DEP Form 62-730.900(4)(R) "Hazardous Waste Facility Standby Trust Fund to Demonstrate Liability Coverage" - Florida

What Is DEP Form 62-730.900(4)(R)?

This is a legal form that was released by the Florida Department of Environmental Protection - a government authority operating within Florida. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on January 29, 2006;
  • The latest edition provided by the Florida Department of Environmental Protection;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

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DEP Form # 62-730.900(4)(r)
Form Title: HWF Liability Standby Trust Fund
Effective Date: 1-29-06
DEP Application #
STATE OF FLORIDA
HAZARDOUS WASTE FACILITY STANDBY TRUST FUND
TO DEMONSTRATE LIABILITY COVERAGE
TRUST AGREEMENT, the "Agreement", entered into as of____________________________
[Date]
by and between ___________________________________________________________________
[Name of the Owner or Operator]
a ______________________
_______________________________________ , the “Grantor”,
[Name of State]
[insert "corporation", "partnership", "association" or "proprietorship"]
and _____________________________________________________________________________
[Name & Address of Corporate Trustee]
_______________________________________________________________________________ ,
___________________________________________________________________ , the “Trustee”.
[insert "incorporated in the State of _________________" or "a national bank”]
WHEREAS, the Florida Department of Environmental Protection, “FDEP”, an agency of the
State of Florida, has established certain regulations applicable to the Grantor, requiring that an
owner or operator of a hazardous waste management facility or group of facilities must demonstrate
financial responsibility for bodily injury and property damage to third parties caused by sudden
accidental and/or nonsudden accidental occurrences arising from operations of the facility or group
of facilities.
WHEREAS, the Grantor has elected to establish a standby trust into which the proceeds from a
letter of credit may be deposited to assure all or part of such financial responsibility for the facilities
identified herein.
WHEREAS the Grantor, acting through its duly authorized officers, has selected the Trustee to
be the trustee under this agreement and the Trustee is willing to act as trustee.
NOW THEREFORE, the Grantor and the Trustee agree as follows:
Section 1. Definitions. As used in this Agreement:
(a) The term “Grantor” means the owner or operator who enters into this Agreement and any
successors or assigns of the Grantor.
(b) The term “Trustee” means the Trustee who enters into this Agreement and any successor
Trustee.
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DEP FORM 62-730.900(4)(r) effective 1-29-06
SAVE
PRINT
CLEAR
DEP Form # 62-730.900(4)(r)
Form Title: HWF Liability Standby Trust Fund
Effective Date: 1-29-06
DEP Application #
STATE OF FLORIDA
HAZARDOUS WASTE FACILITY STANDBY TRUST FUND
TO DEMONSTRATE LIABILITY COVERAGE
TRUST AGREEMENT, the "Agreement", entered into as of____________________________
[Date]
by and between ___________________________________________________________________
[Name of the Owner or Operator]
a ______________________
_______________________________________ , the “Grantor”,
[Name of State]
[insert "corporation", "partnership", "association" or "proprietorship"]
and _____________________________________________________________________________
[Name & Address of Corporate Trustee]
_______________________________________________________________________________ ,
___________________________________________________________________ , the “Trustee”.
[insert "incorporated in the State of _________________" or "a national bank”]
WHEREAS, the Florida Department of Environmental Protection, “FDEP”, an agency of the
State of Florida, has established certain regulations applicable to the Grantor, requiring that an
owner or operator of a hazardous waste management facility or group of facilities must demonstrate
financial responsibility for bodily injury and property damage to third parties caused by sudden
accidental and/or nonsudden accidental occurrences arising from operations of the facility or group
of facilities.
WHEREAS, the Grantor has elected to establish a standby trust into which the proceeds from a
letter of credit may be deposited to assure all or part of such financial responsibility for the facilities
identified herein.
WHEREAS the Grantor, acting through its duly authorized officers, has selected the Trustee to
be the trustee under this agreement and the Trustee is willing to act as trustee.
NOW THEREFORE, the Grantor and the Trustee agree as follows:
Section 1. Definitions. As used in this Agreement:
(a) The term “Grantor” means the owner or operator who enters into this Agreement and any
successors or assigns of the Grantor.
(b) The term “Trustee” means the Trustee who enters into this Agreement and any successor
Trustee.
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DEP FORM 62-730.900(4)(r) effective 1-29-06
(c) The term “FDEP” means the Florida Department of Environmental Protection, an agency of the
State of Florida or any successor thereof.
Section 2. Identification of Facilities. This agreement pertains to the facilities identified on attached
Schedule A. [
On Schedule A, for each facility, list the EPA/DEP identification number, name and address of the facility(ies) and the amount of
liability coverage, or portions thereof, if more than one instrument affords combined coverage as demonstrated by this Agreement.]
