of Civil Procedure in any
0 arbitration proceeding pursuant to this agreement.
w
in x 11. Bankruptcy of operator.
N
Ny x (a) The Trust is being provided pursuant to the
x Certificate of Designation granted by Board, the Use By Special
N a Review granted by Board and Federal Law and is intended to assure
U performance of the Operator's duties as to Closure, Post-Closure,
m z and Corrective Action of the Facility to protect the public
w interest. Operator retains no more rights to the Trust than has
been specified in this Agreement, the Trust Agreement, or as may be
x permitted by Federal Law.
w
ro
co w (b) In the event of bankruptcy, Operator warrants that
othe Trust shall never be considered or claimed by the Operator as
z
rnz being property of any bankruptcy estate under 11 U.S.C. Section
o 4 541. Further, Operator agrees that the Trust shall not be the
a subject of any attachment, lien, levy, execution, garnishment, or
w assignment by, for, or on behalf of any creditor of the operator to
a the maximum extent allowed by the law or public policy.
r CO
L11 (c) In the event of, and during the pendency of,
bankruptcy, Operator agrees that Board shall have fully performed
m w its obligations under this Agreement and shall no longer be
obligated under any provision of this Agreement to authorize the
release of any Trust funds or assets to Operator. Therefore,
Operator agrees that this Agreement shall not be considered or
claimed to be an executory contract under 11 U. S.C. Section 365
and will itself assert no rights or claims against the Trust
contrary to this Agreement.
(d) Operator shall notify Board of the commencement of a
voluntary or involuntary proceeding in bankruptcy, wherein the
Operator is named as debtor, within ten (10) days after
commencement of the proceeding.
6
12 . Successors and Assigns. All covenants and agreements
contained in this Agreement by or on behalf of any of the parties
hereto will bind and inure to the benefit of the respective
successors and assigns of the parties hereto whether so expressed
or not. Upon transfer of the Facility by Operator following
approval of such transfer by Board, Operator shall be released from
N o any further liability hereunder and the transferee shall be
o U substituted as Operator.
.
`oco.� 13 . Severability. Whenever possible, each provision of this
ca Agreement will be interpreted in such manner as to be effective and
O w valid under applicable law, but if any provision of this Agreement
0 3 is held to be prohibited by, or invalid under, applicable law, such
o a provision will be ineffective only to the extent it is prohibited
w or invalid and the remaining provisions of this Agreement shall
a remain in full force and effect.
o
M z 14 . Descriptive Headings. The descriptive headings of this
N Agreement are inserted for convenience only and do not constitute
N a part of this Agreement.
Hx
w 15. Governing Law. All questions concerning the
rn u construction, validity and interpretation of this Agreement, and
z the Trust Agreement, will be governed by the statutes, rules and
o H regulations of the United States specifically applicable and the
w internal laws of the State of Colorado.
+ H
� y
w 16. Entire Agreement; Amendments. This Agreement constitutes
w the entire agreement of the parties hereto. No change, alteration,
m w amendment, modification or waiver of any term or provision hereof
o z shall be valid unless the same is set forth in writing and signed
m z by the parties.
0
0 a 17 . No Waiver. No portion of this Agreement shall be deemed
w to constitute a waiver of any immunities the parties or their
a
officers or employees may possess, nor shall any provision of this
Ln n Agreement be construed to create any duty, standard of care or
', rights in favor of any third parties with respect to any obligation
created by this Agreement.
• w
18. Performance by Board. Nothing in this agreement shall be
construed as creating any obligation of Board, or the County of
Weld, State of Colorado, to perform any obligation or requirement
of Operator with respect to the ownership, operation, maintenance,
closure, post-closure, or corrective action activities, regardless
of how such obligation or requirement is established.
19 . Notices. All notices, demands or other communications to
be given or delivered under or by reason of the provisions of this
Agreement will be in writing and will be deemed to have been given
when (a) delivered personally or by courier, with a signed proof of
7
ff
STATE OF COLORADO }
}ss
COUNTY OF WELD }
Subscribed 9, o/nd s r n o before me this s 30 day of December,
1991, by n �Oer7�S as President and-
ac Socrotary of
En4iropmental Recycling and Disposal, Inc. , a Colorado corporation.
-- -- —
My. commission expires: -
1., _
NotaryPub 1i _
STATE OF COLORADO }
1 s
COUNTY OF WELD }
Subscribed and sworn to before me this 30th day of December,
1991, by Gordon E. Lacy as Chairman of,
and Donald p. [iarden as Clerk to, The Board of
County Commissioners of Weld County, Colorado.
Ny bommission expires: My CommssionExpirasJaruary10,1935
•
Notarygje �io
APPROVED AS TO FORM:
ii
1
t G �
`VlyO
•Z&e )ison Arthur P. Roy
Assistant County Attorney Attorney for Envio nmental Recycling
and Disposal, Inc.
9
B 1357 REC 02309837 11/05/92 12 : 23 $0 .00 10/012
F 1761 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
receipt, or (b) placed in the U.S. mail by means of certified or
registered mail, return receipt requested and postage prepaid, to
the recipient. Such notices, demands and other communications
shall be sent to each party at the addresses indicated below:
NO
iV If to Operator:
0
O c0j Environmental Recycling & Disposal, Inc.
q c/o Mid-American Waste Systems, Inc.
a 1006 Walnut Street
0 3 Canal Winchester, Ohio 43110
0
yr W
Qa If to the Board:
O
M a Board of County Commissioners of Weld County
N P O Box 758
N Greeley, Colorado 80632
w or to such other address or to the attention of such other person
N u as the recipient party has specified by prior written notice to the
N z sending party.
