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~- • i <br />-2- <br />The Operator further promises the Board, pursuant to 34-32-112(1)(d) <br />of the Act, that it has the lawful authority to enter upon the Affected Lands <br />to conduct mining operations, including, but not limited to, reclamation. <br />The description of lands herein is for convenience of reference only, <br />and no error in such description, nor any revision of the permitted mining <br />area, nor the disturbance by the Warrantor of lands outside of the permitted <br />mining area shall alter or diminish the Operator's obligation hereunder, which <br />shall extend to the reclamation of all such lands disturbed. <br />The obligation of the Operator hereunder is such that, if the <br />Operator shall successfully comply with the requirements of_the Act, <br />applicable rules and regulations, and the permit, then the Board, upon a <br />finding that the Operator has so complied, shall release this performance <br />warranty, and the Operator from its obligation hereunder, to the extent that <br />the Board determines that such compliance has been accpmplished. The <br />obligation of the Operator hereunder shall continue until released in whole or <br />in part by the Board in accordance with applicable law,'- <br />In further satisfaction of the requirements of the Act, the Operator <br />has attached hereto its financial warranty, which may ke amended from time to <br />time. The Operator agrees that it will maintain a financial warranty (or <br />warranties) for the estimated costs of reclamation in good standing for the <br />entire life of the permit. <br />If the Board determines that the Operator is `r. default under this <br />performance warranty and has failed to cure such default, although written <br />notice of such default and ample time to cure such defri~lt have been given, <br />the Operator's financial warranty shall be subject to terfei.ture. <br />This performance warranty may be executed in multiple copies, each of <br />which shall be treated as an original, but together thE~ cor;stitute only one <br />agreement, the validity and interpretation of which sh..~ll be governed by the <br />laws of the State of Colorado. <br />The provisions hereof shall bind and inure to the benefit of the <br />part5es hereto and their successors and assigns. <br />Signed and dated this fire t. day of ~~M ,lgg~ <br />Valrn inr <br />Operator <br />By ~Fhea,B~C~~S\~Q/ <br />Thomas E. Brubaker, President <br />