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Decommissioning Plan I Rev.0 <br />5) Financial Assurance: <br />The local permitting government may require assurance that funds will be there for the necessary <br />decommissioning work when the project reaches the end of its purposeful life, been condemned, or has been <br />abandoned. A "financial assurance level" of 20% of total project decommissioning costs can be established by <br />year 10 with increases over time until it reaches 100% for year 25 of operation. Assurance can be achieved via <br />Letter of Credit or cash set aside in an escrow account controlled by a third -party insurance company. The <br />financial assurance is recommended to be in the amount of; $30,000.00 (per net costs after salvage value of <br />equipment and costs for decommissioning). <br />Upon successful decommissioning, the local permitting government is expected to release the cash escrow, <br />letter of creditor bond within 30 days of a request. Partial release(s) commensurate with the decommissioning <br />completed as of the date of the request is requested. <br />M <br />