RCRAInfo Financial Assurance Case Study Examples · RCRAInfo Financial Assurance Case Study...
Transcript of RCRAInfo Financial Assurance Case Study Examples · RCRAInfo Financial Assurance Case Study...
RCRAInfo Financial Assurance Case Study Examples
Table of Contents – Hyperlinks
Case 1 – Financial Test ..................................................................................................................... 1 Case 2 – Corporate Guarantee .......................................................................................................... 2 Case 3 – Insurance ............................................................................................................................ 2 Case 4 – Letter of Credit ................................................................................................................... 2 Case 1- DuPont Test ......................................................................................................................... 3
Alternative II ....................................................................................................................................... 5 EXHIBIT A - Colorado Facilities ...................................................................................................... 6 EXHIBIT B – Other States ................................................................................................................. 7 EXHIBIT C – Plugging and Abandonment ...................................................................................... 10
Case 2 – Suncor Corporate Guarantee ............................................................................................ 11 Alternative II - Suncor ...................................................................................................................... 12 Liability Payment Bond – Suncor/COD060627189 and COD000820415 ....................................... 13 Liability Payment Bond – Suncor/ COD000109975 ........................................................................ 18
Case 3 - Safety-Kleen, Englewood Insurance (Acord form required by CO) ................................ 19 Case 4 - Syntex LOC ...................................................................................................................... 20
Syntex Standby Trust p1. .................................................................................................................. 21
Case 1 – Financial Test E. I. Du Pont de Nemours and Company (DuPont) COD007060981 submitted their “updated” financial assurance test dated March 13, 2008 and was received on April 2, 2008. DuPont’s financial test provides coverage as follow for the DuPont, CO facility:
Coverage 2008 2007 Deflator Mechanism Closure $421K $395K 1.029 (2007) Test Post-Closure $19K $18K 1.029 (2007) Test Sudden Liability $2M $2M N/A Test Non-sudden Liability $6M $6M N/A Test
DuPont also uses the financial test for Subtitle C, plugging and abandonment for many other facilities across the nation. Face Value = 157,000,000.00 is the total amount assured. Environmental Obligations: $157,000,000.00 – $8,440,000.00 = $148,560,000 amounts not covered by your state or region.
Case 2 – Corporate Guarantee Suncor Energy (U.S.A.) Inc COD060627189 submitted a revised cost estimate for post-closure and corrective action under a corrective action order in lieu of a permit. The revised corrective action cost was received on 3/28/2008 along with the corporate guarantee by Suncor Energy Inc. for $9,350,500.00 and post-closure costs of $51,558.00. These costs are under review. No additional Environmental Obligations are being reported on this Guarantee.
Coverage 2008 2008 Env. Obligation
2007 Deflator Mechanism
Post-Closure $51,558.00 0 57,037.00 N/A revised Guarantee Corrective Action $9,350,500.00 0 $18,360,669 N/A revised Guarantee Sudden Liability $2M N/A $2M N/A Payment Bond Non-sudden Liability $6M N/A $6M N/A Payment Bond
The order requires 8 million (2M Sudden, 6M Non-Sudden) liability coverage for corrective action activities which are covered by bonds. Liability coverage is no longer required for closure and post-closure.
NOTE: Suncor is the owner and operator of 3 historical separate TSD sites. COD060627189 is the main number for the site. The other two historical TSD sites are contiguous and are now being operated by the main number, but reporting will list all site EPA IDs.
Case 3 – Insurance Safety-Kleen – Englewood COD000716621 provides financial assurance on an Acord Insurance Certificate per Colorado Regulations that was received on 9/4/08. They have closure and sudden liability coverage. The closure policy provider is from Indian Harbor Insurance Company and the liability provider is from Greenwich Insurance Company. The contact is March USA Inc. and their phone number is (212) 808 1738.
Coverage 2008 2008 Env. Obligation
2007 Deflator Mechanism
Closure $145,542 N/A 141,029 1.027 (2008) Insurance Sudden Liability $2M N/A $2M N/A Insurance
Case 4 – Letter of Credit Roche Colorado Corp, COD981551286, is in post-closure under a CA Order and has annual O&M expenses that lower the PC costs. No release of funds has been requested. The LOC is with Credit Suisse First Boston LLC and the contact is John La Sasso, at (212) 325-1682. The Standby Trust is with Wachovia Bank of Georgia, N.A. and the trust contact is Dorothy Hewell, Corp Trust Officer (404)332-6649.
