ML20127J716
| ML20127J716 | |
| Person / Time | |
|---|---|
| Site: | 07003073 |
| Issue date: | 01/14/1993 |
| From: | Hix C KERR-MCGEE CORP. |
| To: | Fauver D NRC |
| References | |
| NUDOCS 9301250236 | |
| Download: ML20127J716 (20) | |
Text
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& KERRMcGEECORPORATION
.t an w,e cres. ona e a cat oua oua mn
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January 14, 1993 EXPRESS MAIL hr. Dave Fauver
- c/S 5-E-2 U.S. Nuclear Regulatory Commission one White Flint 12'45 Rockville Pikt R - ville, Maryland 20852 RE: Kerr-McGee Corporation License No. SNM-1999 Financial Assurance Cushing, Oklahoma Facility l
Dear Mr. Fauver:
At tached is our Surety Bond #2971100-25S9 and the Stand-By Trust Fund conoprising the financial assurance documents approved by NRC for use in meeting the financial requirements of Title 10, Part 70 of the Code of Federal Regulations.
Attachments include a completed APPENDIX C checklist.
In addition to the above mentioned attachments, I am also attaching the surety's form " Notice'of Bond Cancellation" to be executed by the Nuclear Regulator';j Commission and returned to us us soon-as Possible, alona with surety bond #2971100-2590.
The surety bond
(#2971100-2590) shown in the Notice of Bond cancellation is being replaced by the attacwd surety-bond
- 2971100-2599 dated January AL, 1993.
It is imperative that NRC 3Xocute_ tl.t. attached Safeco "Notico of Bond Cancellation" immediately upon receipt of Safeco's Bond
- 2971100-2599 (Attached).
Bond #2971100-2590 must be returned to us along with the executed cancellation notice.
~
T trust the attached financial instruments wl r h found in o) der, aowever, if we need to discuss _please call.me n (405) 270-3138.'
)
Very truly yours, h htY arlotte D. Hix, yd fd -
Coordinator, RISK' MANAGEMENT & CLAIMS DEPARTMENT cc: John Stauter W/ Attachments C.
L. Frates & Co. W/0 Attachments Stacy Roberts W/0 Attachments
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9301250236 930114 di I!
(DR ADOCK 07003073 i'
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SAFt 'O INSURANCE COMP ANY OF AMERICA A
NOTICE OF BOND cinnit issvRAwee Couriwy OF Auerica CANCELLATION F'*51 Natio*AL '*8v" ANct co'" ANY OF 'ut'ic^
SAFECO @
y,MUc$!$5,ot^l,'m CC:
KERR-MCGEE CORPORATION C L FRATES & CO.,
INC 32-0435 (OBLCEE'S (W.1E/ADCRESS)
TO.
U.S. NUCLEAR REGULATORY COMMISSION CUSHING FACILITY CUSHING OK 00000 You are hereby notified that SAFECO INSURANCE COMPANY OF AMERICA Surety upon Type of Bond: F I NANCI Al GUARANTEE BOND Bond No. 2971100-2590
/ l etfective 09/01/1992 (MCNTH. DAY. YEAR) on behalf of (PANCIPAL*S NAME/ADORESS)
KERR-MCGFE CORPORATION KERR MCGEE CENTER OKLAHOMA CITY OK 00000 desires to cancel and does hereby cancel said bond in accordance with the cancellation provisions contained therein or in applicable laws or regulations. This notice is mailed to you on January 11, 1993 (MCNTH. DAY YEAR) and is effective January 11, 1993 SAFECO INSURANCE COMPANY OF AMERICA JM O'
By:
/
Georgia / Nelson (AT TOFNEY-N-FACT)
Cancellation Acknowledged:(PLEASE SIGN AND RETURN THE DUPLICATE OF THIS NOTICE) 4-U.S. NUCLEAR REGULATORY C0504ISSION O
/ Dy:
Dated:
041CNTH. DAY, YEAR)
CANCEL REASON: CANCELLED AT REQUEST OF AGENT - REPLACED BY BOND #2599
@9 egis. orad traoemark of SAFECO Corporebon, i
PRINTED IN U.S.A.
