2024-04-01_BONDING - M2016076 ‎(2)‎

• Permit No: M2016076
• IBM Index Class Name: Bonding
• Doc Date: 4/1/2024
• Doc Name: Performance Warranty
• From: BURNCO
• To: DRMS
• Type & Sequence: SO1
• Media Type: D
• Archive: No

WHEREAS, the Operator hereby gives the Board this performance warranty pursuant to
C.R.S. §§ 34-32-117(2) or 34-32.5-117(2), and herein promises the Board that it will comply
with all applicable requirements of the Hardrock or Construction Materials Act.
NOW, THEREFORE, The Operator hereby promises the Board that it will comply with
all applicable requirements of the Hard Rock or Construction Materials Act and applicable rules
and regulations of the Board.
The Operator hereby promises the Board that it will comply with all of the terms of the
application for a permit, as amended and supplemented, as well as any conditions attached to the
permit by the Board.
The Operator promises the Board, pursuant to C.R.S. §§ 34-32-112(1)(d) or
34-32.5-112(1)(b)(M, that it has the lawful authority to enter upon the Affected Lands to
conduct mining operations, including, but not limited to, reclamation. The Operator further
recognizes the right of the Board to enter to reclaim lands affected by the Operation.
The description of lands herein is for convenience of reference only, and no error in such
description, revision of the permitted mining area, or disturbance by the Operator of lands
outside of the permitted mining area shall alter or diminish the Operator's obligation hereunder,
which shall extend to the reclamation of all such lands disturbed.
The obligation of the Operator hereunder is such that, if the Operator shall successfully
comply with the requirements of the Hardrock or Construction Materials Act, applicable rules
and regulations, and the permit, then the Board, upon a finding that the Operator has so
complied, shall release this performance warranty, and the Operator from its obligation
hereunder. The obligation of the Operator hereunder shall continue until released by the Board
in accordance with applicable law.
The Operator promises to be responsible for the cost of reclamation up to the amount
established by the Board and has attached hereto its financial warranty, in accordance with
C.R.S. §§ 34-32-117(3) or 34-32.5-117(3). The Operator agrees that it will maintain a financial
warranty (or warranties) covering the Board's estimated costs of reclamation in good standing
for the entire life of the permit. If the Operator is a unit of County or Municipal government, or
is a department or division of State government, the Operator is not required to submit or post
any other instrument of financial responsibility but hereby promises to be responsible for the cost
of reclamation up to the amount specified by the Board.
If the Board determines that the Operator is in default under this performance warranty
and has failed to cure such default, although written notice of such default and ample time to
cure such default have been given, the Operator's financial warranty shall be subject to forfeiture.
This performance warranty may be executed in multiple copies, each of which shall be
treated as an original, but together they constitute only one agreement, the validity and
interpretation of which shall be governed by the laws of the State of Colorado. The provisions
hereof shall bind and inure to the benefit of the parties hereto and their successors and assigns.
wpm