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PERFORMANCE BOND FOR
<br />BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO
<br />BOND #
<br />KNOW ALL PERSONS BY THESE PRESENTS, that Journey Ventures LLC, a
<br />Limited Liability Company, organized under the laws of the State of
<br />Colorado, with its principal office located at Post Office Box 129; 450
<br />E. 16th Street; Greeley, CO 80632, hereinafter called "Principal ", and
<br />Hartford Casualty Insurance Company, hereinafter called "Surety" are
<br />held and firmly bound unto Board of County Commissioners of Weld
<br />County, Colorado, on behalf of Weld County, Colorado, hereinafter
<br />called "Obligee' in the full and penal sum of Thirty -One Thousand,
<br />Eight Hundred and no /100ths Dollars ($31,800.00), lawful money of the
<br />United States for the payment of which well and truly made, we bind
<br />ourselves, our heirs, administrators, successors and assigns, jointly
<br />and severally, firmly by these presents.
<br />WHEREAS, the above -bound Principal has obtained or is about to
<br />obtain from the Obligee a land use permit, namely Journey Ventures LLC
<br />Mineral Resource Development Facility, and pursuant to the requirements
<br />of said permit, has entered into an Improvements Agreement, dated
<br />, with Obligee, and
<br />WHEREAS, The Improvements Agreement requires Principal to obtain
<br />a performance bond in an amount equal to the total cost of the
<br />improvements for which Principal is responsible and naming Obligee as
<br />beneficiary, and
<br />WHEREAS, the value of improvements for which Principal is
<br />responsible equals Thirty -One Thousand, Eight Hundred and no /100ths
<br />Dollars, ($31,800.00),
<br />NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if
<br />Principal shall well, truly and faithfully perform its duties, and all
<br />of its undertakings, covenants, terms, and conditions as set forth in
<br />the Improvements Agreement, and if Principal shall satisfy all claims
<br />and demands set forth in said agreement, and shall fully indemnify and
<br />save harmless Obilgee from all costs and damages which it may suffer by
<br />reason of Principal's failure to perform as agreed, and shall reimburse
<br />and repay Obligee all outlay and expense which Obligee may incur in
<br />making good any default, then this obligation shall be null and void;
<br />PROVIDED FURTHER, that if Principal shall default in any of its
<br />obligations set forth in the Improvements Agreement, and thereafter
<br />fail to fully indemnify and save harmless Obilgee from all costs and
<br />damages which it may suffer by reason of said default, this obligation
<br />shall remain in full force and effect;
<br />PROVIDED FURTHER, that Surety, for value received hereby stipulates and
<br />agrees that no change, extension of time, alteration or addition to the
<br />terms of the Improvements Agreement to the work to be performed
<br />thereunder, shall in any way affect its obligations on this bond, and
<br />it does hereby waive notice of any such change, extension of time,
<br />alteration or addition to the terms of the Improvements Agreement.
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