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-4- <br />N. RECITALS <br />1. On ~->n•c'z. \ 2-7 , ~~ Permit Number lit l~~'0 -Z~ was granted to <br />t-b;.,_~-C ~ v.P M Ma~ea_: s. lot 1 /~„.s! (existing opera//t~~or) ("Permittee"), Pursuant to <br />which Permittee has been conducting a mining operation in the County of /-i c-c~u ~ e~ .State <br />of Colorado. p~ ~ ~ p <br />2. Pemrittee wishes to assign the permit to ~~ wr' ~ "~ ~~' ,"L~~~~-~4 <br />(new operator), as Sucossor Operator ("Successor") and Successor wishes m. become Successor Permittee <br />under the permit <br />3. Successor understands that the reclamation plan (the "Plan") requfred 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. ~REEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the Stale, such <br />agreements to be effective i>z~4 fad upon the approval by the State of the transfer of the Permit from <br />Permittee W 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 P.amit <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 />Permittce. <br />3. Succr_ssor 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 Fermina, <br />effective upon the release of the latter Warranties. <br />4. Suaessor represents to thcState drat, to the best of its knowledge, infomration 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 />Perarittee and Successor hereby request the State to consent to the assignment of the Perarit, to recognize <br />Successor as Suocessor Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the State. <br />