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4. Proof of deposit of each installment must be submitted to the Division <br /> on the date of the deposit. Withdrawal of funds from this escrow account shall be <br /> made for the sole purpose of payment of invoices related to access road repair and <br /> stabilization work. Any additional withdraw of funds from this account not <br /> authorized in writing by the Board or Division constitutes non-compliance with the <br /> terms of this agreement and Board Order and authorizes the Division to <br /> immediately seek forfeiture of Wildcat's existing financial warranty at the next <br /> regularly scheduled Board meeting. In the event Wildcat fails to submit any one of <br /> the two cash escrow installments by the due date, or provide proof of deposit, the <br /> Division may immediately seek financial warranty forfeiture at the next regularly <br /> scheduled Board meeting following the missed deposit. Timely deposit of a cash <br /> escrow installment does not preclude the Division from pursuing final permit <br /> revocation and financial warranty forfeiture should Wildcat fail to comply with any <br /> outstanding corrective action as ordered by the Board or conduct activities on site <br /> that are determined to be in violation of the Act, Rules and Regulations, the Cease <br /> and Desist order, the permit, or any Board Order. <br /> 5. The Inactive Mine Reclamation Program, a unit within the Division, <br /> will be conducting site inspections and other field work at the May Day Mine site as <br /> preparation for reclamation in the event the financial warranty is forfeited. <br /> Wildcat and its associates, employees, consultants, or agents shall not impede IMP's <br /> on-site inspections and field work, including, but not limited to, obstructing IMP's <br /> ability to safely access the site on its own self-determined schedule. <br /> 6. All remaining corrective actions set forth in the December 2011 Order <br /> shall be completed prior to the end of the 2015 construction season, or earlier if <br /> possible. The Parties agree to amend, through future stipulated agreement and <br /> Board approval, the December 2011 order to include compliance deadlines related to <br /> the remaining unabated corrective actions and conditions regarding the May Day 1 <br /> portal and associated mill, the Chief Portal and drainage, the May Day 2 area <br /> drainage, and water quality monitoring. <br /> 7. On December 3, 2013 the Board ordered a civil penalty in the amount <br /> of$44,000 for failure to comply with an Order. The Parties agree to amend the civil <br /> penalty portion of the December 3, 2013 Order as follows: The Parties agree that <br /> $5,000 of the $44,000 amount shall be due and payable immediately. In the event <br /> Wildcat deposits two timely cash escrow installments and completes the access road <br /> repair and stabilization work, to the Division's satisfaction, on or before July 1, <br /> 2014, or by the extended deadline as established by the Division, the remaining <br /> $39,000 civil penalty ordered on December 3, 2013 shall be waived. In the event <br /> Wildcat fails to timely deposit any cash escrow installment or fails to adequately <br /> complete the access road repair and stabilization work by the completion deadline <br /> the $39,000 shall be immediately due and payable and, if unpaid, that amount shall <br /> be sent to state collections. <br /> 2 <br />