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HYDRO23709
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Entry Properties
Last modified
8/24/2016 8:44:06 PM
Creation date
11/20/2007 4:00:46 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981022
IBM Index Class Name
Hydrology
Doc Date
9/21/1992
Doc Name
COAL RECLAMATION BOND OFR USE WITH LETTER OF CREDIT FEDERAL MINE
Permit Index Doc Type
OTHER GROUND WATER
Media Type
D
Archive
No
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.n„ ~+~ ~L ~_ n!fltU LriNL FE_ ~ i-~, h~i: ~J:-c~rJ_uo <br />• ~2 <br />WHEREAS, as part of the application for such Permit, Principal has <br />agreed with the State and the United States of America to complete a spec}fied <br />plan (the "Plan") for the reclamatlort, as required by law, of the area or <br />areas of lands disturbed by reason of mining operations. The Plan may be <br />amended frpm time to time with the approval of the State, acting through the <br />Department of Haturai Resources, Mined Land Reclamation Division (the <br />"Division"), or the Board, and the Untted States, acting through the <br />Department of the Interior Office of Surface Mining Reclamation and <br />' Enforcement ("the OSMRE">. <br />The phrase "Board or Division" to this bond means that organ Ot State <br />government which has the authority to act fn the circumstances referred to, <br />and recognizes that the Colorado Surface Coal Mining Reclamation Act <br />(34-33-101 et sey.) confers distinctive and sometimes different <br />resDOnslbiltttes upon the Board and the Division.) <br />HOW, THEREFORE, the conditions OP this obligation are Such that ff the <br />Principal shall, 1n conducting such mining and reclamation operations, <br />falthfuliy perform the requirements of the P)an, as amended from time to time, <br />and compiy with the ccnditions of the Permit and all applicahle laws and <br />regulations of the State, and if the Board or the Division shall make a <br />finding that the lands upon which such operations have been conducted have <br />been satisfactorily reclaimed, and if the OSMRE shall concur with this <br />finding, than the Board or the Division shall, upon the receipt of a request <br />• for a bond release on such lands or a request for partial release as to any <br />portion thereof, and upon the completion of applicable procedures oP law and <br />regulation governing release of bond, release the Principal and the Bank to <br />the extent that 1t determines such reclamation to have been accompitshed. <br />Additional Provisions <br />(i) Irrevocable letters of credit shall be subject to the following <br />conditions: <br />(a) The letter may only be issued by a bank organized or authorized <br />to do business in the United States of America; <br />(b) The letter shall be irrevocable, except prospectively, and then <br />only upon the anniversary date of the letter and upon the gluing, to the <br />Division and the principal, of at least ninety days prior notice of the <br />intention to revoke. Letters of credit which have been prospectively revoked <br />shall be forfeited and collected by the Divlslon if not replaced by other <br />suitable bond at least 30 days prior to the expiration date of the letter. <br />(c) The letter must be payable to the <br />United States of America in part or 1n fuii upon <br />Division of a notice of forfeiture Issued fn aco <br />termination of the Cooperative Agreement entered <br />Colorado and the Department of the Interior, all <br />payable only to the Untted States cOSMRE> to the <br />involved. <br />State of Colorado and the <br />demand and receipt frgn the <br />~rdance with the iaw. Upon <br />Into betwen th State of <br />bonds shall revert to 6etng <br />extent that Federal lands ors <br />• (d) The Division will not accept a letter of credit to excess of 10 <br />percent of the bank's capital surplus account as shown on a recent balance <br />she6t Certified by a Certified PUb11c A[COUntant. <br />
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