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<br /> <br />2- <br />FURTHER, the Permiitee promises the Board, pursuant to 34-32.5-I 12(1)(d) of the Act, <br />that it has the lawful authority to enter upon [he Affected Lands to conduct mining operations, <br />including, but not limited to, reclamation. The Permittee further recognizes the right of the Board <br />to enter to reclaim lands affected by the operation. <br />The description of lands herein is for convenience of reference only, and no error in <br />such description, nor any revision of the permitted mining area, nor the disturbance by the <br />Warrantor of lands outside of the permitted mining azea, its agents, contractors, and <br />subcontractors shall alter or diminish the Pemtittee's obligation hereunder, which shall extend <br />to the reclamation of all such lands disturbed. <br />The obligation of the Permit[ee hereunder is such that, if the Permittee shall <br />successfully comply with the requirements of the Act, applicable rules and regulations, and the <br />permit, then the Board, upon a finding that the Permittee has so complied, shall release this <br />performance warranty, and the Permittee from its obligation hereunder, to the extent that the <br />Board determines that such compliance has been accomplished. The obligation of the Permittee <br />hereunder shall continue until released in whole or in part by the Board in accordance with <br />applicable law. <br />In further satisfaction of the requirements of the Act, the Permittee has attached hereto <br />its financial warranty, which may be amended from time to time. The Permittee agrees that it <br />will maintain a financial warranty (or warranties) for the estimated costs of reclamation in good <br />standing for the entire life of the permit. <br />If the Board determines that the Permittee is in default under this performance warranty <br />and has failed to cure such default, although written notice of such default and ample time to <br />cure such default have been given, the Perrnittee's financial warranty shall be subject to <br />forfeiture. In addition, the permit to extract construction material may be revoked. <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. <br />The provisions hereof shall bind and inure to the benefit of the parties hereto and [heir <br />successors and assigns. <br />SIGNED, SEALED AND DATED, this day of <br />Sko>;lund Excavating Inc. (SEAL) <br />Permittee <br />By <br />Title: <br />NOTE: Notarization must also be completed on following page. <br />