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-~- <br />IV. RECIT:~LS <br />On Permit Number M-1980-037 µ,~ panted to <br />(existing operator) ("Permittee"),pursuant to <br />Larimer <br />which Pemdtt~ has been conducting a mining operation in the County of ,State <br />of Colorado. <br />2. Permittee wishes to assign the permit to Pioneer Sand Company, Inc. <br />(new operator), as Successor Operator ("Successor") and Successor wishes to become Successor Pennittee <br />under the permit. <br />3. Successor understands that the reciamation elan (the "Plan") required 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. AGILEEMEN'a'S <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective 1DSC acto upon the approval by the State of the transfer of the Permit from <br />Permittee to Successor, as follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully <br />aware of the wnditions 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 completirig 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 Pemilttce under fhe Permit which have not heretofore been performed by <br />Petmittee. <br />3. Successor 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 Permittee, <br />effective upon the release of the latter Warranties. <br />4. Successor represents to the Stae that, To the best of its knowledge, information and belief, it is not <br />in vidlation 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 Colorndo. <br />Permitter and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accent the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the State. <br />