2007-08-06_REVISION - M2004043 - Laserfiche WebLink

Home Browse Search

-4- circumstances exist: 1. A Ccese and Desist Order entered pursuant to Section 34-32-124 of the Act has beenviolated, and the corrective action proposed in such Order has not been completed, although ample time to have done so has elapsed; or Z. The Operator is in default under its Performance Warranty, and such default has not been cured, although written notice and ample time to cure such default has been. given; or 3. The Operator and/or the Warrantor has failed to maintain its Financial Warranty in good standing av required by tbe Aci; or 4. The Warrantor no longer has fhe financial ability to cazry out its obligations in ancordance with the Act The description oflandsherein is foreonvenience ofreference only, and no error insuch description, noraayrevisionofthe pemritted miming area, nor We disturbance by the Operator of lands outside of Ore permitted mining area shall alter or diminish the obligations ofthcOperator and/or Warratrtnrhereunder, which shall extend to thereclamation ofall suchlands disturbed ffthis Financial Watrantyapplies toNational Forest System lands, and ifthisFinancial Warrantyis acceptedbytheUnited States Forest Service ("U.S.F.S.") as the bond inquired under.36 C.F.R. 228.13, then the Operator, having requested that the Board and the U..S.F.S. accept this single Financial Warranty in lieu of the separate bonds which would otherwiso be required by applicable Ines, hereby agrees that, notwithstandingany other provision hereof; or oflaw, this Financial Warranty shalt retrain in full force and effect until U.S.F.S. has advised the Boazd by written notice that the tperator's obligationsto U.S.F.S., for which this Warranty is executed, have been satisfied, and until the financial warrantyhas been released by the Boazd. ifthis Fimucial Warrantyapplies to ]ands underthe jurisdiction ofthe StateBoatel oflandCommissione~s ("Lead Board"), and if thisFinancial Warranty, in whole or in part, is accepted by the Land Board as the bond required under its applicable lawandprocedures, then rite Opcrafar, having requested that the State accept thisFinancial Warranty in lieu of the separate bonds which would otherwise be required by tho Colorado Mined f,and Reclamation Board or Division of Ivfinerals and Geology and by the Land Board, hereby agues that, notwithstanding any otherprovision hereof, or of law, this Financial Warranty shall reanain is full force and effect until the Board is notified in writing bythe Land Board that the Operator's obligations to the Land Board, forwhich this Warranty is executed, have barn satisfied, and until the financial warzantyhas been released by the Board. If all or any part of the Affected Lands eta under the jtuisdic'tfon of the Bureau of Land Maaagcment, United States Deparhnent of the interior (the "BLM"), and if, at the request of the Operator on this Financial Warranty, the BLM has, pursuantto 43 C.F.R 3809.1-9, accepted Uris Financial Warranty in lieu ofrequiring a separate reclamation bond payable to the United 9mtes, then, notwi0rstanding any other provision of this Fiaaacial Warranty, or of law, the Operator and War~antorbemby agree that this Financial Warrantysball notbereleaseduntilthe Board is advised in writing by rite IILM that the Operator's obligators to the BLM, for whichthis Warrauty is executed,have been satisfied, and until the financial warranty has been released by the Board. This Financial Wazrantymaybe executedin multiple espies, eachofwhich shallbe heated as as original,but togetherthcy constitute only one agreement, the validity and interpretation of which shall be governed by the taws of the State of Colorado. The provisions hereof shall bind and inure to lire benefit of the parties hereto and their successors and assigns.