j 3.q gege 3/g0 i
i
1
"* m m
50 POSTAGE NECESSARY
'i IF MAILED IN THE w een r L'NITED STATES BUSINESS EPLY IL m
t IRsl Ct A%
P1 RMil %O $620 OAL AHOM A Cli). OK Fas t A(.L w tL L hl PAID B) ADDREME L KERR McGEE CORPORATION
~ ~ ~ ~ ~ ~ * * '
T-1106 POST OFFICE BOX 25861 OKLAHOMA CITY, OK 73125-9968 4
ATTN: Charlotte liix h
i KERR-McCEE CORPORATION Lic. # SNM-1999
-APPENDIX C CHECKLIST FOR SUBMISSION OF SURETY / INSURANCE / PARENT COMPANY GUARANTEE A.
Check Appropriate Form of Surety / Insurance / Guarantee v Surety Bond Letter of Credit Line of Credit Parent Company Guarantee / Financial Te.st*
Insurance B.
Check Documents Submitted for Surety / Insurance / Guarantee 1.
Surety Bond
/ Surety Bond g Standby Trust Agreement g Acknowledgement 2.
Letter of Credit Letter of Credit Standby Trust Agreement Acknowledgement 3.
Line of Credit Verification standby Trust Agreement i Acknowledgement 4.
Parent Company Guarantee letter from Chief Executive Officer of Applicant or Licensee Letter from Chief Financial Officer of Perent Company Financial Test:
Alternative [I or II)
Auditor's Special Report and Attached Schedule Corporate Guarantee Standby Trust Agreement Acknowledgement 5.
Insurance Certificate of Insurance Standby Trust Agreement Acknowledgement
- May not be used in combination with any other instrument.
C-1
PAYMENT SURETY BOND Date bond executed:
January 11, 1993 Effective date:
January 11. 1991 Principal:
Kerr-McGee Corooration Kerr-McGee Center Oklahoma City, Oklahoma Type of organization:
Corocration State of Incorporation:
Qslaware NRC License Number:
SNM-1999 Name and Address of Facility:
Cushina Facility Cushina, Oklahoma Amount (s) for decommissioning activity guaranteed by this bond; $2,168,000 i
Surety (ies):
Spfeco Insurance Company of America Safeco Plaza Feattle, Washincton Type of organization:
Corcoratiqn State of Incorporation:
Washincton Licensed and qualified surety in the State of Oklahoma.
Surety's bond number:
2971100-2599 Total penal sum of bond: $2,168,000 Know all persons by these presents, That we, the Principal and Surety (les) hereto, are firmly bound to the U.S. Nuclear Regulatory j
Commission (hereinaf ter called NRC), in the above penal sum for the payment of which we bind ourselves, our heirs, _ e x e c u t o r s,_-
administrators, successors, and assigns jointly and severally; provided that, where the sureties are corporations acting as co-l sureties, we, the sureties, bind ourselves in such sum " jointly and l
severally" only for the purpose of allowing a joint action or actions against any or all of us, and for all other purposes.each Surety binds itself, jointly and severally with the Principal,_for the payment of_such sum only as is set forth opposite the name of such Surety; but if no limit of liability is indicated, the limit
.of liability shall be the full amount of the penal sum.
I
6 1
/
WHEREAS, the U.S.
Nuclear Regulatory Commission, an agency of the
[
U.S.
Government, pursuant to the Atomic Energy Act of 1954, as amended, and the Energy Reorganization Act of 1974, has promulgated regulations in Title 10, Chapter I of the code of Federal Regulations, Part 70, applicable to the Principal, which require that a license holder or an applicant for a facility license provide financial assurance that funds will be available when needed for facility decommissioning; NOW, THEREFORE, the conditions of the obligation are such that if the Principal shall faithfully, before the beginning of decommissioning of each facility identified above, fund the standby trust fund in the amount (s) identified above for the facility; or, if the Principal shall fund the standoy trust fund in such amount (s) after an order to begin facility decommissioning is icsued by the NRC or a U.S.
