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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
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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.