Coverage 2008 2007 Deflator Mechanism Post-Closure $865,648.96 $956,849.76 N/A - revised LOC Standby Trust 0 0 N/A Stand-by Trust
Case 1- DuPont Test Jeffrey L Keefer Executive Vice President Chief Financial Officer
OuPont Finance 1007 Market Street D8000 Wilmington, DE 19898 302-774-0561 Tel 302-774-7869 Fax [email protected] E-mail
March 13, 2008
Colorado Department of Public Health and Environment Hazardous Materials and Waste Management Division Attn: Mira Neumiller 4300 Cherry Creek Drive, South Mail Code: HMWMD-HWC-B2 Denver, Colorado 80246-1530 Attention: Hazardous Waste Financial Requirements
Dear Ms. Neumiller:
I am the chief financial officer of E. I. du Pont de Nemours and Company, 1007 Market Street, Wilmington, Delaware 19898. This letter is in support of this firm's use of the financial test to demonstrate financialassurance for closure and/ or post-closure cost, and liability coverage as specified in Sections 266.14 and/ or 266.16 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended.
The firm identified above is the owner or operator of the following facilities for which liabilitycoverage for both sudden and nonsudden accidental occurrences is being demonstrated through the financial testspecified in Section 266.16 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended:
EP A Identification Number
IName and Address
COD007060981 E. I. du Pont de Nemours and Company Louviers Works 12835 Main Street Louviers, CO 80131
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E.I. du Pont de Nemours and Company
The firm identified above guarantees liability coverage through the guarantee specified in Section266.16 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended for both sudden and nonsudden accidental occurrences at the follow facilities owned or operated by the following.
(None)
The firm is the owner or operator of the following facilities in Colorado for which financial assurance for closure or post-closure care is demonstrated through the financial test specified in Section 266.14 of theColorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended. The current closure and/ or post-closure cost estimates covered by the test are shown for each facility:
EP A Identification Number Name and Address
COD007060981 E. I. du Pont de Nemours and Company Louviers Works 12835 Main Street Louviers, CO 80131 (See Exhibit A)
This firm guarantees, through the guarantee specified in Section 266.14 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended, the closure and post-closure care and corrective action of the following facilities owned or operated by the guaranteed party. The current cost estimates for the closure or post-closure care and corrective action so guaranteed are shown for each facility. (None)
This firm is demonstrating financial assurance for closure or post-closure care of the following facilities not in Colorado through the use of a test equivalent or substantially equivalent to the financial test specifiedin Subpart H of 40 CFR Parts 264 and 265. The current closure or post-closure cost estimates covered by such a test are shown for each facility: (Exhibit B).
This firm is the owner or operator of the following VIC facilities for which financial assurance forplugging and abandonment is required under 40 CFR Part 144. The current closure cost estimates as required by 40CFR Section 144.62 are shown for each facility: (Exhibit C).
This firm is required to file a Form 10-K with the Securities and Exchange Commission (SEC) for thelatest fiscal year.
The fiscal year of this firm ends on December 31. The figures for the following items marked with anasterisk are derived from this owner's or operator's independently audited, year-end financial statements for the latest completed fiscal year, ended December 31, 2007.
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Alternative II
1. Sum of current closure and post-closure estimates (total of all cost estimates listed above)..........................................
2. Amount of annual aggregate liability coverage to be demonstrated... .. .. .. .. .. .. .. .. .. ... .. ... ... ...... ... . ... ... ... . ... .. ... ....
3. Sum of lines 1 and 2........................................................
4. Current bond rating of most recent issuance and name of rating service ....................... ... ... ... .................. ... ...........
5. Date of issuance of bond..................................................
6. Date of maturity of bond. ........................................................... .....
*7. Tangible net worth (if any portion of the closure or post-closure cost estimates is included in "total liabilities" on your financial statements you may add that portion to this line)...................................................
*8. Total assets in the U.S. (required only if less than 90% of assets are located in the U.S.)..................................
9. Is line 7 at least $10 million?............................................
10. Is line 7 at least 6 times line 3?.........................................
*11. Are at least 90% of assets located in the U.s.? If not complete line 12.. .. .. .. .............. ... ... ..... .......................... ....
