2016-12-02_PERMIT FILE - C1984065A

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-3- (5) The State may present for payment any Certificate of Deposit held hereunder and convert the same to cash If the Board or the Division determines that reclamation which ought to have been performed by the Principal, or its successors or assigns, remains unperformed. No other condition precedent need be fulfilled to entitle the State to receive the amount of any such certificate. However, if upon completion of such reclamation, the amounts expended for reclamation shall be less than the amount received from the Bank, the excess shall be promptly refunded to the Principal. (6) Interest on Certificates of Deposit - Check A or B below, whichever is applicable. _ A. Interest on Certificates of Deposit shall become additional surety hereunder and shall. be evidenced either by replacement certificates in the 'increased amounts or by the deposit with the Division of additional certificates representing the interest. In either event, the amount of this bond will be automatically increased from time to time by the amount of such interest. XB. Interest on Certificates of Deposit shalt not be State funds. Principal shall be entitled to receive all such interest. (7) Principal may, from time to time, withdraw a Certificate of Deposit which is Surety hereunder if and to the extent that a substitute Cbrtificate of Deposit is simultaneously deposited as Surety hereunder in the same amount as the Certificate withdrawn. (8) (a) If this bond applies to National Forest System lands, and if this bond is accepted by the United States Forest Service ( "U.S.F.S. ") as the bond required under 36 C.F.R. 252.13, then, the Principal and the Surety having requested that the State and the U.S.F.S. accept this single bond in lieu of the separate bonds which would otherwise be required by applicable law, hereby agree that, notwithstanding any other provision hereof, or of law, this bond shall remain in full force and effect until U.S.F.S. has advised the State that the reclamation work has been satisfactorily completed in accordance with the requirements of applicable Federal law and regulations. (b) If this bond applies to lands under the jurisdiction of the State Board of Land Commissioners ( "Land Board "), and if this bond, in whole or in part, is accepted by the Land Board as the bond required under its applicable law and procedures, then, the Principal and the Surety having requested that th a State accept this single bond in lieu of the separate bonds which would otherwise be required by the Colorado Mined Land Reclamation Board or Division and by the Land Board, hereby agree that, norwithstanding any other provision hereof, or of law, this bond shall remain in full force and effect until released by the Land Board. (c) If all or any part of the lands subject to this bond are under the jurisdiction of the Bureau of Land Management, United States Department of the Interior ( "the BLM "), and if, at the request of the Principal on this bond, the BLM has, pursuant to 43 C.F.R. 3809.1 -9, accepted this bond in lieu of requiring a separate reclamation bond payable to the United States, then, notwithstanding any other provision of this bond, or of law, the Principal and the Surety hereby agree that this bond shall not be released until the State is advised in writing by the BLM that all reclamation requirements of Federal law and regulations have been fulfilled as to such lands.