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y <br /> ! _ STATE OF COLORADO <br /> DIVISION OF MINERALS AND GEOLOGY <br /> Depart of of Natural Resources <br /> 1313 Sherman 51.,Room 215 <br /> oen <br /> Denver,Colorado 80203 <br /> Phone:(303)866.3567 <br /> FAX:0031 8 3 2-8106 <br /> DEPARTMENT OF <br /> NATURAL <br /> RESOURCES <br /> Roy Romer <br /> FINANCIAL WARRANTY AND CONDITIONAL PROMISSORY NOTE Govm,or <br /> FOR THE USE WITH DEED OF TRUST lames S.Lochhead <br /> Executive Director <br /> Michael 8.Long <br /> Division Director <br /> Operator <br /> Operation <br /> Permit No. <br /> KNOW ALL MEN BY THESE PRESENTS, THAT: <br /> WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S. 1973, 34-32-101 <br /> et seq. (the "Act") , as amended, provides that no permit may be issued under <br /> the Act until the Mined Land Reclamation Board (the "Board") receives a <br /> Financial Warranty (or Warranties) as described in the Act. <br /> WHEREAS, (the "Operator") , <br /> a _ corporation, has applied for a permit to conduct <br /> a mining operation known as (the "Operation") , <br /> on certain lands in County, Colorado. These lands are <br /> described in the permit application, as amended and supplemented, and are <br /> referred to herein as the "Affected Lands" . <br /> WHEREAS, as part of the application for the permit, the Warrantor has <br /> agreed to be bound by all requirements of the Act and all applicable rules and <br /> regulations of the Board, as amended from time to time. <br /> WHEREAS, in its application for the permit, the Operator has agreed with <br /> the State to provide for reclamation of the Affected Lands that are now, or <br /> may become, subject to the permit, as required by law. <br /> WHEREAS, the Board has determined, in accordance with the Act, that the <br /> estimated costs of reclamation of the Affected Lands are those amounts for the <br /> stated periods of time as set forth herein. Said amount may be amended from <br /> time to time to reflect revised estimates of said costs of reclamation. <br /> WHEREAS, the Operator, in accordance with the Act, has promised and <br /> hereby promises the Board that it will be responsible for all of the estimated <br /> costs of reclamation with regard to the Affected Lands. <br /> WHEREAS, the Board has determined that the Financial Warranty by the <br /> Operator equals the estimated costs of reclamation, as approved by the Board, <br /> with regard to the Affected Lands. <br /> I <br />