Section 3. Establishment of Fund. The Grantor and the Trustee hereby establish a standby trust
fund, hereafter the "Fund", for the benefit of any and all third parties injured or damaged by
____________________________ accidental occurrences arising from operation of the facility(ies)
[sudden and/or nonsudden]
covered by this guarantee, in the amounts of _____________ per occurrence and ______________
[up to $1 million]
[up to $2 million]
annual aggregate for sudden accidental occurrences and ___________________ per occurrence and
[up to $3 million]
______________________ annual aggregate for nonsudden occurrences, except that the Fund is not
[up to $6 million]
established for the benefit of third parties for the following:
(a) Bodily
injury
or
property
damage
for
which
__________________________________________
[Grantor]
is obligated to pay damages by reason of the assumption of liability in a contract or agreement. This
exclusion does not apply to liability for damages that _____________________________________
[Grantor]
would be obligated to pay in the absence of the contract or agreement.
(b) Any obligation of ____________________________________ under a workers' compensation,
[Grantor]
disability benefits or unemployment compensation law or any similar law.
(c) Bodily injury to:
(1) An employee of _________________________________________________ arising from, and
[Grantor]
in the course of, employment by __________________________________________________ ; or
[Grantor]
(2) The spouse, child, parent, brother or sister of that employee as a consequence of, or arising
from,
and
in
the
course
of
employment
by
_______________________________________________.
[Grantor]
This exclusion applies:
(A) Whether _______________________ may be liable as an employer or in any other capacity;
and
[Grantor]
(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 (1) and (2).
(d) Bodily injury or property damage arising out of the ownership, maintenance, use or entrustment
to others of any aircraft, motor vehicle or watercraft.
(e) Property damage to:
(1) Any property owned, rented, or occupied by ________________________________________;
[Grantor]
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DEP FORM 62-730.900(4)(r) effective 1-29-06
(2) Premises that are sold, given away or abandoned by ___________________________________
[Grantor]
if the property damage arises out of any part of those premises;
(3) Property loaned to_____________________________________________________________ ;
[Grantor]
(4) Personal property in the care, custody or control of ___________________________________ ;
[Grantor]
(5) That particular part of real property on which __________________________or any contractors
[Grantor]
or subcontractors working directly or indirectly on behalf of _______________________________
[Grantor]
are performing operations, if the property damage arises out of these operations.
In the event of combination with another mechanism for liability coverage, the fund shall be
considered ______________________________ coverage.
[insert "primary" or "excess"]
The Fund is established initially as consisting of the proceeds of the letter of credit deposited into
the Fund. Such proceeds and any other property subsequently transferred to the Trustee is referred
to as the Fund, together with all earnings and profits thereon, less any payments or distributions
made by the Trustee pursuant to this Agreement. The Fund shall be held by the Trustee, IN TRUST,
as hereinafter provided. The Trustee shall not be responsible nor shall it undertake any
responsibility for the amount or adequacy of, nor any duty to collect from the Grantor, any
payments necessary to discharge any liabilities of the Grantor established by FDEP.
Section 4. Payment for Bodily Injury or Property Damage. The Trustee shall satisfy a third party
liability claim by drawing on the letter of credit described in Schedule B and by making payments
from the Fund only upon receipt of one of the following documents:
(a) Certification from the Grantor and the third party claimant(s) that the liability claim should be
paid. The certification must be worded as follows:
Certification of Valid Claim
The undersigned, as parties ______________________________________________________ and
[Grantor]
________________________________________________________________________________
[Name and Address of Third Party Claimant(s)]
_______________________________________________________________________________ ,
hereby certify that the claim of bodily injury and/or property damage caused by a
__________________________________________ accidental occurrence arising from operating
[insert “sudden” or “nonsudden”]
_________________________________________________ hazardous waste treatment, storage or
[Grantor's]
disposal facility should be paid in the amount of $ _______________________________________.
______________________________________
_____________________________________
[Signature of the Grantor]
[Signatures of the Claimant(s)]
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DEP FORM 62-730.900(4)(r) effective 1-29-06
(b) A valid final court order establishing a judgment against the Grantor for bodily injury or
property damage caused by sudden or nonsudden accidental occurrences arising from the operation
of the Grantor's facility or group of facilities.
Section 5. Payments Comprising the Fund. Payments made to the Trustee for the Fund shall consist
of the proceeds from the letter of credit drawn upon by the Trustee in accordance with the
requirements of 40 CFR 264.151(k) and Section 4 of this Agreement.