12. Is line 8 at least 6 times line 3?.........................................
$42MM
$115MM
$157MM
A Standard and Poor's
December 03, 2007
January 15, 2013
$6,206MM
$18,671MM
Yes
Yes
No
Yes
Jeffrey L. Kiefer Executive Vice President & Chief Financial Officer March 13, 2008
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PART A CLOSURE OR POST-CLOSURE CARE AND LIABILITY COVERAGE
ALTERNATIVE II
I hereby certify that the wording of this letter is identical to the wording specified in §266.18(i) of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended, as such regulations were constituted on the date shown immediately below.
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EXHIBIT A - Colorado Facilities
EPA Identification Number
COD007060981
EXHIBIT A
E. I. DU PONT DE NEMOURS & COMPANY
Facilities For Which Financial Assurance For Closure Or Post-Closure Care Is Demonstrated Through The Test
Specified In Section 266.14
Estimated Costs (dollars in thousands) Closure Post-
Closure Name and Address
E. I. du Pont de Nemours and Company Louviers Works 12835 Main Street Louviers, CO 80131
421
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EXHIBIT B – Other States
EPA Identification Number
EP A Region I
CTD001453216
CTD072115793
EP A Region II
NJD002385730
PRD981130131
EP A Region III
DED000800284
DED003930807
WVD005012851
EXHIBIT B
E. I. DU PONT DE NEMOURS & COMPANY
Facilities For Which Financial Assurance For Closure Or Post-Closure Care Is Demonstrated Through A State's Financial Test Substantially Equivalent To That
Specified In Subpart H of Parts 264 And 265
Name and Address
Estimated Costs (dollars in thousands) Closure Post-
Closure
Sporting Goods Properties, Inc. 615 Asylum Street Bridgeport, CT 06610-2190
30 40
Kendro Laboratory Products LP 31 Pecks Lane Newtown, CT 06470
76
E. I. du Pont Nemours and Company Chambers Works Rt. 130 Deepwater, NJ 08023
988 6,897
E. I. du Pont de Nemours and Company Manati Plant Highway 686, Km. 2.3 Manati, PR 00701
2,116
E. I. du Pont de Nemours and Company Edge Moor Plant 104 Hay Road Wilmington, DE 19809
111 2,980
E. I. du Pont de Nemours and Company Experimental Station Route 141, Henry Clay Wilmington, DE 19880
710
E. I. du Pont de Nemours and Company Belle Plant 901 W. DuPont Avenue Belle, WV 25015
409
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EPA Estimated Costs Identification (dollars in thousands) Number Name and Address Closure Post-Closure
WVD045875291 E. I. du Pont de Nemours and Company 584
Washington Works Rt. 892 South
Parkersburg, WV 26181
EP A Region IV
KYD003924198 E. I. du Pont de Nemours and Company - 940
Louisville Works 4200 Camp Ground Road Louisville, KY 40216
MSD033417031 E. I. du Pont de Nemours and Company 3,305 182
First Chemical Corporation 1001 Industrial Road
Pascagoula, MS 39581
MSD96046792 E. I. du Pont de Nemours and Company 4,076
De Lisle Plant 7685 Kiln-DeLisle Road
Pass Christian, MS 39571
NCD047368642 E. I. du Pont de Nemours and Company 821
Fayetteville Works Plant Highway #87S P. O. Drawer Z
Fayetteville, NC 28302
NCD003190386 E. I. du Pont de Nemours and Company 123
Kinston Plant Highway 11 North Kinston, NC 28502
TND004044491 E. I. du Pont de Nemours and Company 24
New Johnsonville Plant DuPont Road
New Johnsonville, TN 37134
EP A Region V
OHD005041843 E. I. du Pont de Nemours and Company 652
Toledo Plant 1930 Tremainsville Road
Toledo, OH 43613
OHD004855292 E. I. du Pont de Nemours and Company 133
DuPont Electronic Polymers, LP 1515 Nicholas Road Dayton, OH 45418-2700 T:\User Folders\SANDELL\Financial Assurance\2008\RCRA\C0\2008 COFinAssur.doc Page 7
EPA Estimated Costs Identification (dollars in thousands) Number Name and Address Closure Post-Closure
E I. du Pont de Nemours and Company 705 183
East Chicago 5215 Kennedy Avenue
East Chicago, Indiana 46312
EP A Region VI
LADOO1890367 E. I. du Pont de Nemours and Company 1,576
Pontchartrain Works 560 Highway 44 LaPlace, LA 70068
TXD008081101 E. I. du Pont de Nemours and Company - 1,651
Beaumont Works Plant Highway 347 Beaumont, TX 77705
