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_4. <br /> IV. RECITALS <br /> 1. On June 16 1980 Permit Number M-78-208 was granted to <br /> L.N. Properties, Inc. <br /> (esistin.o operator) ("Permittee"), pursuant to <br /> which Pem»ttee has been conducting a mining operation in the County of Jefferson State <br /> of Colorado. <br /> 2. Permittee wishes to assign the permit to Aspen Enterprises <br /> (new operator),as Successor Operator("Successor')and Successor wishes to become Successor Permittee <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, AGREEMENTS <br /> Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br /> agreements to be effective j=facto upon the approval by the State of the transfer of the Permit from <br /> Permittee to Successor,as follows: <br /> 1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully <br /> aware of the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br /> 2. , Successor will complete the reclamation plan,and hereby assumes liability for completing such <br /> plan as to all areas heretofore disturbed,as well as to all areas hereafter disturbed. Successor will perform <br /> all of the obligations of the Permittee under the Permit which have not heretofore been performed by <br /> Permittee. <br /> 3. Successor hereby tenders to the State its attached Performance and Financial Warranties*,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 lmowledge,information and belief, it is not <br /> in violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other <br /> operation conducted by it in the State of Colorado. <br /> Permittee and Successor hereby request the State to consent to the assignment of the Permit,to recognize <br /> Successor as Successor Operator under the Pere it,and to accept the tendered substitute Performance and <br /> Financial Warranties in place of the Warranties presently on file with the State. <br /> I <br />