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<br />-4- <br />N. RECIT.AI,S <br /> <br />1. On April 29 1986 Permit NumberM-1985-21 wasgrantedto <br />Nei 1 Sprague (existing operator) ("Perini ee'"), pursuant [o <br />which Permittee has been conducting a mining operation th the County of Lar imer ,State <br />of Colorado. <br />2. Permittee wishes to assign the permit to Arkins Park Stone Corporation <br />(new operator), as Successor Operator ("Successor") and Successor wishes to become Su cessor Pemuttee <br />under the peratit. <br />3. Successor understands that the reclamation plan (the "Plan") required by th~ permit and by <br />applicable State laws and regulations has not been completed and is willing to assume !1 responsibility <br />for the completion of the Plan. <br />V. AGREEMENTS <br />Pennittee and Successor hereby agree, for they own benefit and for the benefit of the State, such <br />agreements to be effective iAtz4 facto upon the approval by the State of the transfer of a Permit from <br />Permittee to Successor, as follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfac on and is fully <br />aware of the conditions thereof Successor understands and accepts all of the condition of the Pemtit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for mpleting such <br />plan as to all areas heretofore disturbed, as well as to all areas hereafter distwbed. Succes r will perform <br />all of the obligations of the Permittee under the Permit which have not heretofore b performed by <br />Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial W anties', which <br />are to be substituted for the Performance and Financial Warranties heretofore filed the Permittee, <br />effective upon the release of the latter Warranties. <br />4 Successor represents to the State that, to the best of its lo[owledge, information and~belief, it is not <br />N violation of any of the provisions of the Colorado Mined Land reclamation Act with resp ct to any other <br />operation conducted by it in the State of Colorado. <br />Pennittee and Successor hereby request the State to consent to the assignment of the P t, to recognize <br />Successor as Successor Operaor under the Permit, and to accept the tendered substitute P ormance and <br />Financial Warranties th place of the Warranties presrntly on file with the State. <br />