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•4- <br />IV. R'nCTTALS <br />pn December 19. 1979 <br />Permit Number M-19 7 9-189 <br />was granted to <br />erior S&G c/o Rio Grande Co. (existing operator)('Permittee"), pursuanttowhichPamittee <br />has been conducting a musing operation in the County of Arapahoe ,State of Colorado. <br />2. Permittee wishes to assign the permit to Rio Gr ands Co . (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permiuee under the <br />permit <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicab]e State <br />laws and regulations has not been completed and is willingto assume full responsibilityfor the completion ofthePlan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective ]USO facto upon the approval by the State of the transfer of the Pemait from Permitteeto Successor, as follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware of <br />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 suchp]an as to all <br />areas heretofore disturbed, as well as to all areas hereafter disttrbed. Successor will perform all ofthe obligations of <br />the Permittee under the Permit wfiich have not heretofore been performed by Permittee. <br />3, Successor hereby tenders to the State its attached Performance and Financial Warranties*, which are to be <br />substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the release <br />ofthe latter Warranties. <br />4. Successor represents to the State that, to the best of its lmowledge, information andbelie~ it isnot inviolation <br />of any of the provisions of the Colorado Mined Land reclamation Act with respect to a~ other operation conductedby <br />i*. in the State of Colorado. <br />Pennittee and Successor hereby request the State to consent to the assigimment of the Permit, torecogoize Successor as <br />Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial Warranties in <br />place of the Warranties presently on file with the State. <br />