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-a- <br />If the Boazd shall notify the Warrantor that the Operator is in default, and if the Boazd shall initiate any <br />Financial Warranty forfeiture procedures required by law or regulation, the Warrantor may, in lieu of <br />malting payment to the Boazd of the amoutu due hereunder, cause the reclamation to be timely performed <br />in accordance with all requirements of the Att and all applicable Hiles and regulations. In such event, <br />when and if the reclamation has been timely performed to the satisfaction of the Boazd or Division, this <br />Financial Warranty shall be released. If the reclamation shall not be so performed to the satisfaction of <br />the Board or Division, this Financial Warranty shall remain in full force and effect. <br />This Financial Warranty shall be subject to forfeiture whenever the Board determines that any one or <br />more of the following circumstances exist: <br />1. A Cease and Desist Order entered pursuant to Section 34-32-124 of the Act has bcen <br />violated, and the corrective action proposed in such Order has not been completed, although ample time <br />to have done so has lapsed; or <br />2. The Operator is in default under its Performance Warranty, and such default has not <br />been cured, although written notice and ample time to cure such default has been given; or <br />3. The Operator and/or the Warrantor has failed to maintain its Financial Warranty in good <br />standing as required by We Act; or <br />4. The Warrantor no longer has the financial ability to carry out iu obligations in <br />accordance with the Act. <br />The description of lands herein is for convenience of reference only, and no error in such description, <br />nor a~ revision of the permitted mining area, nor the disturbance by the Operator of lands outside of <br />the permitted mining area shall alter or diminish the obligations of the Operator and/or Warrantor <br />hereunder, which shall extend to the reclamation of all such lands disturbed. <br />If this Financial Warranty applies to National Forest System lands, and if this Financial Warranty is <br />accepted by the United Brazes Forest Service ("U.S.F.S.') as the bond required under 36 C.F.R 252.13, <br />then the Operator, having requested that the Board and the U.S.F.S. accept this single Financial Warranty <br />in fiat of the separate bonds which would otherwise be required by applicable law, hereby agrees that, <br />notwithstanding any other provision hereof, or of law, this Financial Warranty shall remain in full force <br />and effect until U.S.F.S, has advised the Board by written notice that the Operator's obligatioac to <br />U:S.F.S:, for which this Warranty is exewted, have been satisfied, aced until the financial warranty Las <br />bees released by the Board. <br />If this Financial Warranty applies to lands under the jurisdiction of the State Board of land <br />Commissioners ("Land Board"), and if this Finanaal Warranty, in whole or in part, is accepted by the <br />Land Board as the bond required under its applicable ]aw and procedures, then the Operator, Laving <br />requested tLat the State accept this Financial Warranty in lieu of the separate bonds which would <br />otherwise be required by the Colorado IvTined Land Reclamation Board or Division of Minerals and <br />Geology a~ by the Iand Boazd, hereby agues that, notwithstanding any other provision hereof, or of <br />law, this Financial Warranty shall remain is full force and effect until the Board is notified in writing by <br />the Laced Board that the Operator's obligations to the Land Board, for which this Warranty is executed, <br />have been satisfied, and until the fnancial warranty has bcea released by the Board. <br />