2007-01-02_REVISION - M1984001 - Laserfiche WebLink

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3- The obligation of the Operator shall continue until the Board has released this financial warranty orhas ode.red it forfeited in accordance with applicable provisions of the Act. It is rmderstood that periods ofyems may nue%arily be requaedbefore determination can be made that reclamation ofthe Affected Lands has been satisfactorily completed h: is also recognized that, as reclmnation is atxomplished, the amount of this financial warranty may be reduced with the approval of the board so that h reflects the then current estimated cost of the remaining reclamation of the Affected Lands. No revision, extension, or renewal of the penrrit or of the time allowed to e~nplete reclamation shall diminish the Operator's obligation under this Financial Warranty. Upon completion ofreclametion by the iperator, and if the Board Ends the reclamation satisfacxary,the Board shall release the Financial Werramy and reuse the state treasury to issue a check payable to the Operator in the amount of the orighral Financial Warramdy mud to include all accrued interest. In mry single year during the life of the permit, the amoum of the Financial Warranty shall not excced the estimated cost offully reclahning all lands to be affected in said year, Plus all Imrds affectedmprevious peratityears and not yet fully reclaimed. Reclamation costs shell be computed with reference to current reclamation costs. The amount of this Financial Warranty is based upon estimates as to >he cost of rechunation, and does not operate to liquidate, Iimit, enlarge, or restrict the Operator's obligations to complete the reclamation, even though the actual costa thereof may substamielly exoeed the anvwmt of this Financial Warranty. This Financial Warranty shall be subject to forfeiture whenever tlu Board determines that any one ormare ofthe following tiramusta>ras exist; 1. A Cease and Desist Older entued pursuant to Sectio®34-32-124 oftheAdhas baaviolated, and the camoctive action proposod hr such order bas ~ been completed although ample time to have done so has elapsed; or 2. The Operator is in default rmder its Performance Waaanty, s~ sudr det>iult has not beeneraed although written notice and ample lieu to cure such default has bees given; ~ 3. The Operataa' has failed to maintain its Financial Warranty in good stmrding as required by the Act; or 4. The Operatoa no longer has the financial ability to carry out its obligations in accordance with the Act. The descripti~ of lands herein is for conveaienoe of reference only, and no error in such destaiption, am any revision of the permitted mining area, nor the disturbance by the Operator of lands outside ofthe permitted mining area shall ahet or diminish the obligations of the Operator hereunder, which shall extend to the reclamation of all such lands disturbed. If this Financial Warranty applies to National Forest System ]ands, and if this Financial Warranty is aocepled by the United States Farr~t Service ("U.S.F.S.'~ as the band required under 36 C.F.R 228.13, then, the Operator having requested that the Board and the U.S.F.S. accept this single Financial Warranty in lieu of the separate bonds which would otherwise be required by applicable law, hereby agrees that, notwithstandmg mry otherprovision hereof, orofhtw, this Financial Warranty shall remain in full force and effect until U.S.F. S. has advised the Board by written notice that the Operator's obligations to U.S.F.S, fa which this warranty is executed have been satisfied and until its release has been approved by du Board.