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4- <br />1V. RECITALS <br />I. On' c:-May 27 1982 Permit Number M-19-82-015 was granted to <br />Sipgri ct Cnn Gt rnrti nn ('nmpan 3. (existittg operator)("Permittee"), pursuant to which <br />Pemtittee has been conducting a mining operation in the County of Weld , State ofColorado. <br />e~ ` <br />2, Pemrittee wishes to assign the permit to Carma Bayshore LLC (new <br />operator), as Successor Operator {"Successor") and Successor wishes to become Successor Permittee under the <br />permit, <br />3, Successor understands that the reclamation plan ([he "Plan") required by the permit and by applicable <br />State laws and regulations has not bees completed and is willing to assume full responsibility for the complerion of <br />the Plan. <br />V. AGREEMENTS <br />Pern»ttee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective i so facto upon the approval by the Slate of the transfer of the Permit from Permittee to Successor, as <br />follows: <br />1. Successorhas inspected the mining and reclamation operations to its entire satisfaction and is fully awaze <br />of the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will cotnpletethereclamationplan,andherebyassumesliabilityforcompledngsuchplanasto <br />all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perfomt all of the <br />obligations of the Perrnittee under the Petrtrit which have not heretofore been performed by Petminee. <br />3. Successor hereby fenders to the State its attached Performance and Financial Warranties*, which art to be <br />substituted for the Performance and Financial Warranties heretofore filed by the Pemtittee, effective upon the <br />release of the latter Warranties. <br />4. Successor represents to the Stott that, to the best of its knowledge, information and belief, it is not in <br />violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any o[heroperation <br />conducted by it in the Slate of Colorado. <br />Permitter and Successor hereby request the State to consent to the assignmentofthe Permit, to recognize Successor <br />as Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial <br />Warranties in place of the Warranties presently om file with the State. <br />