TXD008079642 E. I. du Pont de Nemours and Company 3,489
Sabine River Works FM1006
Orange, TX 77630
TXD008123317 E. I. du Pont de Nemours and Company - 1,621
Victoria Plant Old Bloomington Road
Victoria, TX 77901
ARD047335922 Sporting Goods Properties, Inc. - 848
Lonoke, AR 72086
EP A Region IX
CAD009151671 E. I. du Pont de Nemours and Company - 310
Antioch Works 6000 Bridgehead Road Antioch, CA 94509
Totals 19,928 15,652
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EXHIBIT C – Plugging and Abandonment
EXHIBIT C
E. I. DU PONT DE NEMOURS & COMPANY
Facilities For Which Financial Assurance For Plugging and Abandonment Is Required By 40 CFR 144.62
EPA Identification Number Name and Address
Estimated Costs (dollars in thousands) Plu£!rin£ & Abandonment
EP A Region IV
E. I. du Pont de Nemours and Company 3,687 De Lisle Plant
7685 Kiln - De Lisle Road
Pass Christian, MS 39571
EP A Region VI
TXD008081101 E. I. du Pont de Nemours and Company 228
Beaumont Works Highway 347 Beaumont, TX 77705
TXD008079212 E. I. du Pont de Nemous and Company 717
LaPorte Plant 12501 Strang Road LaPorte, TX 77571
LAD001890367 E. I. du Pont de Nemours and Company 1,794
Pontchartrain Works 560 Highway 44 LaPlace, LA 70068
Total 6,426
MSD096046792
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Case 2 – Suncor Corporate Guarantee
March 26, 2008 Suncor Energy Inc. P.O. Box 3B 112 4th Avenue S.W. Calgary, Alberta T2P 2V5 Tel (403) 269-8100 Fax (403) 269-6200 Website: www.suncor.com
Colorado Department of Public Health and Environment Hazardous Materials and Waste Management Division 4300 Cherry Creek Drive South Mail Code: HMWMD-HWC-B2 Denver, Colorado 80246-1530
Dear Sirs:
Re: Financial Assurance per Part 266 Colorado Hazardous Waste Regulations Suncor Energy (U.S.A) Inc.
1. I am the chief financial officer of Suncor Energy Inc., 112 4th Ave., S.W., Calgary, Alberta, Canada T2P 2V5. This letter is in support of this firm's use of the financial test to demonstrate financial assurance as guarantor for closure and/or post-closure costs as specified in § 266.14 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended.
2. This firm is the owner or operator of the following facilities in Colorado for which financial assurance for closure or post-closure care is demonstrated through the financial test specified in § 266.14 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended. The current closure and/or post-closure cost estimates covered by the test are shown for each facility: None.
3. This firm guarantees, through the guarantee specified in § 266.14 of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended, the closure and post-closure care of the following facilities owned or operated by the guaranteed party. The current cost estimates for the closure or post-closure care so guaranteed are shown for each facility:
COD 060627189 Suncor Energy (U.S.A.), Inc. Denver Refinery 5801 Brighton Blvd. Commerce City, CO 80022, and
COD 000109975 Suncor Energy (U.S.A.), Inc. Denver Refinery 5800 Brighton Blvd. Commerce City, CO 80022, and
COD 000820415 Suncor Energy (U.S.A.), Inc. Denver Asphalt Unit 3875 East 56th Avenue Commerce City, CO 80022
Closure: N/A Post-closure: $51,558 Corrective Action, Compliance Order on Consent 07-05-25-01: $9,350,500
Alternative II - Suncor
Colorado Department of Public Health and Environment Hazardous Materials and Waste Management Division March _' 2008 Page 2 Please note that the above facilities constitute one contiguous refinery, one
Facility, and that the COD numbers are provided for reference per Compliance Order on Consent 07-05-25-01.
The firm identified above is the higher-tier parent corporation of the owner or operator.
4. This firm is demonstrating financial assurance for closure or post-closure care of the following facilities not in Colorado through the use of a test equivalent or substantially equivalent to the financial test specified in Subpart H of 40 CFR Parts 264 and 265. The current closure or postclosure cost estimates covered by such a test are shown for each facility: None.
