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r <br />The obligation of the Operator shall continue until the Board has <br />released this Financial Warranty or has ordered it forfeited in <br />accordance with applicable provisions of the Act. It is understood that <br />periods of years may necessarily be required before determination can be <br />made that reclamation of the Affected Lands has been satisfactorily <br />completed. It is also recognized that, as reclamation is accomplished, <br />the amount of this Financial Warranty may be reduced with the approval of <br />the Board so that it reflects the then current estimated cost of the <br />remaining reclamation of ttre Affected lands. No revision, extension, or <br />renewal of the permit, or of the time allowed to complete reclamation, <br />shall diminish the Operator's obligation under this Financial Warranty or <br />under the Oeed of Trust. <br />In any single year during the life of the permit, the amount of <br />the Financial Warranty shall not exceed the estimated cost of fully <br />reclaiming all lands to be affected in said year, plus all lands affected <br />in previous permit years and not yet fully reclaimed. Reclamation costs <br />shall be computed with reference to current reclamation costs. <br />The amount of this Financial Warranty is based upon estimates as <br />to the cost of reclamation, and does not operate to liquidate, limit, <br />enlarge, or restrict tfre Operator's obligations to complete the <br />reclamation, even though the actual costs thereof may substantially <br />exceed the amount of this Financial Warranty. <br />This Financial Warranty shall be subject to forfeiture whenever <br />the Board determines that any one or more of the following circumstances <br />exist: <br />1. A Cease and Desist Order entered pursuant to Section <br />34-32-124 of the Act has been violated, and the corrective action <br />proposed in such Order has not been completed, although ample time to <br />have done so has elapsed; or <br />2. The Operator is in default under its performance warranty, <br />and such default has not been cured, although written notice and ample <br />time to cure such default has been given; or <br />3. The Operator has failed to maintain its Financial Warranty in <br />good standing as required by the Act; or <br />4. The Operator no longer has the financial ability to carry out <br />its obligations in accordance with the Act. <br />The description of lands herein is for convenience of reference <br />only, and no error in such description, nor any revision of the permitted <br />mining area, nor the disturbance by the Operator of lands outside of the <br />permitted mining area, shall alter or diminish the obligations of the <br />Operator and/or the Operator hereunder or under the Deed of Trust, which <br />shall extend to the reclamation of all such lands disturbed. <br />Page 3 of 5 pages <br />