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EXHIBIT L <br /> NOW, THEREFORE, the Operator hereby promises the Board that it will <br /> comply with all applicable requirements of the Act and rules and regulations <br /> of the Board with respect to the Affected Lands. <br /> FURTHER, the Operator hereby promises the Board that it will comply <br /> with all of the terms of the application for a permit, as amended and <br /> supplemented. as well as any conditions attached to the permit by the Board. <br /> Further, the Operator promises the Board, pursuant to 34-32-112(1)(d) <br /> of the Act, that it has the lawful authority to enter upon the Affected Lands <br /> to conduct mining operations, including, but not limited to, reclamation.. The <br /> Operator further recognizes the right of the Board to enter to reclaim lands <br /> affected by the operation. <br /> The description of lands herein is for convenience of reference only, <br /> and no error in such description, nor any revision of the permitted mining <br /> area, nor the disturbance by the warrantor of lands outside of the permitted <br /> 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 <br /> Operator shall successfully comply with the requirements of the Act. <br /> applicable rules and regulations. and the permit, then the Board, upon a <br /> finding that the Operator has so complied, shall release this performance <br /> warranty, and the Operator from its obligation hereunder, to the extent that <br /> the Board determines that such compliance has been accomplished. The <br /> obligation of the Operator hereunder shall continue until released in whole or <br /> in part by the Board in accordance with applicable law. <br /> In further satisfaction of the requirements of the Act. the Operator <br /> has attached hereto its financial warranty. which may be amended from time to <br /> time. The Operator agrees that it will maintain a financial warranty (or <br /> warranties) for the estimated costs of reclamation in good standing for the <br /> entire life of the permit. <br /> If the Board determines that the Operator is in default under this <br /> performance warranty and has failed to cure such default, although written <br /> notice of such default and ample time to cure such default have been given, <br /> the Operator's financial warranty shall be subject to forfeiture. <br /> This performance warranty may be executed in multiple copies, each of <br /> which shall be treated as an original, but together they constitute only one <br /> agreement, the validity and interpretation of which shall be governed by the <br /> laws of the State of Colorado. <br />