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-4- <br />IV. RECTTAIS <br />~C,~-O ~ ~j i alJ~ ~ <br />I. On~-*~ Sr".~;~, ~~ Permit Number 1"1')- ~CX~n IJ ~as granted to <br />}~(~XINGI ~U~j7 `( ~e~C7tA~c^11 S (existing opeerator)('Pennittee"),PutsuaattowhichPermittee <br />has been conducting a mining operation in the County of i-~'dn'tl ~t~ .State of Colorado. <br />2. Permittce wishes to assign the permit to ~_ C~a-Q.rG ~ I,I~E~S`~ J-Y1 ~ _ (new <br />operator), as Successor Operator ("Successor") and Successor 'shes to become uccessor Permittee under the <br />permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the petntit and by applicable State <br />laws and regulations has not been completed and is willing to assume full responsibility for the completion ofthePlan. <br />V <br />Pemtittee and Successor hereby agree, for thew own benefit end for the benefit of the State, such agreements to be <br />effective i~ facto upon the approval by the State of the transfer of the Permit from Pemtitteeto Successor, asfollows: <br />1. Successor has inspected the mining and reclamation operations to its entire safisfaction and is fully aware of <br />the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to all <br />areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the obligations of <br />the Pemtittce under the Permit which have not heretofore been performed by Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties*, which are to be <br />substituted for the Perfomumce and Financial Warranties heretofore filed by the Permittee, effective upon the release <br />of the latter Warranties. <br />4. Successor represents to theStaiethat,tothebestofitslmowledge,informationandbelie~itisnotinviolation <br />of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation conducted by <br />it m the State of Colorado. <br />Pernutiee and Successor hereby request the State to consent to the assignment of the Permit, torecognize Successor as <br />Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial Warranties in <br />place of the Warranties presently on file with the State. <br />