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RULE 2 PERMITS <br />-a- <br />(9) In the event the surety becomes unable to fulfill its obligations <br />under the bond for any reason, written notice shall be mailed immediately, by <br />certified mail, to the Principal and the Division. <br />(10) The State may make demand upon the surety for payment hereunder <br />if the Board or the Division determines, and the OSMRE concurs, that <br />reclamation which ought to have been performed pursuant to the Plan by the <br />Principal, or its successors or assigns. remains unperformed, and if surety <br />forfeiture procedures required by law have been initiated. No other condition <br />_ precedent need be fulfilled to entitle the State to receive the amount so <br />demanded. However, if, upon completion of reclamation, the amounts expended <br />for reclamation shall be less than the amount received from the surety, the <br />excess shall be promptly refunded to the surety. <br />(11) If demand is made upon the surety for payment of an amount due <br />to the State hereunder, and if the surety fails to make payment of such amount <br />within ninety (90) days after the date of receipt of such demand by the <br />surety, and if it should thereafter be determined, by agreement of the surety <br />or by final judgment of court, that the amount demanded was properly payable, <br />surety agrees to pay to the State. in addition to the amount demanded, <br />Interest at the prime rate in effect from time to time at The First National <br />Bank of Denver for the period'tommencing at the end of such ninety—day period <br />and ending on the date of actual payment. <br />(12) If the State shall notify the surety that the Principal is in <br />default and if the State shall initiate any bond forfeiture procedures <br />required by law or regulation, the surety may, in lieu of making payment to <br />the State of the amount due hereunder, cause the reclamation to be timely <br />performed in accordance with the Plan. In such event, when and if the . <br />reclamation has been timely performed to the satisfaction of the Board or <br />Division and the OSMRE, this bond shall be released. If the reclamation shall- <br />not <br />hallnot be so performed to the satisfaction of the Board or Division and the <br />OSMRE, this bond shall remain in full force and effect. <br />(13) (a) If this bond applies to National <br />Forest System lands, and if this bond is accepted by the United States Forest <br />Service ("U.S.F.S.") as the bond required under 36 C.F.R. 252.13, then the <br />Principal and the surety, having requested that the State and the U.S.F.S. <br />accept this single bond in lieu of the separate bonds which would otherwise be <br />required by applicable law, hereby agree that, notwithstanding any other <br />provisions hereof, or of law, this bond shall remain in full force and .effect <br />until U.S.F.S. has advised the State that the reclamation work has been <br />satisfactorily completed in accordance with the requirements of applicable <br />Federal law and regulations. <br />(b) If this bond applies to lands <br />under the jurisdiction of the State Board of Land Commissioners ("Land <br />Board"), and if this bond, in whole or in part, is accepted by the Land Board <br />as the bond required under its applicable law and procedures, then the <br />Principal and the surety, having requested that the State accept this single <br />bond in lieu of the separate bonds which would otherwise be required by the <br />Colorado Mined Land Reclamation Board or Division and by the Land Board, <br />hereby agree that, notwithstanding any other provision hereof, or of law, this <br />bond shall remain in full force and effect until released by the Land Board. <br />Rule 2 Permits 2-27 Revision Date: 6/23/08 <br />Revision No.: MR -91 <br />