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| I don't think that's how these bonds work, or more specifically a payment/performance/maintenance bond works which are typically associates with these projects. A bond is backed by another 3rd party financial institution usually. So say you lease your land and someone builds a solar/wind farm and in year 2 they walk away. You call the bond. The bank gives you the specified amount to remove the system. That's it. The bond supplier gets to fight it out with the project company to settle up.
Maybe the financial mechanism you have posted is a bit different. Usually, the town/county has standard terms and conditions for a project to follow, and are named beneficiary of the bond. You as a landlord could (and should!) require your own bond or to be named on the removal bond for repair/removal/taxes, etc if they walk away in the lease.
And for the record, I have supplied many-a-bond to a municipality or government agency for a project. So I do have experience with this. | |
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