5. This firm is the owner or operator of the following UIC facilities for which financial assurance for plugging and abandonment is required under 40 CFR Part 144. The current closure cost estimates as required by 40 CFR § 144.62 are shown for each facility: None.
6. Suncor Energy Inc. is not required to file a Form 10K with the Securities and ExchangeCommission (SEC) for the latest fiscal year.
7. The fiscal year of this firm ends on December 31st. The figures for the following items marked with an asterisk are derived from this firm's independently audited, year-end financial statements for the latest completed fiscal year, ended December 31,2007.
108 Closure or Post-Closure Care Only
Alternative II
1. Sum of current closure and post-closure cost estimates (total of all costs estimates listed above). $9,402,058
. 2. Current Senior Debt Rating of most recent issuance of this firm and name of rating service. Moody's A3
3. Date of issuance of bond. July 8, 2004
4. Date of maturity of bond. December 1, 2034
8. I hereby certify that the wording of this letter is identical to the wording specified in § 266.18(i) of the Colorado Hazardous Waste Regulations, 6 CCR 1007-3, as amended, as such regulations were constituted on the date shown immediately below.
\If ,_' ~h;;'77!/A J. Kenneth Alley Senior Vice President and Chief Financial Officer
Liability Payment Bond – Suncor/COD060627189 and COD000820415
PAYMENT BOND
Surety Bond No.104334658 Parties Suncor Energy (U.S.A.), Inc., 7800 E. Orchard Road, Suite 300, Greenwood Village, Colorado 80111, as Principal, incorporated in Delaware of Denver, Colorado and Travelers Casualty and Surety Company of America, One Tower Square, Hartford, CT 06183-9062, as Surety Company(ies), of Hartford, CT.
EPA Identitication Number, name, and address for each facility guaranteed by this bond:
1. Refinery 5801 Brighton Blvd. Commerce City, CO 80022 EPA ID# COO 060627189
2. Asphalt Plant 3875 East 56th Avenue Commerce City, CO 80022 EPA ID # COO000820415
Sudden and Non Sudden accidental occurrences
Penal Sum Per Occurrence, $4,000,000
Annual Aggregate, $8,000,000
Purpose: This is an agreement between the Surety(ies) and the Principal under which the Surety(ies), its successors and assignees, agree to be responsible for the payment of claims against the Principal for bodily injury and/or property damage to third parties caused by sudden and non sudden accidental occurrences arising ITom operations of the facility or group of facilities in the sums prescribed herein: subject to the governing provisions and the following conditions.
Governing Provisions:
I. The Colorado Hazardous Waste Act, as amended.
2. Rules and regulations 0 fthe Color ado Department of Public Health and Environment, Hazardous Materials and Waste Management Division, particularly The Colorado Hazardous Waste Regulations 6 CCR 1007-3 § 266.16(j).
Conditions:
1. The Principal is subject to the applicable governing provisions that require the Principal to have and maintain liability coverage for bodily injury and property damage to third parties caused by sudden and
Surety Bond N( -. 04334658
non sudden accidental occurrences arising from operations of the facility or group offacilities. Such obligation does not apply to any of the following:
(a) Bodily injury or property damage for which Suncor Energy (U.S.A.), Inc. is obligated to pay damages by reason of the assumption ofliability in a contract or agreement. This exclusion does not apply to liability for damages that Suncor Energy (U.S.A.), Inc. would be obligated to pay in the absence of the contract or agreement.
(b) Any obligation of Sun cor Energy (U.S.A.), Inc. under a workers' compensation, disabilitybenefits, or unemployment compensation law or similar law.
(c) Bodily injury to:
(i) An employee of Sun cor Energy (U.S.A.), Inc. arising from, and in the course of,employment by [insert principal]; or
(ii) The spouse, child, parent, brother or sister of that employee as a consequence of, or arising from, and in the course of employment by Suncor Energy (U.S.A.), Inc.. This exclusion applies:
(A) Whether Sun cor Energy (U.S.A.), Inc. may be liable as an employer or in anyother capacity; and
(B) To any obligation to share damages with or repay another person who must pay damages because of the injury to persons identified in paragraphs (I) and (2).
(d) Bodily injury or property damage arising out ofthe ownership, maintenance, use, orentrustment to others 0 f any aircraft, motor vehicle 0 r watercraft.
