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cancellation date and then only upon acceptance of the cancellation by the Board or the <br />Division. The cancellation shall be accepted by the Board and the Division if the <br />Operator obtains a suitable replacement bond before the proposed cancellation date and <br />then only if the lands for which the Self -Bond, or portion thereof, was accepted have not <br />and will not be disturbed under the terms of the Permit, or the Self -Bond has been <br />released in accordance with the provisions of the Act and the rules and regulations <br />promulgated thereunder. <br />VI. This Guarantee shall be and continue effective notwithstanding any present or future legal disability <br />of the Operator. <br />VII. There are no conditions or limitations to this Guarantee except those contained herein at the date <br />hereof, and thereafter no alteration, change or modification hereof shall be binding or effective <br />unless executed in writing, signed by the Guarantor, and approved by the Board or the Division. <br />VIII. Guarantor agrees to pay all costs and expenses incurred by the State which are expended in any <br />successful action instituted to enforce the terms of this Guarantee. <br />IX. This Guarantee shall be good and effective notwithstanding any change or changes in the business <br />name of the Operator. <br />X. No changes, revisions, modifications or renewals to the Self -Bond of the Operator or the terms of <br />the Permit shall act as a release of the Guarantor from this Guarantee. <br />XI. All notices required to, or which may be given shall be effective when received by the addressees at <br />the addresses specified below: <br />For the Guarantor: <br />Tri-State Generation and Transmission Association Inc. <br />Attn: Senior Vice President and Chief Financial Officer <br />1100 W. 116` Ave. <br />Westminster, CO 80234 <br />2. For OSMRE: <br />State of Colorado <br />Division of Reclamation, Mining and Safety <br />1313 Sherman Street, Room 215 <br />Denver, Colorado 80203 <br />Personal delivery shall have the same effect as notice given by mail. Notices given by mail shall be <br />sent certified. <br />-5- <br />