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NOW, THEREFORE, the Operator hereby promises the Board that it will comply with all applicable <br /> requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. <br /> FURTHER, the Operator hereby promises the Board that it will comply with all of the terms of the <br /> application for a permit, as amended and supplemented, as well as any conditions attached to the permit by <br /> the Board. <br /> FURTHER, the Operator promises the Board, pursuant to 34-32-112(2)(d)or 34-32.5-112(1)(cxiv) <br /> of the Act, that it has the lawful authority to enter upon the Affected Lands to conduct mining operations, <br /> including, but not limited to, reclamation. The Operator further recognizes the right of the Board to enter <br /> to reclaim lands affected by the operation. <br /> The description of lands herein is for convenience of reference only, and no error in suchtdescription, <br /> nor any revision of the permitted mining area, nor the disturbance by the Warrantor of lands ottside of the <br /> permitted mining area shall alter or diminish the Operator's obligation hereunder,which shall extend to the <br /> reclamation of all such lands disturbed. <br /> The obligation of the Operator hereunder is such that,if the Operator shall successfully comply with <br /> the requirements of the Act,applicable rules and regulations, and the permit,then the Board,upon a finding <br /> that the Operator has so complied, shall release this performance warranty, and the Operator from its <br /> obligation hereunder,to the extent that the Board determines that such compliance has been accomplished. <br /> The obligation of the Operator hereunder shall continue until released in whole or in part by the Board in <br /> accordance with applicable law. <br /> In further satisfaction of the requirements of the Act,the Operator promises to be responsible for the <br /> cost of reclamation up to the amount established by the Board and has attached hereto its financial warranty, <br /> which may be amended from time to time. The Operator agrees that it will maintain a financial warranty(or <br /> warranties)for the estimated costs of reclamation in good standing for the entire life of the permit. Please <br /> note that under the provisions of the Colorado Mined Land Reclamation Act and the Colorado Land <br /> Reclamation Act for the Extraction of Construction Materials, any Applicant or Operator that submits proof <br /> acceptable to the Board or Division of Minerals and Geology, that an Applicant or Operator is a unit of <br /> County or Municipal government, or is a department or division of State government, the Applicant or <br /> Operator is not required to submit or post any other instrument of financial responsibility but hereby <br /> promise's to be responsible for the cost of reclamation up to the amount specified by the Board. <br /> If the Board determines that the Operator is in default under this performance warranty and has failed <br /> to cure such default, although written notice of such default and ample time to cure such default have been <br /> given, the Operator's financial warranty shall be subject to forfeiture. <br />