(e) Property damage to:
(I) Any property owned, rented, or occupied by Suncor Energy (U.S.A.), Inc.;
(2) Premises that are sold, given away or abandoned by Suncor Energy (U.S.A.), Inc. if the property damage arises out of any part of those prem ises;
(3) Property loaned to Suncor Energy (U.S.A.), Inc.;
(4) Personal property in the care, custody or control of Sun cor Energy (U.S.A.), Inc.;
(5) That particular part of real property on which Suncor Energy (U.S.A.), Inc. or any contractors or subcontractors working directly or indirectly on behalf of Sun cor Energy (U.S.A.), Inc. are performing operations, if the property damage arises out of these operations.
2. This bond assure s that the Principal will satisfy valid third party liability claims, as described in condition I.
3. If the Principal fails to satisfy a valid third party liability claim, as described above, the Surety(ics)becomes liable on this bond obligation.
4. The Surety(ies) shall satisfy a third party liability claim only upon the receipt of one of the following documents:
Surety Bond No.1 04334658
(a) Certification from the Principal and the third party claimant(s) that the liability claim should bepaid. The certification must be worded as follows, except that instructions in brackets are to be replaced with the relevant information and the brackets deleted:
Certification of Valid Claim
The undersigned, as parties [insert name of Principal] and [insert name and address of third party claim ant(s)], here by certify that the claim of bodily injury an d/or property damage caused by a sudden and non sudden accidental occurrence arising from operation [Principal's] hazardous waste treatment, storage, or disposal facility should be paid in the amount of [$ 1.
[Signature]
Principal
[Notary] Date
[Signature(s)]
Claimant(s)]
[Notary] Date
or
(b) A valid final court order establishing ajudgment against the Principal for bodily injury or property damage caused by sudden or non sudden accidental occurrences arising from the operation of the Principal's facility or group offacilities.
5. In the event of combination of this bond with another mechanism for liability coverage, this bond will be considered primary coverage.
6. The liability of the Surety(ies) shall not be discharged by any payment or succession of payments hereunder, unless and until such payment or payments shall amount in the aggregate to the penal sum of the bond. In no event shall the obligation ofthe Surety(ies) hereunder exceed the amount of said annual aggregate penal sum, provided that the Surety(ies) furnish( es) notice to the Department forthwith of all claims filed and payments made by the Surety(ies) under this bond.
7. The Surety(ies) may cancel the bond by sending notice of cancellation by certified mail to the Principal and the Department, provided, however, that cancellation shall not occur during the 120 days beginning on the date of receipt of the notice of cancellation by the Department, as evidenced by the return receipt.
8. The Principal may terminate this bond by sending written notice to the Surety(ies) and to the Department.
9. The Surety(ies) hereby waive(s) notification of amendments to applicable laws, statutes, rules and regulations and agree(s) that no such amendment shall in any way alleviate its (their) obligation on this bond.
10. This bond is effective from July 8, 2004 (12:01 a.m., standard time, at the address ofthe Principal
Surety Bond No. . J4334658
as stated herein) and shall continue in force until terminated as described above.
In Witness Whereof, the Principal and Surety(ies) have executed this Bond and have affixed their seals on the dateset forth above.
The persons w hose signatures appear below hereby certify that they are authorized to execute this surety bond on behalf of the Principal and Surety(ies) and that the wording of this surety bond is identical to the wording specified in § 266.18(m) of the Colorado Hazardous Waste Regulations 6 CCR 1007-3, as amended, as such regulations were constituted on the date this bond was executed.
By:
PRINCIPAL
By:,
Mi kf) Ash?lr Type Name
Kristopher P. Smith Type Name
President Titlp. Secretary Title
[Corpol'a~e Sea!]
