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-4- <br /> IV. RECITALS <br /> 101-10Or � , � �4a <br /> 1. On t Permit Number ^n was granted to <br /> LCX?,QD Pta� (existing operator)("Permittee"),pursuant to which <br /> Permittee has been conducting a mining operation in the County of L ,2- State of Colorado. <br /> 2. Pennittee wishes to assign the permit to aE� u (JCncX`Zk--Q- 6�� -?w(new <br /> operator),as Successor Operator("Successor")and Successor wislies to become Successor PehnittA under the <br /> permit. <br /> 3. Successor understands that the reclamation plan(the"Plan")required by the permit and by applicable <br /> State laws and regulations has not been completed and is willing to assume full responsibility for the completion of <br /> the Plan. <br /> V. AGREEMENTS <br /> Permittee and Successor hereby agree,for their own benefit and for the benefit of the State,such agreements to be <br /> effective i ssoo facto upon the approval by the State of the transfer of the Permit from Permittee to Successor,as <br /> follows: <br /> 1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br /> of the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br /> 2. Successor will complete the reclamation plan,and hereby assumes liability for completing such plan as to <br /> all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br /> obligations of the Permittee under the Permit which have not heretofore been performed by Permittee. <br /> 3. Successor hereby tenders to the State its attached Performance and Financial Warranties*,which are to be <br /> substituted for the Performance and Financial Warranties heretofore filed by the Permittee,effective upon the <br /> release of the latter Warranties. <br /> 4. Successor represents to the State that,to the best of its knowledge,information and belief,it is not in <br /> violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br /> conducted by it in the State of Colorado. <br /> Permittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br /> Successor as Successor Operator under the Permit,and to accept the tendered substitute Performance and Financial <br /> Warranties in place of the Warranties presently on file with the State. <br />