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WHEREAS,the Operator hereby gives the Board this performance warranty pursuant to <br /> C.R.S. §§34-32417(2) or 34-32.5-117(2), and herein promises the Board that it will comply <br /> with all applicable required of the Hardrock or Construction Materials Act. <br /> NOW,THEREFORE, The Operator hereby promises the Board that it will comply with <br /> all applicable requirements of the Hard Rock or Construction Materials Act and applicable rules <br /> and regulations of the Board. <br /> The Operator hereby promises the Board that it will comply with all of the terms of the <br /> application for a permit,es amended and supplemented,as well as any conditions attached to the <br /> permit by the Board. <br /> The Operator promises the Board, pursuant to C.R.S. §§ 3432-112(lXd) or <br /> 34-32.5-112(1Xb)(IV), that it has the lawful authority to enter upon the Affected Lands to <br /> conduct mining operations, including, but not limited to, reclamation. The Operator further <br /> recognizes the right of the Board to enter to reclaim lands affected by the Operation. <br /> The description of lands herein is far convenience of reference only,and no error in such <br /> description, revision of the permitted mining area, or disturbance by the Operator of lands <br /> outside of the permitted mining area shall alter or diminish the Operator's obligation hereunder, <br /> which shall extend to the reclamation of all such lands disturbed. <br /> The obligation of the Operator hereunder is such that, if the Operator shall successfully <br /> comply with the requirements of the Hardrock or Construction Materials Act, applicable rules <br /> and regulations, and the permit, then the Board, upon a finding that the Operator has so <br /> complied, shall release this performance warranty, and the Operator from its obligation <br /> hereunder. The obligation of the Operator hereureler shall continue until released by the Board <br /> in accordance with applicable law. <br /> The Operator promises to be responsible for the cost of reclamation up to the amount <br /> established by the Board and has attached hereto its financial warranty, in accordance with <br /> C.R.S. §§34-32-117(3)or 34-32.5-117(3). The Operator agrees that it will maintain a financial <br /> warranty (or warranties) covering the Board's estimated costs of reclamation in good standing <br /> for the entire life of the permit. If the Operator is a unit of County or Municipal government,or <br /> is a department or division of State government,the Operator is not required to submit or post <br /> any other instrument of financial responsibility but hereby promises to be responsible for the cost <br /> of reclamation up to the amount specified by the Board. <br /> If the Board determines that the Operator is in default under this performance warranty <br /> and has failed to cmc such default, although writoaa notice of such default and maple time to <br /> cure such default have been given,the Operator's financial warranty shall be subject to forfeiture. <br /> This performance warranty may be executed in multiple copies, each of which shall be <br /> treated as an original, but together they constitute only one agreement, the validity and <br /> interpretation of which shall be governed by the laws of the State of Colorado. The provisions <br /> hereof shall bind and inure to the benefit of the parties hereto and their successors and assigns. <br /> - 12- <br /> Summit Engineering Job Number: 240328CE 57 <br /> 719-589-6147 <br /> Alamosa, CO <br />