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-4- <br />IV. RECITALS <br />l . orr Demo (3 E(L (9 . ~ Permit Number I/ I-ZOOS -~ ytGas granted to <br />Uai Co ~ N C . (existing operato/r~) ("Permittce"), ptusuant to which <br />Pemuttee has been conducting a n»ning operation in the County of _ ~!}S A Ntns A i ,State of Colorado. <br />2. Permittee wishes to assign the pemtit to 1~a/JAb~eS Gle Jd; l)~~ RQyS~i~DU~y lJC , (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Petmittee under the <br />pemit. <br />3. Successor understands that the reclarntion plan (the "Plan") required 6t' the permit and by applicable <br />State laws and regulations has not been completed and is willing to assume fW1 responsibility for the completion of <br />the Plan. <br />V. AGREEMENTS <br />Pemrittee and Successor hereby agree, for their owv benefit and for the benefit oftbe State, such agrcetrrents to be <br />effective ~ fro upon the approval by the State of the transfer of the Pemdt from Pemtittee [o Successor, as <br />follows: <br />1. Successor has inspected the rmniog and rechuntion operation to its entire satisfaction and is fully aware <br />of the condition thereof. Successor understands and accepts all of the condition of the Permit. <br />2. Successor will completethereclamationphtn,andherebyassutnesliabilityfarcorrrpktiogsuchplanasto <br />alt areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Permittee under the Pemdt which have not heretofore been performed by Pettnittce. <br />3. Successor hereby tenders [o the State its attached Perforrrtanct and Financial Warranties*, which are to be <br />substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of the latter Warranties. <br />4. Successor represents to the State that' to the best of its knowledge, Wotmation and belief, it is not m <br />violation of any of the provision of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />Pemtittee and Successor hereby request the State to consent to the assigrmrent of the Permit, to recognise Successor <br />as Successor Operator under the Permit, and to accept the tendered substitute Perforrtrance and Financial <br />Warranties in place of the Warranties presently oe fik wilt the State. <br />