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-4- <br />(10) The State may make demand upon the surety for payment hereunder if the Board or the <br />Division determines, and the OSMRE concurs, that reclamation which ought to have been performed <br />pursuant to the Plan by the Principal, or its successors or assigns, remains unperformed, and if surety <br />forfeiture procedures required by law have been initiated. No other condition precedent need be <br />fulfilled to entitle the State to receive the amount so demanded. However, if, upon completion of <br />reclamation, the amounts expended for reclamation shall be less than the amount received from the <br />surety, the excess shall be promptly refunded to the surety. <br />(11) If demand is made upon the surety for payment of an amount due to the State <br />hereunder, and if the surety fails to make payment of such amount within ninety (90) days after the <br />date of receipt of such demand by the surety, and if it should thereafter be determined, by agreement <br />of the surety of by final judgement of court, that the amount demanded was properly payable, surety <br />agrees to pay to the State, in addition to the amount demanded, interest a the prime rate in effect from <br />time to time at The First National Bank of Denver for the period commencing at the end of such <br />ninety-day period and ending on the date of actual payment. <br />(12) If the State shall notify the surety that the Principal is in default and if the State shall <br />initiate any bond forfeiture procedures required by law or regulation, the surety may, in lieu of <br />making payment to the State of the amount due hereunder, cause the reclamation to be timely <br />performed in accordance with the Plan. In such event, when and if the reclamation has been timely <br />performed to the satisfaction of the Board or Division and the OSMRE, this bond shall be released. If <br />the reclamation shall not be so performed to the satisfaction of the Board or Division and the <br />OSMRE, this bond shall remain in full force and effect. <br />(13) (a) If this bond applied to National Forest System lands, and if this bond is <br />accepted by the United States Forest Service ("U.S.F.S.'") as the bond required under 36 C.F.R. <br />252.13, then the Principal and the surety, having requested that the State and the U.S.F.S. accept this <br />single bond in lieu of the separate bonds which would otherwise be required by applicable law, <br />hereby agree that, notwithstanding any other provision hereof, or of law, this bond shall remain in full <br />force and effect until U.S.F.S. has advised the State that the reclamation work has been satisfactorily <br />completed in accordance with the requirements of applicable Federal law and regulations. <br />(b) If this bond applies to land under the jurisdiction of the State Board of Land <br />Commissioners ("Land Board"), and if this bond, in whole or in part, is accepted by the hand Board <br />as the bond required under its applicable law and procedures, then the Principal and the surety, having <br />requested that the State accept this single bond in lieu of the separate bonds which would otherwise be <br />required by the Colorado Mined Land Reclamation Board or Division and by the Land Board, hereby <br />agree that, notwithstanding any other provision hereof, or of law, this bond shall remain in full force <br />and effect until released by the Land Board. <br />