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32. CLL does not contest the finding that it is in violation pursuant to C.R.S. 34- <br /> 32-124 for failure to comply with the terms of the permit as outlined in paragraphs <br /> 9, 10, 11, 13, 14 and 31. CLL confirms, due to its financial circumstances and lack of <br /> sufficient funds, it will not be able to cure or remedy these permit violations. <br /> 33. CLL does not contest the revocation of Permit No. M-1977-300. Therefore, <br /> the Permit is REVOKED pursuant to C.R.S. 34-32-124(6). <br /> 34. Pursuant to C.R.S. 34-32-118(3)(b) and the terms of the Financial Warranty, <br /> the Board may make a demand upon the Financial Warrantor for payment of the <br /> bond. Here, Hanover Insurance Company is not electing its option under C.R.S 34- <br /> 32-118(7) to reclaim the affected lands in lieu of forfeiture of the bond. <br /> 35. The Hanover Insurance Company does not contest the finding that the <br /> financial warranty is "materially impaired" due to the Operator's financial condition <br /> and Hanover Insurance Company and CLL do not contest the forfeiture of the <br /> financial warranty. Pursuant to C.R.S. 34-32-118(3)(b), Hanover Insurance <br /> Company will operate in good faith and, upon Order of the Board, immediately <br /> deliver to the Board the full amount warranted to the Board under Bond number <br /> 1067218, $7,674,022.00. <br /> 36. Although authorized under C.R.S. 34-32-124(2) and (7), the Parties agree <br /> issuance of a cease-and-desist order is not necessary, nor is the assessment of civil <br /> penalties necessary. <br /> 37. This Stipulated Agreement does not supplant, alter, impair or negate the <br /> applicable requirements in the Colorado Mined Land Reclamation Act or the Rules <br /> and Regulations of the Colorado Mined Land Reclamation Board, nor any other <br /> Federal, State or Local law or regulation. <br /> WHEREFORE, the Parties respectfully request that the Board approve this <br /> joint stipulation at its April 19th, 2023, meeting. <br /> Respectfully Submitted this day of April, 2023. <br /> Colorado Division of Reclamation, <br /> Mining and Safety <br /> Schwartzwalder Mine/M-1977-300 6 <br />