District Court or other court of competent jurisdiction; Or, if the Principal shall provide alternative financial assurance and obtain the written approval of the NRC of such assurance, within 30-days after the date a notice of cancellation from the Surety (ies) is received by both the Principal and the NRC, than this obligation shall be null and void; otherwise it is to remain in full force and effect.
The surety (ies) shall become liable on this bond obligation only when the Principal has failed to fulfill the conditions described above.
Upon notification by the NRC that the Principal has failed to perform as guaranteed by this bond, the Surety (ies) shall place-funds in the amount guaranteed for the facility (ies) into the standby trust fund.
The liability of the surety (les) shall not be discharged by any payment or succession of payments hereunder, unless and until such payment or payments shall amount in the aggregate to the penal sum of the bond, but in no event shall-the obligation of the Surety (ies) hereunder exceed the amount of said penal sum.
The surety (ies) may cancel the bond by sending notice of cancellation by certified mail to the Principal and to the NRC provided, however, that cancellation shall not occur during the 90 days beginning on the date of receipt of the notice of cancellation by both the Principal and the NRC, as evidenced by the return receipts.
The Principal may terminate this bond by sending written notice to the liRQ and to Surety (ies) 90 days prior to the proposed date of termination, provided, however, that no such notice shall become effective until the Surety (ies) receive (s) written authorization for termination of the bond from the NRC.
/
The Principal and Surety (ies) hereby agree to adjust the penal sum of the bond yearly so that it guarantees a new amount, provided that the penal sum does not increase by more than 20 percent in any one year, and no decrease in the penal sum takes p] ace without the written permission of the NRC.
If any part of this agreement is invalid, it shall not affect the remaining provisions which will remain valid and enforceable.
In Witness Whereof, the Principal and Surety (ies) have executed thic financial guarantee bond and have affixed their seals on the date set forth above.
The persons whose signatures appear below hereby certify that they are authorized to execute this surety bond on behalf of the Principal and Surety (ies)
PRINCIPAL Kerg-McGee Co poration had
- r~1 If(d.' fiorner, Jr/;IV.P.
(Corporate Seal]
CORPORATE SURETY Safeco Insurance Company of America Saf ;co Plaza Seattle, Washington 98185 State of Incorporation:
Washington bility Limit:
$58,606,000 WM Ah Dennis Bowman, Attorney-in-Fact (Corporate Seal)
(For every co-surety, provide signature (s), corporate seal, and other information in the same manner as for Surety (ies) above.]
Bond Premium:
$5,962.00 t
gp SApsco INsVRAhes cow 8ANY o8 AutRSCA e
Of ATTORNEY osNsRAL INSuRANet cQh8ANY of AMs%i MOMS CHICS sAFsco PLAZA j
e ss Ants, wAsmotow saias 1
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5983
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g gy THESg PRgSENTS l
p 3AFYCO fNSURANCE COMPANY OF AMERICA and GENERAL IfwSURANCE COMPANY OF AMERICA, each a Washing he,on, does each hereby mooornt FRATEF.;
R-C.
HASKEL; KA THY WILKINS: KAY F.
LOVETT W.
T.
er L MILLER; ROOMAN A.
OfNA BURTON. DENNIS BOWMAN, Oklahoma City. O k l a h om e * * * * * * ' ' ' ' a = = = = * * = = = =......,....... C A R T E R ;
tes true and lawful attorney (s)-in-fact, with full authority to exocta:
documents of a samstr character issued in the course of its bw. ness. and to band the respective company IN WITNESS WHEREOF, SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA executed and ettested these presents this 4th
_ d,y of January
, 19 93.
