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financial warrantor, that the financial warranty was subject to forfeiture and that <br /> the matter had been scheduled for the Board's May 2022 meeting. <br /> 5. On April 26, 2022, the Division informed Operator that the hearing on <br /> forfeiture was rescheduled to the Board's June 22, 2022 meeting. <br /> 6. Operator failed to provide the increase in financial warranty by the <br /> June 22, 2022 Board meeting. <br /> 7. At the hearing, the Division presented testimony describing past <br /> efforts to obtain the surety increase from Operator, including two Board Orders and <br /> multiple inspections. Site conditions during the Division's most recent inspection <br /> remained the same as they had during the first inspection, so the financial <br /> warranty increase also remained the same. The Division had not received any <br /> financial warranty increase from Operator. <br /> 8. Operator presented testimony at the hearing indicating that no mining <br /> had been conducted since it had taken over the permit in 2019 and that it had no <br /> intention to mine the site. Operator agreed with forfeiture of the warranty and <br /> expressed willingness to help the Division however necessary with the final <br /> reclamation. <br /> CONCLUSIONS OF LAW <br /> 9. The Board has jurisdiction over this matter pursuant to the Colorado <br /> Mined Land Reclamation Act for the Extraction of Construction Materials, Article <br /> 32.5 of Title 34, C.R.S. (2021). <br /> 10. 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 <br /> notice of the default and ample time to cure such default. § 34-32.5-118(1)(b), <br /> C.R.S. (2021). Operator defaulted on its performance warranty, received written <br /> notice of the default, and failed to cure such default. The financial warranty is <br /> subject to forfeiture. <br /> 11. 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 /> Based on the foregoing findings of fact and conclusions of law, the Board <br /> hereby enters the following order: <br /> Colorado Farms LLC <br /> M-1988-052/Big R Pit <br /> MV-2022-003 2 <br />