2005-04-05_REVISION - M1978287 (3)

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-4- rv. ttecrrALs 1. On 5 October - 1981 Permit Number M1978-287 wasgra~to VALCO. Gunnison Concrete Division (e~ristingoperator)("PermitDee"),p~asuatttWwhich Permitlee here tern conducting a minimg operation in the County of Gunnison State of Colorado. 2. Pe:mittce wishes to ensign the permit to Varra Companies. lnc. (new operator), as Successor Operator ("Saccessar") a~ Stxceasor wishes to become Successor Permittce ender the permit 3. Strc«saor undersmttds that the reclamation plan (the "Phm'~ required by the pert a~ by applicable Stare laws and negttlations has ~t been corr~L:ced and is willing ro assume fill responsibility forthe comph:tieaof the Plan. V. Permittce and Strocessor hereby agree, 6x theirown benefit and for the be~frt ofthe State, such agreement to be effective iQag ~ upon the approval by the State of the transfer of the Pennrt from Permittce to Successor, as follows: 1. Suooeasorhasiaspec0edthe®uinga~recla>mtionopera4oastoitaentireastisfactianaodisfullyawaee of the coaditiom thereof Sttceessoc ®dersmnds and accept all of the conditions of the Permit 2. Sucomeaawillcomgtletetheroclanmdonplan,mdherebyeasamtesliabilityfmca®pletiogsuchplanasto all areas heretofore disturbed, as well as to all areas hereafter dishnbed. Sttccessar will perform all of the obligations of the PermLLtx under the Permit which have sot heretofore been performed by Permittee. 3. Suwesvorlxcebytendvatotl~StateimattachedPerfasmenoeaudFiaancialWamntiev',w)>ticharetobe snbstihrted fa the Performance a~ Financial Warrantip htremfurc filed by llte Permittee, effecti~ upon the release of the latter Warranties. 4. Successor repreaeab to fire State that, ib the best of its iuowhalge, information and belief it is rot in violation of any of th a provisicna of the Colorado Mined Land reclamation Act with respect to any other operation conducted by it in the State of Colorado. Perrmttee and Suocessor hereby regoes[the Stage ro Ito the assigonrmtofthe Permit, torxogaiza Snceesaor as Successor Operator under the Perrot, a~ m accept the tendered snbstiatse Performance and Financial Warramies in phtce of the Wamnties presartly on Sle with the State. Tkls john has been opproxd by tbeMined land RedanaBoa Boardparsaanl to aeratotw 3I-3J-119, GRS, ojrke MlaedLaad Rorlaa~foa Ad and 3~-3~5-119, C.RS, ojI/ttColarndo Land l2orlawarloe Adfo-rheF.wrnedae of CoastradloaMarerdab. AeyalleraslsaoraallJlcaBoaojMdajorarshaUrtaa(riawiAinaaayptnw~ttsaaedoaWe abered ormodlJkdjarm sad rarbjedlbaaps~ortn sense aadJeaial orders sad dtod paraHfeajoropemtYwg whlwuta penalrparaaaaras serYteas3F31-1?3, CES, ajdeMbrodLaadReefieratlowAdaed 3#d23-133, C.ILS, ojrlte Colorado LaadRcelwaadoa Ad for fbe F.xaradloa ojCorrsnaerloa Materials.