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WHEREAS., the Operator hereby gives the Board this performance warranty pursuant to <br />C.R.S. §§ 34 -32- 11.7(2) or 34- 32.5 - 117(2), and herein promises the Board that it will comply <br />with all applicable requirements of the H.ardrock or Construction Materials Act. <br />NOW, THEREFORE, The Operator hereby promises Cite Board that it will comply with <br />all applicable requirements of the Hard Rock or Construction Materials Act and applicable rules <br />and regulations of the Board. <br />The Operator hereby promises the Board that it will comply with all of the terms of the <br />application for a permit, as amended and supplemented, as well as any conditions attached to the <br />Permit by the ,Board. <br />The Operator promises the Board, pursuant to C.R.S. §§ 34- 32- 112(l)(d) or <br />34-32.5- 112(1)(b)(IV), 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 f arther <br />recognizes 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, revision of the permitted mining area, or disturbance by the Operator of lands <br />outside of the permitted raining area shall alter or diminish the Operator's obligation hercunder, <br />which 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 <br />comply with the requirements of the Hardrock or Construction Materials ,Act, applicable rules <br />and regulations, and the permit, then the Board, upon a finding that the Operator has so <br />complied, shall release this performance warranty, and the Operator from its obligation <br />hereunder. The obligation of the Operator hereunder shall continue until released by the Board <br />in accordance with applicable law. <br />The Operator promises to be responsible for the cost of reclamation up to the amount <br />established by the Board and has attached hereto its financial warranty, in accordance with. <br />C.R.S. §§ 34- 32,117(3) or 34- 32.5117(3). The Operator agrees that it "I maintain a financial <br />warranty (or warranties) covering the Board's estimated costs of reclamation in goad standing <br />for the entire life of the permit. If the Operator is a unit of County or Municipal government, or <br />is a department or division. of State government, the Operator is not required to submit or post <br />any other instrument Of financial responsibility but hereby promises to be responsible for the cost <br />of reclamation up to the amount specified by the Board. <br />If the Board determines that the Operator is in default under this' performance warranty <br />and has failed to cure such default, although written notice of,such default and ample time to <br />cure such default have been given, the Operator's financial. warranty sl,.alI be subject to forfeiture. <br />This performance warranty may be executed in multiple copies, each of which shall be <br />treated as an original, but together they constitute only one agreement, the validity and <br />interpretation of which shall be governed by the laws of the State of Colorado. The provisions <br />hereof shall bind and inure to the benefit of the parties hereto and their successors and assigns, <br />-2- <br />