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<br />-a- <br />IV. <br />RECITALS <br />On Tl~e . ~q78 Permit Number M-~A-~nA was granted to <br />*~t =oriCon*ractnrs, Inc (existing operator) ("Permittee"), pursuant to <br />which Permittee has been conducting a mining operation in the County of .t~>ffPrG.,~ .State <br />of Colorado. <br />2. Permittee wishes to assign the permit to Aspen 17tt~spr ises <br />(new operator), az Successor Operator ("Successor") and Successor wishes to became Successor Permittee <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 <br />AGREEMENTS <br />Permittee and Successor hereby agree, for they own benefit and for the benefit of the State, such <br />agreemenu to be effective j~Q ct upon the approval by the State of the transfer of the Permit from <br />Permittee to Successor, az follows: <br />l . Successor has inspetxed the mining and reclamation operations to its entire satisfaction and is fully <br />aware of 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 <br />plan az to all areas heretofore disturbed, az well az to all areas hereafter disturbed Successor will perform <br />all of the obligations of the Pernittee under the Permit which have not heretofore been performed by <br />Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warrarties•, which <br />aze to be substituted for the Performance and Financial Wartattties heretofore filed by the Permittee, <br />effective upon the release of the latter Waranties. <br />4. Successor represents to the State 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 any other <br />operation conducted by it in the State of Colorado. <br />Permittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor az Successor Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the State. <br />lni~:. <br />