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M -2- NOW, TTiEREFORE, the Operator hereby promises the Board that it will comply with all applicable requiremenu of the Act and rt:les and regulations of the Board with respect to the Affected Iaads. FURTIiER, the Operator hereby promises the Board that it will comply with all of the terms of the application for a permit, as amended and supplemented, as welt as any conditions attached to the permit by the Board. FURTKIIt, the Operator promises the Board, pursuant to 34-32-112(2)(d) or 34-32.5-112(1)(c)(iv) of the Ac[, that it has the lawful authority to enter upon the Affected Lands to C:OnduU mining operations, including, but not limited to, reclamation. The Operator further reeogtrizes the right of the Board to enter to reclaim lands affected by the operation. Zbe description of lands herein is for convenience of reference only, and ao error in such description, nor any revision of the permitted mining area, nor the disturbance by the Warrantor of lands outside of the permitted mining area shall alter or diminish the Operator's obligation hereunder, which shall extend to the reclamation of all such lands disturbed. T'he obligation of the Operator hereunder is such that, if the Operator shall successfully comply with the requirements of the Act, applicable rules and regulatioru, and the permit, then the Board, upon a fording that the Operator has so complied, shall release this performance warranty, and the Operator from its obligation hereunder, to the extent that the Board detrtmines drat such compiianee has been accomplished. The obligation of the Operator hereunder shall continue until released in whole or in part b}• the Board in accordance with applicable law. In further satisfaction of the requitetnenu of the Act, the Operator has attached hereto iu financial warranty, which may be amended from time to time. The Operator agrees that it will maintain a finanttisl warranty (or warranties) for the estimated cosu of reclamation in good standing for the entire life of the permit. If the Board determines that the Operator is in default under this performance warranty and has failod to cure such default, although ~Z-itten notice of such default and ample rime to cure such default have been given, the Operator's fuancial warranR' shall be subject to forfeiture. Ibis perfotmzrce w•arraaR• may be ezecu[ed in nmltiple topics, ee:h of which shall be treated as an original, but together they constitute only one agreement, the validity and intupretation of which shall be governed by the laws of the State of Colorado.