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<br />renew the bond shall be an event of default of the <br />obligations of the Permittee and shall constitute ground <br />for immediate and automatic revocation of this permit. <br />Said bond shall provide that if the Permittee refuses to <br />obey any of these requirements or to any of the acts <br />required by this Conditional Use Permit or for any reason <br />ceases to operate or abandons the landfill, and the City is <br />required to expend monies or labor or material to restore <br />the Landfill Site to the condition and requirements <br />required by this Conditional Use Permit, the obligor shall <br />reimburse the City for any and all expenses incurred to <br />remedy the failure of the Permittee to comply with this <br />permit, and the obligor shall indemnify and save the City <br />harmless from all losses, costs, and charges that may occur <br />to the City because of any default by the Permittee. The <br />bond may be in a form exercisable by both the City and the <br />County provided that such exercise feature allows its use <br />on instruction by either or both the City or County. <br /> <br />. <br /> <br />(02) In the event this, or any subsequent permit is <br />revoked or the Permittee closes operation of the landfill <br />for any reason, including but without limitation, order of <br />the court or other agency of competent jurisdiction, <br />bankruptcy, insolvency, or abandonment, the Permittee shall <br />immediately proceed to close, cover, and grade the Landfill <br />Site according to an environmentally sound closure plan <br />which shall be approved by the City and which shall comply <br />with all requirements of the PCA and Sherburne County <br />relating to final closure. In the event the Permittee <br />fails to comply with the terms of this subparagraph (02), <br />the City may, upon ninety (90) days' prior notice to the <br />Permittee, enter into the property and perform all such <br />obligations, the costs of which shall be borne by the <br />Permittee, or, in default thereof, by its surety. <br /> <br />. <br /> <br />(03) In lieu of the bond required in this section, the <br />Permittee shall fund an interest bearing escrow account at <br />the City. Permittee shall deposit an initial sum of <br />$17,325.19 and thereafter $.10 shall be deposited monthly <br />into this account for each cubic yard of mixed municipal <br />solid waste disposed of at the Landfill until the escrow <br />account (including interest) has reached a total of <br />$250,000. Interest shall then continue to accrue and <br />remain in the escrow account until the escrow account <br />reaches the total amount of $400,000. Interest earned <br />thereafter shall be deposited in the City's general fund. <br />Disbursements from this escrow account shall be made only <br />for the purposes described in part (01) herein until the <br />completion of all closure and postclosure monitoring <br />activities at the Landfill Property to the satisfaction of <br />the City, at which time any account balance shall be <br />disbursed to Permittee. <br /> <br />12.) Aoplicability of Conditional Use Permit. This permit <br />shall apply to the entire Landfill Site including the <br /> <br />. <br /> <br />14. <br />