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-4- <br />IV. RECITAi,S <br />1. On M Q y ! 9 q O Perttti[ Number N~- t Q Q ~ -05 ~ was granted to <br />JJ i <br />~ ~ 0.O ~/ ~ 1 I E M.. ~ ~ ,,, r5 ~ M ~ I I ~ ~ Qr r-0 ~ (existing operator) ("Perrnittee"), pursuant to which <br />Perntittee has been conducting a mining operation in the County of l_ A ke, ,State of Colorado. <br />2. Permitter wishes to assign the permit to C-A ~ ~ "l q 1 CTm ~ o ~ f TQ"1 i o /l (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Suc~ sor Permittee under the <br />permit. <br />3. Successor understands that the reclamation plan (the "Plea") required by the pemtit and by applicable <br />State laws and regulations has not been completed and is willing to assume full responsibility for the completion of <br />the Plan. <br />V. AGREEMENTS <br />Permitted and Successor herdbyagree, for their own benefit and for the benefit ofthe State, such agreements to be <br />effective ipso far upon the approval by the State of the transfer of the Pemvt from Permittee to Successor, as <br />follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br />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 plan as to <br />all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Permitee under the Permit which have not heretofore been performed by Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financia! Warranties', which are ro be <br />substituted for [he Performance and Financial Warranties heretofore filed by the Pemtittee, effective upon the <br />release of the latter Warranties. <br />4. Successor represents to the State the; :o the best of its knowledge, i~dormation.end belief, it is not vi <br />violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />-Pennittee-'~ Successo~lieTeby ieques[ the State [o consent to the assignment offhe Pemtit, to recognize Successor <br />as Successor Operator under Ute Pemti; and to accept the tendered substitute Perfomrartce and Financial <br />Warranties in place of the Warranties presently on file with the State. <br />