CORPORATE SURETY(IES)
Travelers C&sua:ty and Surety Company of AmericaOn(~ Tower Square, Hartford, CT 06183-9062
Surety Name and address
Connecticut State of incorporation:
Teresa D. Kelly, Attorney-in-fact (Seal)(Namc(s) and title(s)]
Bond premjum:$~OOO.OO
TRA VEJ...ERS CASUALTY AND SURETY COMPANY OF -'-'1ERICA \. VELERS CASUALTY AND SURETY COMP, FARMINGTON CASUALTY
COMPANY Hartford, Connecticut 06183-9062
POWER OF ATTORNEY AND CERTIFICATE OF AUTHORITY OF A TTORNEY(S)-IN-FACT
KNOW ALl. PERSONS BY THESE PRESENTS, THAT TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA,TRAVELERS CASUALTY AND SURETY COMPANY and FARMINGTON CASUALTY COMPANY, corporations dulyorganized under the laws of the State of Connecticut, and having their principal offices in the City of Hartford, County of Hartford. State of Connecticut, (hereinafter the "Companies") hath made, constituted and appointed. and do by these presents make. constituteand appoint: Teresa D. Kelly, Dan W. Burton, Benjamin D. Wilcox, of Houston, Texas. their true and lawful Attorney(s)-in-Fact. with full power and authority hereby conferred to sign, execute and acknowledge, at any place within the United States, thefollowing instrument(s): by his/her sole signature and act, any and all bonds, recognizances, contracts of indemnity, and other writings obligatory in the nature of a bond, recognizance, or conditional undertaking and any and all consents incident thereto and tobind the Companies, thereby as fully and to the same extent as if the same were signed by the duly authorized officers of theCompanies, and all the acts of said Attorney(s)-in-Fact, pursuant to the authority herein given, are hereby ratified and confirmed.
This appointment is made under and by authority of the following Standing Resolutions of said Companies, which Resolutions are now in full force and effect:
VOTED: That the Chainnan, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President, any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary may appoint Attorneys-in-Fact and Agents to act for and on behalf of the company and may give such appointee such authority as his or her certificate of authority may prescribe to sign with the Company's name and seal withthe Company's seal bonds, recognizances, contracts of indemnity, and other writings obligatory in the nature of a bond, recognizance, or conditional undertaking, andany of said officers or the Board of Directors at any time may remove any such appointee and revoke the power given him or her.
VOTED: That the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President may delegate all or any part of the foregoing authority to one or more officers or employees of this Company, provided that each such delegation is in writing and a copy thereof is filed in the office of the Secretary.
VOTED: That any bond, recognizance, contract of indemnity, or writing obligatory in the nature of a bond, recognizance, or conditional undertaking shall be valid and binding upon the Company when (a) signed by the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary and duly attested and sealed with the Company's seal by a Secretary or Assistant Secretary, or (b) duly executed (under seal, if required) by one or more Attorneys-in-Fact and Agents pursuant to the power prescribed in his or her certificate or their certificates of authority or by one or more Company officers pursuant to a written delegation of authority.
This Power of Attorney and Certificate of Authority is signed and sealed by facsimile (mechanical or printed) under and by authority of the following Standing Resolution voted by the Boards of Directors of TRA VELERS CASUALTY AND SURETY COMPANYOF AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY and FARMINGTON CASUALTY COMPANY, whichResolution is now in full force and effect:
VOTED: That the signature of each of the following officers: President, any Executive Vice President, any Senior Vice President, any VicePresident, any Assistant Vice President, any Secretary, any Assistant Secretary, and the seal of the Company may be affixed by facsimile to anypower of attorney or to any certificate relating thereto appointing Resident Vice Presidents, Resident Assistant Secretaries or Attorneys-in-Fact forpurposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof, and any such power ofattorney or certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Company and any such power soexecuted and certified by such facsimile signature and facsimile seal shall be valid and binding upon the Company in the future with respect to anybond or undertaking to which it is attached.
(11-00 Standard)
Liability Payment Bond – Suncor/ COD000109975
~STPAUL ~ TRAVELERS
RIDER
To be attached to bond known as Bond No. 104334658
issued by TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA (as Surety),
in the amount of Penal Sum Per Occurrence $4.000.000/Annual Aggregate $8.000.000.00
effective July 8. 2004
on behalf of Suncor Energy (U.S.A.). Inc. (as principal)
in favor of Colorado Department of Public Health and Environment (as Obligee)
In consideration of the premium charged for the above bond, it is mutually understood and agreed by the Principal and the Surety that:
The following facility is added and guaranteed by this bond:
3. Refinery 5800 Brighton Blvd. Commerce City, CO 80022 EPA ID# COD 000109975
All other terms, limitations, and conditions of said bond except as herein expressly modified shall remainunchanged.
This rider shall be effective as of the ~ day of August, 2005.
Signed, sealed and dated the 4th day of August, 2005.
(Principal)
By
TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA (Surety)
ey-in-F'ict
Case 3 - Safety-Kleen, Englewood Insurance (Acord form required by CO)
Case 4 - Syntex LOC
Syntex Standby Trust p1.