1971-11-15_PERMIT FILE - M1977193

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• i NOW, THEREFORE , The conditions of this obligation are such that if the operator shall, in conducting such operations , faithfully perform the requirements of the reclamation plan, the provisions of the application approved by the Mined Land Reclamation Board, and the conditions of the permit issued to en- gage in open mining operations by the rained Land Reclama- tion Board, relating tc the Colorado Mined Land Reclamation Act, as amended (1976 Sess Laws H. B . 1065) and the Rules and Regulations adopted pursuant thereto , upon the Mined Land Reclamation Board making a finding that the lands described above , or any portion of such lands have been satisfactorily reclaimed and approving the Operator' s request for release of this surety on such lands , or any portion thereof, then this obligation shall be exonerated and discharged either in full or in part and become null and void; otherwise to remain in full force and effect . PROVIDED, However, the operator shall not be liable under this surety agreement for an amount greater in the aggregate than the sum designated in the first paragraph hereof, unless increased by a later amendment to this surety agreement . This surety agree- ment shall be reviewed by the Board from time to time , in accord- ance with the provisions of the Act, and the Board may request an increase in the face value of this surety agreement to cover in- creases in the costs of reclamation . In the event the effective dates of this surety expire before the Board finds the lands de- scribed above to have been satisfactorily reclaimed, then on or before such expiration date the Board shall make a demand for pay- ment on the surety submitted to it pursuant to this agreement to the proper parties and use such funds to perform the necessary reclamation operations unless the operator files a substitute surety acceptable to the Mined Land Reclamation Board which specifically assumes liability for all obligations for all opr-n mining -2-