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l. A Cease and Desist Order entered pursuant to Section 34-32-124 of the Act has been violated,and the corrective
<br /> action proposed in such Order has not been completed,although ample time to have done so has elapsed; or
<br /> 2. The Permittee is in default under its Performance Warranty,and such default has not been cured,although written
<br /> notice and ample time to cure such default has been given; or
<br /> 3. The Permittee and/or the Surety has failed to maintain its Financial Warranty in good standing as required by
<br /> the Act; or
<br /> 4. The Surety no longer has the financial ability to carry 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 Permittee or Contractor of lands outside of the permitted mining
<br /> area shall alter or diminish the obligations of the Permittee,Contractor and/or Surety hereunder, which shall extend to
<br /> all of the tasks identified in the SOW.
<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 Permittee, having
<br /> requested that the Board and the U.S.F.S.accept this single Financial Warranty in lieu of the separate bonds which would
<br /> otherwise be required by applicable law, hereby agrees that, notwithstanding any other provision hereof,or of law,this
<br /> Financial Warranty shall remain in full force and effect until U.S.F.S. has advised the Board by written notice that the
<br /> Permittee's obligations to U.S.F.S., for which this Surety is executed, have been satisfied, and until the financial
<br /> 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 Permittee, having requested that the State accept this Financial Warranty in
<br /> 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 Permittee's obligations to the Land Board, for which this Surety is executed, have
<br /> 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 Permittee on this Financial Warranty,the BLM has,
<br /> pursuant to 43 C.F.R.3809.1-9,accepted this Financial Warranty in lieu of requiring a separate reclamation bond payable
<br /> to the United States, then, notwithstanding any other provision of this Financial Warranty, or of law, the Permittee and
<br /> Surety hereby agree that this Financial Warranty shall not be released until the Board is advised in writing by the BLM
<br /> that the Permittee's obligations to the BLM,for which this Surety is executed,have been satisfied,and until the financial
<br /> warranty has been released by the Board.
<br /> This Financial Warranty may be executed in multiple copies, each of which shall be treated as an original, but together
<br /> they constitute only one agreement,the validity and interpretation of which shall be governed by the laws of the State
<br /> of Colorado.
<br /> The provisions hereof shall bind and inure to the benefit of the parties hereto and their successors and assigns.
<br /> Electronic Signatures are acceptable
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