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-4- <br />IV. RECITALS <br />I. On ~~/ l ~ . J9q ~ Permit Number '~ R~ '~ was gamed to <br />[,tJIM~LS51t~ A164T'NE~AI I u L. (existing operator) !"Permittee"), puisuant to <br />which Pennittee has been conducting a mining operation in the County of R"IOFFAT .State <br />of Colorado. <br />2. Permittee wishes to assign the permit to Lafarge west, Lnc. <br />(new operator), as Successor Operator ("Successor') and Successor wishes to become Successor Permittce <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 />Permittee and Successor hereby agree, for the'v own benefit and for the benefit of the State, such <br />agreements to be effective jp~ a o upon the approval by the State ofthe transfer of the Permit from <br />Pennittee to Successor, as fotlows: <br />1. Suwessor has inspected the mitring and reclamation operations to its entire satisfaction and is fully <br />aware ofthe conditions thereof. Successor understands and accepts all ofthe conditions ofthe Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completitig such <br />plan as to all areas heretofore disturbxd, as well as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Pemrittee under the Pemut which have not heretofore been performed by <br />Permittce. <br />3. Successor hereby tenders to the State its attached Performance and Financial Watranties~, which <br />are to be substituted for the Performance and Financial Warranties heretofore filed by the Permittee, <br />effective upon the release of the latter Warranties. <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 ofthe provisions of the Colorado Mined [,and reclamation Act with respect to any other <br />operation conducted by it in the State of Colorado. <br />Pemrittee and Successor hereby request the State to consent [o the assignment ofthe Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place ofthe Warranties presently on file with the State. <br />