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WHEREAS, in its application for the permit, the Operator has agreed to be bound by all requirements of <br /> the Hardrock or Construction Materials Act and all applicable rules and regulations of the Board, as amended <br /> from time to time. <br /> WHEREAS, the Operator hereby gives the Board this performance warranty pursuant to C.R.S. <br /> §§ 34-32-117(2) or 34-32.5-117(2), and herein promises the Board that it will comply with all applicable <br /> requirements of the Hardrock or Construction Materials Act. <br /> NOW, THEREFORE, The Operator hereby promises the Board that it will comply with all applicable <br /> requirements of the Hard Rock or Construction Materials Act and applicable rules and regulations of the Board. <br /> The Operator hereby promises the Board that it will comply with all of the terms of the application for a <br /> permit, as amended and supplemented, as well as any conditions attached to the permit by the Board. <br /> The Operator promises the Board, pursuant to C.R.S. §§ 34-32-112(1)(d) or 34-32.5-112(1)(b)(IV), that <br /> it has the lawful authority to enter upon the Affected Lands to conduct mining operations, including, but not <br /> limited to, reclamation. The Operator further recognizes the right of the Board to enter to reclaim lands affected <br /> by the Operation. <br /> The description of lands herein is for convenience of reference only, and no error in such description, <br /> revision of the permitted mining area, or disturbance by the Operator of lands outside of the permitted mining <br /> area shall alter or diminish the Operator's obligation hereunder, which shall extend to the reclamation of all such <br /> lands disturbed. <br /> The obligation of the Operator hereunder is such that, if the Operator shall successfully comply with the <br /> requirements of the Hardrock or Construction Materials Act, applicable rules and regulations, and the permit, <br /> then the Board, upon a finding that the Operator has so complied, shall release this performance warranty, and <br /> the Operator from its obligation hereunder. The obligation of the Operator hereunder shall continue until released <br /> by the Board in accordance with applicable law. <br /> The Operator promises to be responsible for the cost of reclamation up to the amount established by the <br /> Board and has attached hereto its financial warranty, in accordance with C.R.S. §§ 34-32-117(3) or <br /> 34-32.5-117(3). The Operator agrees that it will maintain a financial warranty (or warranties) covering the <br /> Board's estimated costs of reclamation in good standing for the entire life of the permit. If the Operator is a unit <br /> of County or Municipal government, or is a department or division of State government, the Operator is not <br /> required to submit or post any other instrument of financial responsibility but hereby promises to be responsible <br /> 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 to <br /> cure such default, although written notice of such default and ample time to cure such default have been given, <br /> the Operator's financial warranty shall be subject to forfeiture. <br /> This performance warranty may be executed in multiple copies, each of which shall be treated as an <br /> original, but together they constitute only one agreement, the validity and interpretation of which shall be <br /> governed by the laws of the State of Colorado. The provisions hereof shall bind and inure to the benefit of the <br /> parties hereto and their successors and assigns. <br />