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payable to the United States, then, notwithstanding any other provision of this Financial Warranty, or of law,the <br /> Operator and Warrantor hereby agree that this Financial Warranty shall not be released until the Board is advised in <br /> writing by the BLM that the Operator's obligations to the BLM, for which this Warranty is executed, have been <br /> satisfied,and until the financial warranty has been released by the Board. <br /> This Financial Warranty may be executed in multiple copies,each of which shall be treated as an original,but together <br /> they constitute only one agreement,the validity and interpretation of which shall be governed by the laws of the State <br /> of Colorado. <br /> The provisions hereof shall bind and inure to the benefit of the parties hereto and their successors and assigns. <br /> SIGNED,SEALED AND DATED this 1$t day of March 2018 (Original Issue Date) <br /> Lexon Insurance Company (SEAL) <br /> Warrantor <br /> By: <br /> See attached Rider issued by Lexon Insurance Company dated <br /> Hourglass Sands, LLC (SEAL) <br /> Operator <br /> By: <br /> NOTARIZATION OF WARRANTOR'S ACKNOWLEDGEMENT <br /> STATE OF ) <br /> )ss. <br /> COUNTY OF ) <br /> The foregoing instrument was acknowledged before me this day of <br /> by as of Lexon Insurance Company <br /> NOTARY PUBLIC <br /> My Commission expires: <br /> Page 5 of 6 <br />