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6. Operator presented testimony at the hearing regarding its efforts to <br /> obtain a correct letter of credit from the bank that issued the letter of credit <br /> comprising its financial warranty. The Operator had been unable to obtain the <br /> correct letter of credit from the bank and unable to find an alternate financial <br /> warrantor. <br /> CONCLUSIONS OF LAW <br /> 7. The Board has jurisdiction over this matter pursuant to the Colorado <br /> Mined Land Reclamation Act for the Extraction of Construction Materials, <br /> Article 32.5 of Title 34, C.R.S. (2025). <br /> 8. Section 34-32.5-124(6)(a), C.R.S., provides for the suspension, <br /> modification, or revocation of permit when the Board determines that an operator <br /> has violated a permit provision. Operator's failure to comply with the Board's <br /> Order warrants revocation of the permit. <br /> 9. The Board may find a financial warranty subject to forfeiture where an <br /> Operator failed to cure a default under a performance warranty despite written <br /> notice of the default and ample time to cure such default. § 34-32.5-118(1)(b), <br /> C.R.S. (2021). Operator defaulted on its performance warranty, received written <br /> notice of the default, and failed to cure such default. The financial warranty is <br /> subject to forfeiture. <br /> 10. Section 34-32.5-118, C.R.S provides that where financial <br /> warranties are subject to forfeiture, the Board may order the forfeiture of <br /> financial warranties upon thirty-day notice to all financial warrantors. Operator <br /> and all financial warrantors received notice of this hearing. <br /> ORDER <br /> Based on the foregoing findings of fact and conclusions of law, the Board <br /> hereby enters the following order: <br /> The Board orders that permit number M-2013-066 is REVOKED. <br /> The Board CONFIRMS its determination that the financial warranty should <br /> be forfeited. <br /> The Board ORDERS that the financial warranty for Permit number M-2013- <br /> 066 is FORFEITED and orders all financial warrantors to immediately deliver to <br /> the Board all amounts warranted by applicable financial warranties. <br /> The Board hereby WAIVES the $3,400.00 in civil penalties previously <br /> assessed against the Operator in the Board's November 19, 2025 Order. <br /> Arboles Sand & Stone, LLC. <br /> M-2013-066 <br /> MV-2025-016 2 <br />