Section 10.12 - Performance GuaranteesThe DEC shall require the applicant to provide a performance guarantee (in accordance with 974 CMR 1.12) for the following:
(1) The construction of the proposed facility and any associated site work;(2) The catastrophic failure, collapse, or other destruction of the tower or other portions of the facility. (This bond may be waived by the Director upon annual filing of proof of insurance in amounts acceptable to the DEC);(3) The demolition of the tower and any other portion of the facility and site improvements associated with the facility in the event the facility is abandoned. This non-cancelable bond or guarantee shall be inanamount required to remove the facility and restore the land to an undeveloped or other condition as specified by the Director. Performance guarantee amounts shall be reviewed and updated upon the application of the facility operator for a permit term renewal or any extension of the permit or facility. The Director may also review the guarantees periodically and require additional surety to be posted.