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RPM,Inc.,25049 E.Alder Dr.,Aurora,CO 80016 Phone:(303)854-7499 Email:hlhumphries2 Jcomeast.net
<br /> current published Wall Street Journal Prime Rate for the period commencing at the end of such ninety-fay period
<br /> and ending on the date of actual payment
<br /> If the Board shall notify the Warrantor that the Operator is in default,and if the Board shall initiate any Financial
<br /> Warranty forfeiture procedures required by law or regulation,the Warrantor may,in lieu of making payment to the
<br /> Board of the amount due hereunder,cause the reclamation lobe timely performed in accordance with all requirements
<br /> of the Act and all applicable rules and regulations. In such event, when and if the reclamation has been timely
<br /> performed to the satisfaction of the Board or Division,this Financial Warranty shall be released. If the reclamation
<br /> shall not be so performed to the satisfaction of the Board or Division, this Financial Warranty shall remain in full
<br /> force and effect.
<br /> This Financial Warranty shall be subject to forfeiture whenever the Board determines that any one or more of the
<br /> following circumstances exist:
<br /> I. A Cease and Desist Order entered pursuant to Section 34-32-124 of the Act has been violated, and the
<br /> corrective action proposed in such Order has not been completed,although ample time to have done so has
<br /> elapsed,or
<br /> 2. The Operator is in default under its Performance Warranty,and such default has not been cured,although
<br /> written notice and ample time to cure such default has been given;or
<br /> 3. The Operator and/or the Warrantor has failed to maintain its Financial Warranty in good standing as required
<br /> by the Act;or
<br /> 4. The Warrantor no longer has the financial ability to cant'out its obligations in accordance with the Act
<br /> The description of lands herein is for convenience of reference only,and no error in such description,nor any revision
<br /> of the permitted mining area,nor the disturbance by the Operator of lands outside of the permitted mining area shall
<br /> alter or diminish the obligations of the Operator and/or Warrantor hereunder,which shall extend to the reclamation
<br /> of all such lands disturbed
<br /> If this Financial Warranty applies to National Forest System lands,and if this Financial Warranty is accepted by the
<br /> United States Forest Service ("U.S.F.S.")as the bond required under 36 C.F.R. 228.13,then the Operator, having
<br /> requested that the Board and the U.S.F.S.accept this single Financial Warranty in lieu of the separate bonds which
<br /> would otherwise be required by applicable law,hereby agrees that,notwithstanding any other provision hereof,or of
<br /> law, this Financial Warranty shall remain in full force and effect until U.S.F.S. has advised the Board by written
<br /> notice that the Operator's obligations to U.S.F.S.,for which this Warranty is executed,have been satisfied,and until
<br /> the financial warranty has been released by the Board.
<br /> If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land Commissioners("Land
<br /> Board"),and if this Financial Warranty,in whole or in part,is accepted by the Land Board as the bond required under
<br /> its applicable law and procedures,then the Operator,having requested that the State accept this Financial Warranty
<br /> in lieu of the separate bonds which would otherwise be required by the Colorado Mined Land Reclamation Board or
<br /> Division of Reclamation, Mining and Safety and by the Land Board,hereby agrees that,notwithstanding any other
<br /> provision hereof,or of law,this Financial Warranty shall remain in full force and effect until the Board is notified in
<br /> writing by the Land Board that the Operator's obligations to the Land Board,for which this Warranty is executed,
<br /> have been satisfied,and until the financial warranty has been released by the Board.
<br /> If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management,United States
<br /> Department of the Interior(the"BLM"),and if,at the request of the Operator on this Financial Warranty,the BLM
<br /> has,pursuant to 43 C.F.R.3809.1-9,accepted this Financial Warranty in lieu of requiring a separate reclamation bond
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