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8. Through an order signed on January 13, 2020, the Board ordered <br />Operator's permit M-2005-024 revoked and found that Operator's failure to cure a <br />default of its performance warranty rendered the financial warranty subject to forfeiture. <br />9. On January 30, 2020, the Division notified Operator and the financial <br />warrantor, TBK Bank, that the financial warranty was subject to forfeiture and that a <br />hearing would be held at the Board's March 2020 meeting to consider final forfeiture. <br />10. On March 16, 2020, the Division sent both Operator and TBK Bank notice <br />that the hearing had been continued to April 22, 2020. <br />11. Neither Operator nor TBK Bank appeared at the April 22, 2020 Board <br />meeting <br />CONCLUSIONS OF LAW <br />1. The Board has jurisdiction over this matter pursuant to the Act. <br />2. Under section 34-32.5-118(1)(b), C.R.S., a financial warranty is subject to <br />forfeiture whenever an operator is in default under a performance warranty. The Operator is <br />in default under a performance warranty and failed to correct the default. <br />3. Under section 34-32.5-118(3)(a), C.R.S., at a hearing to consider whether a <br />financial warranty should be forfeited, the Board has authority to confirm its determination <br />that a financial warranty is subject to forfeiture. <br />ORDER <br />Operator did not appear in this matter to present any mitigating factors. There is <br />no information before the Board indicating that any action other than the requested <br />action is appropriate. Therefore, based on the foregoing findings of fact and <br />conclusions of law, the Board enters the following order: <br />The Board CONFIRMS the Board's determination that the financial warranty <br />should be forfeited. <br />The Board directs, pursuant to section 34-32.5-118(3)(b), C.R.S., TBK Bank to <br />immediately deliver to the Board the financial warranty for permit number M-2005-023, <br />in the form of Certificate of Deposit No. 6004507 in the amount of $23,833.72. <br />DONE and ORDERED this 28 day of May 2020. <br />FOR THE COLORADO MINED LAND <br />RECLAMATION BOARD <br />9 - <br />Max Gravel, LLC <br />Dallegge Pit #1, M-2005-023 <br />MV -2019-024 2 <br />