CERTIFICATE Extract from the By-Laws of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA:
- Arbele V, Section 13. - FlOELfTY AND SURETY BONDS., the President, any Vice President, the Secretary, and any Assistant Vice President appointed for that purpose by the of ficer in charge of surety operations, shall each have authority to aopoint individuals as attorneys-in-f act or under other appropriate titles with authority to execute on behaf f of the company fidelity and surety bonds and other CoCuments of similar Character issued by the Company in the Course of its business On any instrument making or evidencing such oppointment, the signatures may be ef fixed by f acsimile. On any instrument conf erring such authority or on any bond or undertaking of the company, the seal. or a f acsimile thereof, may be impressed or af fixed or in any other manner reproduced; provided however, that the seal shan not be necessary to the vahdity of any such instrument or undertaking
- Extract from a Resolution of the Board of Directors of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA adopted July 28, 1970.
"On any certificate executed by the Secretary or an assistant secretary of the Company setting out.
(d The provisions of Article V. Section 13 of the By-Laws, and hi) A copy of the power-of-attorney appointment, executed pursuant thereto. and bid Certif ying that said power-of-attorney appointment is en full f orce ind ef fect.
the Signature of the certif ying of ficer may be by f acsimile, and the seat of the Company may be a f acsimile thereof *
- 3. A A P erson. Secretary of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE COMPANY OF AMERICA, i
do hereev certsf y that the foregoing extracts of the By-Laws and of a Resciution of the Board of Directors of these corporations and of a Power of Attorney #ssued pursuant thereto, are true and correct, and that both the By-Laws, the Aesolution and the Power of Attorney are stdl in full force and ef fect IN WITNESS WHEREOF, I beve hereunto cet my hand and ef fixed the f acsimile seat of said corporation this 11th day of January
, 39 93 s emP tiss
@ n.,..,.a e,....,a of s Artco corporation.
ORIGINALLY SIGNED Dt'PLICATE STANDBY TRUST AGREEMENT TRUST AGREEMENT, the Agreement entered into as of January 11, 1993 by and between Kerr-McGee Corporation, a - Delaware Corporation, herein referred to as the " Grantor", and Lit 23rty National Bank &
Trust Company, 100 N.
Broadway, OklahomJ City, OK 73102
,-the
" Trustee".
WHEREAS, the U.S. Nuclear Regulatory Commission (NRC), an agency of the U.S. Government, pursuant to the Atomic Energy Act of 1954, as amended, and the Energy Reorganization Act of 1974, has promulgated regulations in Title 10, Chapter I
of the Code of Federal Regulations, Part 70.
These regulations, applicable to the Grantor, require that a holder of, or an applicant for, a Part 30, 40, 70, or 72 license provide assurance that funds will be available when needed for required decommissioning activities.
WHEREAS, the Grantor has elected to use a surety bond to provide all of such financial assurance for the facilities identified herein; and WHEREAS, when payment is made under a surety bond, this standby trust shall be used for the receipt of such payment; and WHEREAS, the Grantor, acting through its duly authorized of ficers, 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:
l l
Section 1.
Definitions.
As used in this Agreement:
(a)
The term " Grantor" means the NRC licensee who enters into this Agreement and any successors or assigns of the Grantor.
l (b)
The term " Trustee" means the trustee who enters into this l
Agreement and any successor Trustee.
l l
Section 2.
Co_sts of Decommissioninc.
This Agreement' pertains to t
the costs of decommissioning the materials and activities j
identified in License Number SNM 1999 issued pursuant to 10 CFR I
Part 70-as shown in Schedule A.
l l'
Section 3.
Establishment of Fund.
The Grantor and the Trustee hereby establish a standby trust fund (the Fund) for the benefit of i
the NRC.
The Grantor and the Trustee intend that no third party have access to the Fund except as provided herein.
-. ~ _
~. -. - -. - - - - -. --.
eb 4.3.2 Standby Trust Acreement (Continued)
Section__4.
Pavmants Constitutina the rund.
Payments made to the Trustee for the Fund shall consist of cash, securities, or other liquid assets acceptable to the Trustee.
The Fund is established initially as consisting of the property, which is acceptable to the Trustee, described in Schedule B attached hereto.
Such property and any other property subsequently transferred to the Trustee are 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 of, or adequacy of the Fund, nor any duty to collect from the Grantor, any payments necessary to discharge any liabilities of the Grantor established by the NRC.
Section 5.
