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i -2- WHEREAS, as part of the application for such permit, Principal has agreed with the State and the United States/OSMRE to complete a specified Plan ("the Plan") for the reclamation, as required by law, of the area or areas of lands disturbed by reason of mining operations. Such plan may be amended from time to time with the approval of the State, acting through the Department of Natural Resources, Division of Minerals and Geology ("the Division") or the Mined Land Reclamation Board ("the Board"), and the United States of America, acting through the Department of the Interior, Office of Surface Mining Reclamation and Enforcement <"the OSMRE">. The phrase "Board or Division" in this bond means that organ of State government which has the authority to act in the circumstance referred to, and recognizes that the Mined Land Reclamation Act and the Colorado Surface Coal Mining Reclamation Act confer distinctive and sometimes different responsibilities upon the Board and the Dl vision. NOW, THEREFORE, the conditions of this obligation are such that if the above-bonded Principal shalt, in conducting such mining and reclamation operations, faithfully perform the requirements of the Plan, as amended from time to t1 me, the conditions of the permit issued for such operations and all applicable provisions of law including the regulations adopted pursuant to applicable statutes, and if the Board or the Division shall make a finding thet the lands upon which such operations have been conducted have been satisfactorily reclaimed, and if the OSMRE shall concur with this finding, and if the Board or the Division shall receive a request for a bond release on such lands or a request for partial release as to any portion thereof, then this o611gation shall be exonerated and discharged and become null and void to the extent released in writing by the Board or the Division; otherwise, to remain in full force and effect. ADDITIONAL PROVISIONS (1) The amount of this bond is based upon estimates as to the cost of reclamation, and does not operate as a limit upon or otherwise restrict, the Principal's obligations to complete the reclamation plan and to comply in all respects with the permit and with applicable laws and regulations governing reclamation, even though the actual cost thereof may substantially exceed the amount of this bond. (2) This bond shall be reviewed by the Board or the Division from time to time, and with the knowledge of the OSMRE the Board or the Division may require an increase in the principal sum of this bond (and a corresponding increase in the surety amount) to cover increases in the costs of reclamation, but no such increase shall bind the Bank. (3) The description of lands above set forth is for convenience of reference only, and no error in such description nor any revision of the permitted mining area, nor the disturbance by the Principal of lands outside of the permitted mining area shall alter or diminish the Principal's obligation hereunder which shall extend to the reclamation of all such lands disturbed.