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Last modified
8/19/2024 9:44:48 AM
Creation date
10/28/2021 4:12:07 PM
Metadata
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Template:
Contracts
Company Name
REPUBLIC SERVICES
Contract #
A-2021-171
Agency
Public Works
Council Approval Date
8/17/2021
Expiration Date
6/30/2032
Insurance Exp Date
6/30/2025
Destruction Year
2037
Notes
For Insurance Exp. Date see Notice of Compliance
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EXHIBIT 3 <br />CORPORATE GUARANTY <br />Guaran <br />THIS GUARANTY (the "Guaranty) is given as of the _ day of _ 2020. <br />THIS GUARANTY is made with reference to the following facts and circumstances: <br />A. <br />hereinafter ("Owner") is a <br />organized under the laws of the State of which is wholly owned by <br />. (Guarantor). <br />B. Owner and the City have negotiated an Agreement for Collection, processing, <br />and Disposal of Solid Waste dated as of (hereinafter "Agreement"). A <br />copy of this Agreement is attached hereto. <br />C. It is a requirement of the Agreement, and a condition to the City entering into the <br />Agreement, that Guarantor guaranty Owner's performance of the Agreement. <br />D. Guarantor is providing this Guaranty to induce the City to enter into the <br />Agreement. <br />NOW, THEREFORE, in consideration of the foregoing, Guarantor agrees as follows: <br />1. Guaranty of the Agreement. Guarantor hereby irrevocably and unconditionally <br />guarantees to the City the complete and timely performance, satisfaction and <br />observation by Owner of each and every term and condition of the Agreement which <br />Owner is required to perform, satisfy or observe. In the event that Owner fails to <br />perform, satisfy or observe any of the terms and conditions of the Agreement, <br />Guarantor will promptly and fully perform, satisfy or observe them in the place of the <br />Owner or cause them to be performed, satisfied or observed. Guarantor hereby <br />guarantees payment to the City of any damages, costs or expenses which might become <br />recoverable by the City from Owner due to its breach of the Agreement. <br />2. Guarantor's Obligations Are Absolute. The obligations of the Guarantor <br />hereunder are direct, immediate, absolute, continuing, unconditional and unlimited, <br />and with respect to any payment obligation of Owner under the Agreement, shall <br />constitute a guarantee of payment and not of collection, and are not conditional upon <br />August 17, 2021 3-1 City of Santa Ana <br />
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