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WHEREAS,the Operator hereby gives the Board a performance warranty pursuant to Section <br /> 34-32-117(2)or Section 34-32.5-117(2) of the Act, and herein promises the Board that it will comply <br /> with all applicable requirements of the Act with regard to those Affected Lands. <br /> NOW, THEREFORE, the Operator hereby promises the Board that it will comply with all <br /> applicable requirements of the Act and rules and regulations of the Board with respect to the Affected <br /> Lands. <br /> FURTHER, the Operator hereby promises the Board that it will comply with all of the terms of <br /> the application for a permit, as amended and supplemented, as well as any conditions attached to the <br /> permit by the Board. <br /> FURTHER, the Operator promises the Board, pursuant to 34-32-112(2)(d) or <br /> 34-32.5-112(1)(c)(iv) of the Act, that it has the lawful authority to enter upon the Affected Lands to <br /> conduct mining operations, including, but not limited to, reclamation. The Operator further recognizes <br /> the right of the Board to enter to reclaim lands affected by the operation. <br /> The description of lands herein is for convenience of reference only, and no error in such <br /> description, nor any revision of the permitted mining area, nor the disturbance by the Warrantor of lands <br /> outside of the permitted mining area shall alter or diminish the Operator's obligation hereunder, which <br /> shall extend to the reclamation of all such lands disturbed. <br /> The obligation of the Operator hereunder is such that, if the Operator shall successfully comply <br /> with the requirements of the Act, applicable rules and regulations, and the permit, then the Board, upon a <br /> finding that the Operator has so complied, shall release this performance warranty, and the Operator from <br /> its obligation hereunder, to the extent that the Board determines that such compliance has been <br /> accomplished. The obligation of the Operator hereunder shall continue until released in whole or in part <br /> by the Board in accordance with applicable law. <br /> In further satisfaction of the requirements of the Act, the Operator promises to be responsible for <br /> the cost of reclamation up to the amount established by the Board and has attached hereto its financial <br /> warranty, which may be amended from time to time. The Operator agrees that it will maintain a financial <br /> warranty (or warranties) for the estimated costs of reclamation in good standing for the entire life of the <br /> permit. Please note that under the provisions of the Colorado Mined Land Reclamation Act and the <br /> Colorado Land Reclamation Act for the Extraction of Construction Materials, any Applicant or Operator <br /> that submits proof, acceptable to the Board or Division of Reclamation, Mining and Safety, that an <br /> Applicant or Operator is a unit of County or Municipal government, or is a department or division of <br /> State government, the Applicant or Operator is not required to submit or post any other instrument of <br /> financial responsibility but hereby promises to be responsible for the cost of reclamation up to the amount <br /> specified by the Board. <br /> If the Board determines that the Operator is in default under this performance warranty and has <br /> failed to cure such default, although written notice of such default and ample time to cure such default <br /> have been given,the Operator's financial warranty shall be subject to forfeiture. <br /> This performance warranty may be executed in multiple copies, each of which shall be treated as <br /> an original, but together they constitute only one agreement, the validity and interpretation of which shall <br /> be governed by the laws of the State of Colorado. <br />