2007-09-13_REVISION - M1979181 - Laserfiche WebLink

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NOW Tk~E'ORE, The conditicna of this abligatim are such that if the operator shall, in conducting such ~NING ... operations, faithfully perform the requiremeita of the recl.miatiai plan, the provisions of the appttnnrtr+. approved by the Mined Ladd ReCl~atim Board, and the canditirns of the permit issued to engage in TUNING operatims by the Mined Land Recl~atian Board, relating to Qie Colorado Mined I~rl Reclamation Act, as amended (1976 Seas Law A.B 1065) and the Rules and Regulations adapted pursuant thereto, upon the Mined Ted Reclamation Board makizg a finding that the l.anda described above, or any portion of such ].ands have been satisfactorily reclaimed and approving the Operator's request for release of this surety on such lands, ~ asry+ portico thereof, thei Chia obligation shall be exonerated and discharged either in fu11 or in part and becrme nu11 and void; other- wise to rain in full force and effect. PROVIDED, Fioce~cs, the operator shall not be liable under this suety agre~t for an ~cait greater 3n the aggregate than the sum designated in the first paragraph hereof, unless increased by a later amendmart to this surety agre®att. This surety agre~t shall be re- viewed by the Board from time. to time, in accordance with the provisions of the Act, and the Board may request an increase in the fie value of this surety agreement to cover increases in the costs of reclamatim. In the event the effective dates of this surety expire before the Board finds the lands describes above to have been satisfactorily reclaimed, then on or before such expiration date the Board shall make a demand for payment on the s~sety submitted to it pursuant to this agre~t to the proper parties and use such funds to perform the necessary recl~atimi operations unless the operator files a substitute surety axeptable to the Mined Iand Reclamatim Board which specifically asswiea Liability for all obligatima fot all TffNING -2-