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;~ <br />.q. <br />N. RECITALS <br />1. On ~~(a +e~xs.. ¢-ti 2`E lg~ Permit Number V~"~ l~$ 3 'O~was granted to <br />l owrC~1 tir-r_s I~1.c ~e r~ccLS i ~ nc . (eeisting operator) ("Permittee"), pur;uaat to <br />which Permittee has been conducting a mining operation in the County of ~"l6u-~2 z--~ w~a. ~„ State <br />of Colorado. n <br />Oldie-a~~e SC.~1 G~~tS,~c, .~5~~ <br />2. Permittee wishes to assign the permit to 'Feu-S ~' ~1 C- u e t~ (IUa~P d` mac. Q S t <br />{new operator), as Suxessor Openua C'Successor") and Successor wishes to become Successor Pemrittee <br />under the permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by <br />applicable State laws and regulations has not been completed and is willing to assume full responsibility <br />for the completion of the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective q~ ~4 upon the approval by the State of the transfer of the Permit from <br />Petmittee to Successor, as follows: <br />1. Successor has inspected the mining and reclamaton operations to its entire satisfaction and u fully <br />aware of the conditions thereof Successor understands and accepts all of the conditions of the permit. <br />2. Successor will wmplete the reclamation plan, and hereby assumes liability for completing such <br />plan as to all areas heretofore disdnbed, as well as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Permittee under the Permit which have not heretofore been performed by, <br />Permittee. <br />3. Suaxssor hereby tenders to the State its attached Performance and Financial Warranties', which <br />aze to be substituted for the Performance and Financial Warranties heretofore filed by the Pesmittee, <br />effective upon the release of the latter Warranties. <br />4. Successor represents to thtState that' to the best of its knowledge, information and belief, it is not <br />in violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to art' other <br />operation conductcd.by it in the State of Colorado. <br />Pennittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accept the tendered substintte Performance and <br />Financial Warranties in place ofthe Warranties presently on file with the State. <br />