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7. The Division holds a financial warranty for permit number M-2004-045 in <br /> the amount of$12,000.00. The bond is adequate. <br /> 8. Through an order effective September 10, 2021, the Board ordered <br /> Operator's permit M-2004-045 revoked for failure to cure a default of its performance <br /> warranty. <br /> 9. On January 4, 2022, the Division notified Operator and the financial <br /> warrantor, Thomas H. Smith, via certified rnail that the financial warranty was subject to <br /> forFeiture and that a hearing would be held at the Board's February 2022 meeting to <br /> consider forteiture. <br /> 10. Neither Operator nor Thomas Smith appeared at the Febn.�ary 16, 2422 <br /> Board meeting <br /> CONCLUSIONS OF LAW <br /> 1. The Board has jurisdiction over this matter pursuant to the Colorado Land <br /> Reclamation Act for the Extraction of Construction Materials, A�ticle 32.5 of Title 34, <br /> C.R.S. (2021) ("AcY'). <br /> 2. The Board may find a financial warranty subject to forfeiture where an <br /> Operator failed to cure a default under a performance warranty despite written notice <br /> of the default and ample time to cure such default. § 34-32.5-118(1)(b), C.R.S. <br /> (2021). Operator defautted on its perFormance waRanty, received written notice of <br /> the default, and failed to cure such default. The financial warranty is subject to <br /> forteiture. <br /> 3. Section 34-32.5-118, C.R.S, provides that where financial warranties <br /> are subject to forfeiture, the Board may order the forfeiture of financial warranties <br /> upon thirty-day notice to all financial warrantors. Operator and all financial <br /> warrantors received notice of this hearing. <br /> ORDER <br /> The Operator and financial wa�rantor did not appear in this matter to present any <br /> mitigating factors. There is no information before the Board indicating that any action <br /> other than the requested action is appropriate. Therefore, based on the foregoing <br /> findings of fact and conclusions of law, the Board hereby enters the following order: <br /> The Board FINDS that the financial warranty for M-2004-045 in the amount of <br /> $12,000 is subject to forfeiture for Operato�'s failure to cure a default under the <br /> pertormance warranty and that notice that the financial warranty is subject to forfeiture <br /> has been provided in accordance with section 34-32.5-118(2), C.R.S. <br /> Kevin Ames, Rio Grande Ranch, LLC <br /> M-2004-045 <br /> MV-2021-010 2 <br />