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4- <br />If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land <br />Commissioners ("Land Board"), and if this Financial Warranty, in whole or in part, is accepted by the Land <br />Board as the bond required under its applicable law and procedures, then, the Operator having requested that <br />the state accept this Financial Warranty in lieu of the separate bonds which would otherwise be required by the <br />Colorado Mined Land Reclamation Board or Division of Minerals and Geology and by the Land Board, hereby <br />agrees that, notwithstanding any other provision hereof, or of law, this Financial Warranty shall remain in full <br />force and effect until the Board is notified m writing by the Land Board that the Operator's obligations to the <br />Land Board for which this warranty is executed, have been satisfied and until its release is approved by the <br />Board. <br />If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management, <br />United States Department of the Interior, ("the BLM") and if at the request of the Operator on this Financial <br />Warranty the BLM has, pursuant to 43 C.F.R 3809.1-9, accepted this Financial Warranty in lieu of requiring <br />a separate reclamation bond payable to the United States, then, notwithstanding any other provision of this <br />Financial Warranty, or of law, the <br />Operator hereby agr~s that this Financial Warranty shall not be released until the Board is advised in writing <br />by the BLM that the Operator's obligations to the BLM, for which this warranty is executed, have been satisfied <br />and until its release is approved by the Board. <br />This Financial Warranty may be executed in multiple copies, each of which shall be treated as an <br />original but together they constitute only one agreement, the validity and interpretation of which shall be <br />governed by the laws of the State of Colorado. <br />The provisions hereof shall bind and inure to the benefit of the parties hereto and their successors and <br />assigns. <br />Signed and dated this 10th. day of Mav 2002 <br />(S~-) <br />By: Mining & Minerals, Inc., General Partner <br />Title President <br />