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WHEREAS, in the application for the permit the Operator has agreed to be bound by all <br /> requirements of the Act and all applicable rules and regulations of the Board, as amended from <br /> time to time. <br /> WHEREAS, in the application for the permit, the Operator has agreed with the Board to <br /> provide for reclamation of the Affected Lands,that are now or may become subject to the permit, <br /> as required by law. <br /> WHEREAS, the Board has determined in accordance with the applicable Act that the <br /> estimated costs of reclamation of the Affected Lands are those amounts set forth herein, which <br /> may be amended from time to time to reflect revised estimates of said costs of reclamation. <br /> WHEREAS, the Board has determined that the financial warranty provided by the <br /> Warrantor, in the amount set forth herein, equals the current estimated costs of reclamation, as <br /> approved by the Board,with regard to the Affected Lands. <br /> WHEREAS,the Operator, in accordance with the Act has promised and hereby promises <br /> the Board that it will be responsible for the entire actual cost of reclamation with regard to the <br /> Affected Lands. <br /> WHEREAS, on behalf of the Operator and as proof of the Operator's financial <br /> responsibility, the Warrantor has, executed, pursuant to C.R.S. §§ 34-32-117(3)(a) or 34-32.5- <br /> 117(3)(a), a personal check, business check, cashier's check, or certified check No. /0�"l <br /> payable to the Board in the amount of wa dollars ($ 2,000 <br /> The Board has deposited the executed personal or business check, cashier's check or <br /> certified funds in the State of Colorado Treasury ("state treasury"). The above-mentioned sum is <br /> to be held as proof of the Operator's financial responsibility under this financial warranty. <br /> The Warrantor has provided to the Board proof of its authority to execute the <br /> above-mentioned check,by one of the following methods: <br /> 1. If the Warrantor is a corporation, a copy of the corporate resolution, specifying <br /> the individuals that have authority to execute checks on behalf of the corporation. <br /> 2. If the Warrantor is a partnership, a copy of the partnership resolution, specifying <br /> the individuals that have authority to execute checks on behalf of the partnership. <br /> 3. If the Warrantor is an individual or a sole proprietor, confirmation from the bank <br /> stating the individuals that have authority to execute the above-mentioned check. <br /> If the Warrantor has elected to provide a personal or business check, this financial <br /> warranty is not effective until the personal or business check has cleared the bank upon which it <br /> was drawn. <br /> -2 - <br />