Section 6. Trustee Management. The Trustee shall invest and reinvest the principal and income, in
accordance with general investment policies and guidelines which the Grantor may communicate in
writing to the Trustee from time to time, subject, however, to the provisions of this Section. In
investing, reinvesting, exchanging, selling, and managing the Fund, the Trustee shall discharge his
duties with respect to the trust fund solely in the interest of the beneficiary and with the care, skill,
prudence, and diligence under the circumstances then prevailing which persons of prudence, acting
in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a like
character and with like aims; except that:
(i) Securities or other obligations of the Grantor, or any other owner or operator of the facilities, or
any of their affiliates as defined in the Investment Company Act of 1940, as amended, 15 U.S.C.
80a-2(a), shall not be acquired or held, unless they are securities or other obligations of the Federal
or a State government;
(ii) The Trustee is authorized to invest the Fund in time or demand deposits of the Trustee, to the
extent insured by an agency of the Federal or a State government; and
(iii) The Trustee is authorized to hold cash awaiting investment or distribution uninvested for a
reasonable time and without liability for the payment of interest thereon.
Section 7. Commingling and Investment. The Trustee is expressly authorized in its discretion:
(a) To transfer from time to time any or all of the assets of the Fund to any common, commingled,
or collective trust fund created by the Trustee in which the Fund is eligible to participate, subject to
all of the provisions thereof, to be commingled with the assets of other trusts participating therein;
and
(b) To purchase shares in any investment company registered under the Investment Company Act of
1940, 15 U.S.C. 80a-1 et seq., including one which may be created, managed, underwritten, or to
which investment advice is rendered or the shares of which are sold by the Trustee. The Trustee
may vote such shares in its discretion.
Section 8. Express Powers of Trustee. Without in any way limiting the powers and discretions
conferred upon the Trustee by the other provisions of this Agreement or by law, the Trustee is
expressly authorized and empowered:
(a) To sell, exchange, convey, transfer or otherwise dispose of any property held by it, by public or
private sale. No person dealing with the Trustee shall be bound to see to the application of the
purchase money or to inquire into the validity or expediency of any such sale or other disposition;
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DEP FORM 62-730.900(4)(r) effective 1-29-06
(b) To make, execute, acknowledge and deliver any and all documents of transfer and conveyance
and any and all other instruments that may be necessary or appropriate to carry out the powers
herein granted;
(c) To register any securities held in the Fund in its own name or in the name of a nominee and to
hold any security in bearer form or in book entry, or to combine certificates representing such
securities with certificates of the same issue held by the Trustee in other fiduciary capacities, or to
deposit or arrange for the deposit of such securities in a qualified central depositary even though,
when so deposited, such securities may be merged and held in bulk in the name of the nominee of
such depositary with other securities deposited therein by another person, or to deposit or arrange
for the deposit of any securities issued by the United States Government, or any agency or
instrumentality thereof, with a Federal Reserve Bank, but the books and records of the Trustee shall
at all times show that all such securities are part of the Fund;
(d) To deposit any cash in the Fund in interest-bearing accounts maintained or savings certificates
issued by the Trustee, in its separate corporate capacity, or in any other banking institution affiliated
with the Trustee, to the extent insured by an agency of the Federal or State government; and
(e) To compromise or otherwise adjust all claims in favor of or against the Fund.
Section 9. Taxes and Expenses. All taxes of any kind that may be assessed or levied against or in
respect of the Fund and all brokerage commissions incurred by the Fund shall be paid from the
Fund. All other expenses incurred by the Trustee in connection with the administration of this Trust,
including fees for legal services rendered to the Trustee, the compensation of the Trustee to the
extent not paid directly by the Grantor, and all other proper charges and disbursements to the
Trustee shall be paid from the Fund.
Section 10. Advice of Counsel. The Trustee may from time to time consult with counsel, who may
be counsel to the Grantor, with respect to any question arising as to the construction of this
Agreement or any action to be taken hereunder. The Trustee shall be fully protected, to the extent
permitted by law, in acting upon the advice of counsel.
Section 11. Trustee Compensation. The Trustee shall be entitled to reasonable compensation for its
services as agreed upon in writing from time to time with the Grantor.
Section 12. Successor Trustee. The Trustee may resign or the Grantor may replace the Trustee, but
such resignation or replacement shall not be effective until the Grantor has appointed a successor
trustee and this successor accepts the appointment. The successor trustee shall have the same
powers and duties as those conferred upon the Trustee hereunder. Upon the successor trustee's
acceptance of the appointment; the Trustee shall assign, transfer, and pay over to the successor
trustee the funds and properties then constituting the Fund. If for any reason the Grantor cannot or
does not act in the event of the resignation of the Trustee, the Trustee may apply to a court of
competent jurisdiction for the appointment of a successor trustee or for instructions. The successor
trustee shall specify the date on which it assumes administration of the trust in a writing sent to the
Grantor, the FDEP Secretary and the present Trustee by certified mail 10 days before such change
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