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STATE OF COLORADO <br /> • Roy Romer, Governor <br /> n x. <br /> DEPARTMENT OF NATURAL RESOURCES <br /> MINED LAND RECLAMATION DIVISION <br /> FltED R. SANT/►. Director <br /> PERFORMANCE WARRANTY <br /> Operator: Nielsons, Inc. <br /> Operation: Cortez Pit C E 11/E D <br /> Permit No: M-76-59 AUG 1 n tgaa <br /> MINED (,.AND <br /> KNOW ALL MEN BY THESE PRESENTS, THAT: RECLAMATION DIVISION <br /> WHEREAS, the Colorado Mined Land Reclamation Act, CRS as amended, <br /> 34-32-101 et she . (the "Act"), as amended, provides- that no permit may be <br /> issued under 1e Act until the Mined Land Reclamation Board (the "Board") <br /> receives a performance warranty (or warranties) that is a written promise to <br /> comply with all applicable requirements of the Act. <br /> WHEREAS, Nielsons Inc. (the "Operator"), has <br /> applied for a permTFto conduct a mining operation Known as Cortez Pit <br /> (the "Operation") on certain lands in MpntgXuma <br /> County, o ora o. These lands are described in the permit application, as <br /> amended and supplemented, and are referred to herein as the "Affected Lands". <br /> WHEREAS, in its application for the permit, the Operator has agreed <br /> to be bound by all requirements of the Act and all applicable rules and <br /> regulations of the Board, as amended from time to time. <br /> WHEREAS, the Board has determined, in accordance with the Act, that <br /> the estimated costs of reclamation with regard to those affected lands <br /> in Montezuma County which are now or may become subject to the permit <br /> are ose amounts for the stated periods of time as set forth in the financial <br /> warranty, which may be amended from time to time to reflect revised estimates <br /> of said costs of reclamation. <br /> WHEREAS, the Operator hereby gives the Board a performance warranty <br /> pursuant to Section 34-32-117(2) of the Act, and herein promises the Board <br /> that it will comply with all applicable requirements of the Act with regard to <br /> those Affected Lands. <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 /> 423 Centennial Building, 1313 Sherman Street Denver, Colorado 80203.2273 Tel. (303) 866.3567 <br />