O H
H IN WITNESS WHEREOF, Operator and the Board have executed this
Agreement as of the date and year first written above.
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opo
coM PI ENVIRONMENTAL G AND DISPOSAL, INC.
o z a Colorado porat'
en z
gc
By Q
U a ATTEST• ,
a �
� l0 Secre ary
M 1�
BOARD OF COUNTY COMMISSIONERS OF
al a WELD COUNTY, COLORADO
By
AT ST: / deth
Clerk to the Boar`
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_D.eidXg:tc
8
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EXHIBIT A
LEGAL DESCRIPTION
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West One-Half (W1/2) , Section 28, Township 1
a North, Range 68 West of the Sixth Principal
o Meridian, Weld County, Colorado
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EXHIBIT A
for ER C: L A ,o,•:,W,,i)!
,,. an e: ,:;}r,,�•,t'e Cost Estimates '��
EXHIBIT C
- _..._.., ._.. :? ;ra•ri��; ^,.: .tT r icr,c oper/Post
�...:. �,
l item/unite no. of 7. ., c,•' • +
S'lsak units (Ycosts_ ...
,�, r:e) closure
l Asaun+e 10 lnrstts 3arn}+err:[ at!m€ annually. _ _.
`Post Closure N20 Monitoring i�!, vtfille 3 �,f which are dry. _ ;___. 1' ,. . ' "'-'�
_ 25 :F`,r3 i 21 $2 500 l 301 $75.000
:........� .•.._ . . ._.. _-hours _._ — + .. .. ++ - .,.
I!.abor� �... _ leach 10 lac•', .t 56,i)UL) 301 _S240,(>('11..
Tpnalyses _• _.i � ,,,.,.,.._. { is+�'S`• i .5l9,000
(materials �..._....._.w , • i
Post-Closure "Site Cary: , ,,,.,.,...._ ____.•-•--„ _-- :� I ..__.._-_- . 1
' - 1,r., i,�:) ,t' r„1,'iC�U . 3i: $1.OA.OaU
;sit .. __ ...,. ...�..... hours _ �,. ,
i;+ite inspections _ }i) 30j ._ $600,0.5.5
i;alior, acres
103 't,r. 1 �,2ri '� ! t
'settlement grading and m aA'«»... S I
"sachets disposal (offsito r:::••; ho.r,eraa!:; r.•pstr: di�pc,,:,;• �»�..... I � i ..,,,$1,170,0A0.,
280,&700 ': ,�) �7 .40i
aailons 1
including truckan9)... ..._.. .. . . _ l'''' f
f; ! ! l $2,202,000
»'1_Post Closure Cost „ . . .... . ....._ ...._—..i.._ „r I.+ .+•,. ` , , $68,8t3
.
;Total .._ _-.... .
It closure costhema:mi'ti +:'e: ;r :'r,,'•Y,;+•.-,; ,)
',st Financial Assurance '�:7: l.. iy t i•:,sl _,',{'. .;, S, b.-D =...Pog_- - -M - ,.
.__......__. _ __._.._,. i. t , {, _:_-—. „
r __ ., i „ .•area disturbed at any..givc•+; tirr,a)
?Closure, assumes 17 Acret its" 11n.ai Ge'rQ1Y { ,e. ] .f .._..._.. ,, ,
Itina! cover (assume& 3.5' ,vlt1+; till $4/vel give ',;p:;„t; •`., ,.. 12`�•v i.,:()::; ?l,;••
�i:r1 [NA 1 _ S309:oU0
1 i
152/yd) acres ?.. `' i
jdreinage construction (t►v;. Ev or ;it)r; ,F-,r 1 •et`+acrr C4% 2 3 _ __...,
'- ;y" 52'1.�U8
t linear feet __ 667• �: . ,,';' • lr,^. 1 0U
�CrEj6� .. .... -- 1?� S�:'i 'a`i: ;,.i:� 11dr{ ! +!A i $13.0
I,._,...,�-•-- ..,,. .....M, '1 acres _ j • S
revc�etation _.�.: ... ... ,._ } _.._m..... 1 I s .. _.. —M.. .. .
..__,a.. _.�_ ` _$354..50d
l,'Total Closure Cost..._. ....,_.�- » . ..; ` ` `,, $11,0O; ..
._,•t, l Alsi..._ ft t c �i i.! p) total closure cost/slte life ;:';%•,"';•; I -• l _
;First,Financial Assur, Prri� .. .:A•.•••••,,),� s•< :r;,,,,t c :,r.., I •i _..... ....».
r • . .. 1 i $2,558,sOr
f Post Closure end G[as�urs Coatsi_—�......__. ._
Sum o U3
[
Sum of Post Closure and CbaecCr• Costs F+nan�io[ Assurance Payment l s 579
B 1357 REC 02309837 11/05/92 12:23 $0.00 12/012
F 1763 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO '
EXHIBIT C
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