Eaypent _f.or Recuired 6.qtivities Snecified in the Plan.
The Trustee shall make payments from the Fund to the Grantor upon presentation to the Trustee of the following:
a.
A certificate duly executed by the Secretary of the Depositor attesting to the occurrence of the events, and in the form set forth in the attached Specimen Certificate, and b.
A certificate attesting to the following conditions; (1) that decommissioning is proceeding pursuant to an NRC-approved plan, (2) that the funds withdrawn will be expended for activities-undertaken pursuant to that Plan, and.
(3)-
that the NRC has been given 30 days' prior notice of Kerr-McGee Corporation's intent to withdraw funds from the escrow fund.
No _ withdrawal from the fund can exceed ten percent o f.
the outstanding balance of the fund unless NRC written approval is attached.
In the event of the Grantor's default or inability to direct decommissioning activities, the Trustee shall make payments from the Fund as the NRC shall direct, in writing, to provide for the payment of the costs of required activities covered by this Agreement.
The Trustee shall reimburse the Grantor or other persons as specified by the NRC, or State agency, from the Fund for expenditures for required activities in such amounts as the NRC, or State agency, shall direct in writing.
In addition, the Trustee shall refund to the Granter such amounts as the NRC specifies in writing.
Upon refund, such fundu shall no longer constitute part of the Fund as defined herein.
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4.3.2 Etand by Trust Acreement (Continued)
Section 6.
TrXst Manacement.
The Trustee shall invest and reinvest the principal and income of the Fund and keep the Fund invested as a single fund, without distinction between principal i
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 its duties with respect to the 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 like capacity and familiar with such matters, would use in the a
conduct of an enterprise of a like character and with like aims; eycept that:
(a)
Securities or other obligations of the Grantor, or-any other owner or operator of the facilities, or any of their af filiates 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; (b)
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 government; and in obligations of the Federal Government such as GINA, FNMA, and FHLM bonds and certificates or State and Municipal bonds rated BBB or higher by Standard and Poors or Baa or higher by Moody's Invest Services; and (c)
For a reasonable time, not to exceed 60 days, the Trustee is authorized to hold uninvested
- cash, awaiting investment or distribution, without liability for the payment of interest thereon.
l-Section 7 Comminalino and Investmant.
The Trustee is expressly authorized in this discretion:
(a)
To transfer from time to time any or all of the assets of J
the fund to any common, commingled, or collective trust l
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 intestment company registered under the Investment Company Act of 194 0 (15 U. S. C. 80a-1 et seg.i, including one that 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.
1 i
4.3.2 Standby Trust Actgement (Continuedl, Section L.
Express Powers of Trustee.
Without in any way limiting the powers and_ discretion 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, as necessary to allow duly authorized withdrawals at _ the joint request of the Grantor and the NRC or to reinvest in securities at the directions of the Grantor; (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, to reinv6st interest payments and funds from matured and redeemed instruments, to file proper forms concerning securities held in the Fund in a; timely fashion with appropriate gnvernment agencies, or.
to deposit or arrange for the dept. sit of such securities in a qualified central depository even though,.when so deposited, such securities may bu merged and held in bulk in the name of the nominee or such depository with other securities deposited therein by another person, or to deposit or arrange for the deposit of any securities issued by the U.S.
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 af filiated with the Trustee, to the extent insured by an agency of the Federal government; and (e)
To compromise or otherwise adjust all claims Jin favor of ~
or against the Fund.
Section 9.
Taxes and Excenses.
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
4.3.2 Standby Trust Agreement; (Continued 1 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 of the Trustee shall be paid f rom the Fund.
Section 10.
bnnua1 Valugtion.
After payment has been made into this standby trust fund, the Trustee shall annually, at least days before the anniversary date of receipt of payment into the standby trust fund, furnish to the Grantor and to the NRC a statement confirming the value of the Trust.
Any securities in the Fund shall be valued at market value as of no more than 60 days before the anniversary date of the establishment of the Fund.
