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. � <br /> . � <br /> LOCAL GOVERNMENT GUARANTEE WITHOUT STANDBY TRUST <br /> MADE BY A LOCAL GOVERNMENT <br /> Guarantee made this 2nd day of October 1995, by the City of Decatur, Illinois, a local <br /> government organized under the laws of Illinois, herein referred to as guarantor, to the United <br /> States Environmental Protection Agency and any and all third parties, and obligees, on behalf of <br /> the Decatur Metropolitan Exposition, Auditorium, and Office Building Authority, a unit of local <br /> government organized under the laws of the State of Illinois, herein referred to as the Authority. <br /> Recitals <br /> (1) Guarantor meets or exceeds the local government bond rating test requirements of 40 <br /> CFR part 280.104. <br /> (2) The Authority owns or operates the following underground storage tank covered by <br /> this guarantee: one (1) tank at #1 Gary K. Anderson Plaza, Decatur, Illinois 62523. This <br /> guarantee satisfies 40 CFR part 280, subpart H requirements for assuring funding for taking <br /> corrective action and/or compensating third parties for bodily injury and property damage caused <br /> by accidental releases arising from operating the above-identified underground storage tank in the <br /> amount of$500,000 per occunence and $1,000,000 annual aggregate. <br /> (3) Incident to our substantial governmental relationship with the Authority, guarantor <br /> guarantees to the United States Environmental Protection Agency and to any and all third parties <br /> and obligees that: <br /> In the event that the Authority fails to provide alternative coverage within 60 days after <br /> receipt of a notice of cancellation of this guarantee and the Director of the United States <br /> Environmental Protection Agency has determined or suspects that a release has occurred at an <br /> underground storage tank covered by this guarantee, the guarantor, upon written instructions <br /> from the Director of the United States Environmental Protection Agency sha11 make funds <br /> available to pay for corrective actions and compensate third parties for bodily injury and property <br /> damage in an amount not to exceed the coverage limits specified above. <br /> In the event that the Director of the United States Environmental Protection Agency <br /> determines that the Authority has failed to perform conective action for releases arising out of the <br /> operation of the above-identified tank in accordance with 40 CFR part 280, subpart F, the <br /> guarantor, upon written instructions from the Director of the United States Environmental <br /> Protection Agency shall make funds available to pay for corrective actions in an amount not to <br /> exceed the coverage limits specified above. <br /> If the Authority fails to satisfy a judgment or award based on a determination of liability <br /> for bodily injury or property damage to third parties caused by sudden and/or nonsudden <br /> accidental releases arising from the operation of the above-identified tank, or fails to pay an <br />