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revocation of this License. Said bond shall provide that if the Licensee refuses to • obey any of the requirements or to any of the acts required by this License or for any reason ceases to operate or abandons the landfill, and the City is required to expend monies or labor or material to restore, repair, or clean up the Landfill Site to the condition and requirements required by law, the obligor shall reimburse the City for any and all expenses incurred to remedy the failure of the Licensee to comply with this License, and the obligor shall indemnify and save the City harmless from all losses, costs, and charges that may occur to the City because of any default by the Licensee. The bond may be in a form exercisable by both the City and the County provided that such exercise feature allows its use on instruction by either or both the City or County. (02) In the event this, or any subsequent license is revoked or the Licensee closes operation of the landfill for any reason, including but without limitation, order of the court or other agency of competent jurisdiction, bankruptcy, insolvency, or abandonment, the Licensee shall immediately proceed to close, cover, and grade the Landfill Site according to an environmentally sound closure plan which shall be approved by the City and which shall comply with all requirements of the MPCA and Sherburne County relating to final closure. In the event the Licensee fails to comply with the terms of this subparagraph (02), the City may, upon ninety (90) days' prior notice to the Licensee, enter onto the property and perform all such obligations, the costs of which shall be borne by the Licensee, or, in default thereof, by its surety. (03) In lieu of the bond required in this section, Licensee shall fund an interest • bearing escrow account at the City. Licensee shall deposit an initial sum of $17,325.19 and thereafter $.10 shall be deposited monthly into this account for each cubic yard of mixed municipal solid waste disposed of at the Landfill until the escrow account (including interest) has reached a total of $250,000. Interest shall then continue to accrue and remain in the escrow account until the escrow account reaches the total amount of $400,000. Interest earned thereafter shall be deposited in the City's general fund. Disbursements from this escrow account shall be made only for the purposes described in part (01) herein until the completion of all closure and post-closure monitoring activities at the Landfill Property to the satisfaction of the City, at which time any account balance shall be disbursed to Licensee. 13.) Applicability of License. This License shall apply to the entire Landfill Property. 14.) License Period. This renewed License shall be in force and effect until January 31, 2000. 15.) Violation of Conditions. If the Licensee or its successors or assigns violate any term or condition imposed by this License, this License may be revoked and terminated. Without limiting the foregoing, the violation of any statute, regulation, ordinance, or license • PXB 100940 15.