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.;. <br />i <br />-2- <br />NOW, THEREFORE. the Operator hereby promises the Board that it will <br />comply with alt applicable requirements of the Act and rules and regulations <br />of the Board with respect to the Affected lands. <br />FURTHER, the Operator hereby promises the Board that it will Comply <br />with all of the terms of the application Fore permit, ns amended and <br />supplemented, as well as aqy conditions attached to the permit by the Board. <br />Further. the Operator promises the Board, pursuant to 34-32-112 (1)ld} <br />of the Act, that 1t has the Lawful authority to enter upon the Affected lands <br />to Conduct mining operations, including, but not limited to, reclamation. The <br />Operator further recognizes the right of the Board to enter to reclaim lands <br />affected by the operation. <br />the description of ]ands hereto is for convenience of reference only, <br />and no error in such description, nor any revision of the permitted mining <br />area, nor the disturbance by the Warrantor of lands outside of the permitted <br />mining area shall alter or diminish the Operator's obligation hereunder, which <br />shall extend to ~e reclamation of a]] such lends disturbed. <br />The obligation oP the Operator hereunder 1s such that, if the <br />Operator shall successfully comply with the requirements of the Act, <br />applicable rules and regulations, and the permit, then the Board, upon a <br />finding that the Operator has so complied, shall release this performance <br />warranty, and the Dperator from its obligation hereunder, to the extent that <br />thQ Board determines that such compliance has been accomplished. 'fhe <br />obligation of the Operator hereunder shall Continue until released in whole Or <br />in part by the Board in accordance with applicable law. <br />In further satisfaction of the requirements of the Act, the Operator <br />has attached hereto its financial warranty, which may be amended from time to <br />time. The Operator agrees that it will maintain a financial warrenty (or <br />warranties) for the estimated costs of reclamation in good standing for the. <br />entire life of the permit. <br />If the Board determines that the Operator is 1n default under this <br />performance warranty and has failed to are such default, although written <br />notice of such default and ample time to cure such default have been given, <br />the Operator's financial warranty shall be subject to forfeiture. <br />This performance warranty may be executed in multiple copies, each of <br />which shalt be treated as an original, but together th~y constitute only one <br />agreement, the validity and interpretation of which shall be governed by the <br />laws of the State of Colorado. <br />