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of a default of Society to well and truly perform the construction, pursuant

to the approved plans and specifications therefor, -and to pay claimants, as

herein defined, in the event of a default of Society to pay or cause' to be

paid, all claims for labor, materials, appliances, teams, or power, _ or

either or all, perfonned, furnished or contributed in connection with said

works of improvement, provided corporate sure_ty bonds cannot be obtained;

the suretyship obligation is in writing; the liability as surety and/or

guarantor of said principal obligation is commensurate with Society, becomes

-absolute upon breach and can be exonerated only by performance or payment;

and the sufficiency of the individuals to discharge their liability thereon

is Justified to the satisfaction of said officer.

-7 .04 Society shall have the option to deposit with the County cash

or United States Government securities in all respe:cts satisfactory to said

officer in lieu of the surety obligations herein required. Said cash or

securities shall be deemed deposited with County to secure.full and satis-

factory.perfonnance of the principal obligations heretofore described for

which surety is required and shall be re_leased upon satisfactory pe'rformance

thereof, as evidenced by certification of compliance by Director and release

of mechanic's liens by all persons furnishing labor and materials thereon.

8. OPERATING RESPONSIBILITIES

· 8.01 Compliance with Law
. -
Society shall conform to and abide by all municipal and

County ordinances, and all State and Federal laws and_regulations, insofar
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as_ the same or any of them are applicable; and where permits and/or licenses

are required for the operation and/or any construction authorized herein,

the same must be first obtained from the regulatory agency having juris-

diction thereover.