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draws water (--450 feet below Steve level), whichever comes first. This level of drawdown is <br /> expected to provide approximately 8 months of storage before mine water treatment restart is <br /> required. <br /> (b) CLL's contract with Ensero Solutions will require Ensero Solutions to <br /> provide the Division a corporate surety bond in the amount of the NTE Price covering the 2023 <br /> Work in substantially the form approved by the Division and attached hereto as Exhibit B("Ensero <br /> Bond"). <br /> (c) Upon the Division's receipt and approval of the Ensero Bond, Hanover and <br /> CLL will submit to the Division a rider reducing the amount of the Hanover Bond by the amount <br /> of the Ensero Bond ("Hanover Rider") pursuant to Hard Rock Rule 4.1(3) such that the total <br /> amount bonded under the Hanover Bond and the Ensero Bond, in the aggregate, equals <br /> $7,674,022.00; the Division and Hanover reached agreement regarding partial assignment to <br /> Hanover of the Division's right of recovery of reclamation costs not to exceed $7,674,022.00 <br /> attached hereto as Exhibit D ("Recovery Agreement"). <br /> (d) Upon the Division's receipt and approval of Hanover Rider and execution <br /> of the Recovery Agreement: (1)Hanover will pay to CLL an amount equal to the NTE Price,which <br /> amount CLL may only use for the purpose of payment for the 2023 Work; (2) the Division will <br /> authorize the temporary suspension of DRMS permit requirements directly related to the <br /> monitoring of groundwater at the site that is not covered by either the 2023 Scope or the Surface <br /> Reclamation until March 31, 2024; and(3) CLL will issue a notice to proceed with the 2023 Work <br /> to Ensero Solutions. <br /> (e) If all of the undertakings set forth in subparagraphs (a) - (d) above are not <br /> completed on or before May 15, 2023, Hanover will reinstate the Hanover Bond in the full amount <br /> of$7,674,022.00, CLL will terminate the Ensero Solutions contract, CLL and the Division will <br /> cooperate to terminate the Ensero Bond, and this Memorandum will terminate as further provided <br /> in paragraph 5 below; provided, however, in no event will Hanover reinstate the Hanover Bond in <br /> the full amount of$7,674,022.00 once Hanover has made payment of the NTE Price to CLL and, <br /> in such case,CLL will utilize the NTE Price to establish a cash bond pursuant to Hard Rock Rules <br /> 4.1(10)and 4.3.1. <br /> (0 As part of acceptance of this agreement,CLL agrees to provide and to cause <br /> Ensero to provide the Division with copies of all monthly costs and expenditures including <br /> equipment, labor, sampling and supplies related to the running of the water treatment plant for the <br /> assigned time period. Additionally, a complete electronic version of the standard operating <br /> procedures of the water treatment plant system shall be submitted to the Division prior to the <br /> termination of the Memorandum and Division consideration of the Ensero Bond release. <br /> (g) By entering into this Memorandum, Hanover is not making an election <br /> under the bond pursuant to Hard Rock Rule 4.20(11), nor is Hanover agreeing to supervise, <br /> guarantee, or otherwise be responsible for the performance of Ensero or CLL under this <br /> Memorandum, except to the extent set out under the Hanover Bond(as it may be amended by the <br /> Hanover Rider). <br /> 3 <br />