Laserfiche WebLink
<br /> <br />NOW THEREFORE, the conditions of this obligation are such that if <br />the above bonded principal shall, in conducting such exploration operations, <br />faithfully perform the requirements of the narrative description or exploration <br />and reclamation plan, as applicable and as amended from time to time, the <br />conditions of the Notice of Intent for such operations and all applicable <br />provisions of Iaw including the regulations adopted pursuant to applicable <br />statutes, and if the board or the division shall make a finding that the lands <br />upon which such operations have been conducted have been satisfactorily re- <br />claimed, and if the board or the division shall recieve a request for a bond <br />release on such lands or a request for partial release as to any portion <br />thereof, then this obligation shall be exonerated and discharged and become <br />null and void to the extent released in writing by the board or the division; <br />otherwise to remain in full force and effect, <br />ADDITIONAL PROVISIONS <br />(1J The amount of this bond is based upon estimates as to the cost of <br />reclamation, and does not operate as a limit upon or otherwise restrict, the <br />`principal's obligations to complete the reclamation and to comply in all <br />respects with the Notice of Intent to Explore and with applicable Zaws and <br />regulations governing reclamation, even though the actual cost thereof may <br />substantially exceed the amount of this bond. <br />(2) This bond shall be reviewed by the board or the division from time <br />to time, and the board or the division may require an increase in the principal <br />sum of this bond (and a corresponding increase in the surety amount) to cover <br />increases in the costs of reclamation, but no such increase shall bind the bank <br />unless and until it shall have consented thereto in writing by the issuance of <br />an additonal certificate of deposit or by a substitute certificate of deposit <br />in an increased amount. <br />(3) The description of lands above set forth is for convenience of reference <br />only, and no error in such description nor any revision of the approved <br />exploration area, nor the disturbance by the principal of lands outside of the <br />approved exploration area shall alter or diminish the principal's obligation <br />hereunder or the bank's obligation under its certificate of deposit, which <br />shall extend to the reclamation of a1I such lands disturbed. <br />(41 The obligation of the bank shall continue until released in writing <br />by the state in accordance with applicable Zaws specifying bond release <br />procedures. The parties understand that periods of years may necessarily be <br />required before determination can be made that reclamation work has been <br />satisfactorily completed. No revision, extension or renewal of the operator's <br />Notice of Intent to Explore or of the time allowed the operator to complete <br />reclamation shall diminish the bank's obligation under its certificate of <br />deposit. <br />(5) The state may present for payment any certificate of deposit held <br />hereunder and convert the same to cash if the board or the division determines <br />that reclamation which ought to have been performed by the principal, or its <br />successors or assigns, remains unperformed. No other condition precedent need <br />be fulfilled to entitle the state to receive the amount of any such certificate. <br />-2- <br />