The failure of the Grantor to object in writing to the Trustee within 90 days after the statement has been furnished to the Grantor and the NRC, or State agency, shall constitute a conclusively binding assent by the Grantor, barring the Grantor f rom asserting any claim or liability against the Trustee with respect to the matters disclosed in the statement.
Spction lb. bdvice of Counse h The Trustee may from time to time consult with counsel 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 on the advice of counsel.
Section 12.
Trustee Compensation.
The Trustee shall be entitled to reasonable compensation for its services as agreed upon in writing with the Grantor.
~
S_ection 13.
Successor Trustee.
Upon 90 days notice to the NRC, the Trustee may resign; upon 90 days notice to the NRC and the Trustee, 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, tranfer, 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 NRC or State agency, and the present Trustee by certified mail 10 days before such change becomes effective.
Any expense incurred by the Trustee as a result of any of the acts contemplated by this section shall be paid as provided in Section 9.
Section 14.
Instructions to the Trustee.
All orders, requests, and instructions by the Grantor to the Trustee shall be in writing,
- - ~ _ -. - _ - -
4.3.2 Standby Trust Acreement (Continued) signed by such persons as are signatories to this agreement or such designees as the Grantor may designate in writing.
~The other Trustee shall be fully protected in acting without inquiry in accordance with the Grantor's orders, requests, and' instructions.
If the NRC or State agency issues orders, requests, or instructions to the Trustee these shall be in writing, signed by the NRC, or State agency, or their designees, and the Trustee shall-act and shall be fully protected in acting in accordance with such orders, requests, and instructions.
The Trustee shall have the right to assume, in the absence of written notice to the contrary, that no event constituting a change or a termination of the authority of any person to act on behalf of the Grantor, the NRC, or State agency, hereunder has occurred.
The Trustee shall have no duty to act in the absence of such orders, requests, and instruction from the Grantor and/or the NRC, or State agency, except as provided herein.
Section 15.
Amendment of Agreement.
This agreement may be amended by an instrument in writing executed by the Grantor,-the Trustee and the NRC, or State agency, or by the Trustee and the NRC or State agency, if the Grantor ceases to exist.
Section 16.
Irrevocability and Termination.
Subject to the right of the parties to amend this Agreement as provided in Section_15, this truct shall be irrevocable and shall continue until terminated at the written agreement of the Grantor, the Trustee, and the NRC or State agency, or by the Trustee and the NRC or State agency, if the Grantor ceases to exist.
Upon termination of O e trust, all 4
remaining trust property, less final trust administration expenses, shall be delivered to the Grantor or its successor.
Section 17.
Immunity and Indemnification.
The Trustee shall not incur personal liability of any nature in connection with any act or omission, made in good faith, in the administration of this trust, or in carrying out any directions by the Grantor, the NRC, or State agency, issued in accordance with this Agreement.
The
~
Trustee shall be indemnified and saved harmless by the Grantor or from the trust fund, or both, from and against any personal liability to which the Trustee may be subjected by reason of any act or conduct ~in its official capacity, including all expenses reasonably-incurred in its defense in the event the Grantor fails to provide such defense.
3 Section 18_.
This Agreement shall be administered, construed, and enforced according to the laws of the State of Oklahoma.
i Section 19.
Intercretation and Severability.
As used in this Agreement, words in the singular include the plural and words'in the plural include the singular. The descriptive headings for each section of this Agreement shall not affect the interpretation or the legal efficacy of this Agreement.
If any part of this Agreement is invalid, it shall not af fect the remaining provisions
. - - =
. - _ ~
4.3.2 S.tandbv Trust Acreement (Continued)-
which will remain valid and enforceable.
IN WITNESS WHEREOF the parties have caused this Agreement to be executed by - the respective officers duly authorized and-the incorporate seals to be hereunto aft.xed and attested as of the date first written above.
ATTEST:
KERR M EE CORPO TION 7
/AVU h
Signatu6/ Don Hager AssellG.'. Horner,gr.
Assistant Secretarv Vice President & General Council Title Title ATTESTp e
LIBERTY NATIONAL BANK AND TRUST COMPMP!
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Signature
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Title Title l=
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1348d/91-0802 CERTIFICATE OF-AUTHORITY I,
. Don
- Hager, the undersigned, hereby certify that I am the duly elected, qualified and acting Assistant Fecretary of Kerr-McGee Corporation, a Delaware corporation, and that in the absence of the Secretery,.I maintain the corporate records and corporate seal of said Corporation.
I further certify that Russell G.
Horner, Jr. is a duly elected and qualified Vice President of the Corporation.
I further certify that Article XIII of the bylaws of the Corporation reads as follows:
ARTICLE XTII VICE PRESIDENTS "Section 1.
There may be one or more Executive Vice Presidents, one or more Senior Vice Presidents, and such other Vice Presidents, with or without other such s pec ial designations, as may be elected by the Board of Directors from time to time.
Section 2.
The Executive Vice Presidents and each of the Vice Presidents shall have the power and authority to sign certificates of
- stock, bonds, mortgages and other contracts, and perform such duties and exercise such powers as the Chairman of the Board shall prescribe.
Instruments executed in the name of, or on behalf of, the Corporation by any Vice President in conformity with his l
said duties and powers shall be as valid as if executed by the Chairman of the Board."
IN WITNESS
- WHEREOF, I
have hereunto set ~ m hand and affixed the seal of said Corporation this
/
day of Dirntnes.s 199 %.
9
-[
./
Ddn Hager" //
Assistant Secretary Kerr-McGee Corporation
/
Subscribed an sworn to before me this-
- //b
. day of
( _ duttt<
, - 19 j'
- bi l : b lM @
Notary Public My Commission Expires:
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ACKNOWLEDGEMENT (RE:
Standby Trust Agreement)
STATE OF Oklahoma County of Ok!ahoma CITY OF OKLAHOMA CITY On this
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day of
" u &m [993 before me, a notary pub}ic in and for the city and Sta e aforesaid, personally appeared 4hr M Arocun and she did pepose and,b,Esay that she he is'the
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v1 C/G c. NA national banking associatic'n,
- Trustee, which executed the above instrument. that she/he knows the seal of said essociation; that the seal affixed to such instrument is such corporate scal; that it was so affixed by order of the association; and that she/he signed her/his name thereto by like order.
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L LCNCu Signature of Notary Public I)I9h3 My Commissicn Expires:
Certificate of Events Liberty Bank & Trust Co.
Oklahoma City, OK Attention:
Trust Division Gentle'nen:
In accordance with the terms of the Agreement with you dated I,
Secretary of Kerr-McGee Corporation hereby certify that the following events have occurred:
1.
Kerr-McGee Corporation is required to commence the decommissioning of its facility located at Cushing, Oklahoma (hereinafter called the decommissioning).
2.
The plans and procedures for the commencement and conduct of the decommissioning have been approved by the United States Nuclear Regulatory Commission, or its successor, on (copy of approval attached).
3.
The Board of Directors of Kerr-McGee Corporation has adopted' the attached resolution authorizing the commencement of the decommissioning.
Kerr-McGee Corporation Secretary of Kerr-McGee Coration Date I
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TRUST AGREEMENT SCHEDULE l
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SCHEDULE A This Agreement demonstrates financial assurance for the' following cost estimates for the following licensed activities:
U.S.
NUCLEAR NAME AND REGULATORY ADDRESS ADDRESS-OF COST ESTIMATES FOR REGULATORY COMMISSION OF LICENSED ASSURANCES DEMONSTRATED BY LICENSE NUMBER LICENSEE ACTIVITY THIS AGREEMENT SNM-1999 Kerr-McGee Corp. Cushing ^, OK-P. O.
Box 25861
$2,168,000 Oklahoma City, OK 73125 The cost estimates listed here were last adjusted and approved by the NRC'on Pending receipt of Fornal Approval.
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s TRUST AGREEMENT SCHEDULE SCHEDULE B AMOUNT $100.00.
AS EVIDENCED BY Bank Accotmt Trans fer SCHEDULE _C tihnrev ma r i nn,1 n
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Trustee's fees shall be $ 2sn.nn. Annuall !
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