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<br />IV. R~ C?TALS <br />On Permit Number M-1980-037 N,~ wanted to <br />(existing operator) ("Permitter"),pursuant to <br />Larim_r <br />which Permitter has been conducting a training 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 Permitter <br />under the permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by <br />applicable State laws and reeulations has not been completed and is willing to assume full responsibiiiry <br />r"or the completion of the Plan. <br />V. AGidEE1VI1rNTS <br />Permitter and Successor hereby affee, for their own benefit and for the benefit of the State, such <br />agreements to be effective inse facto 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 mitring and reclamation operations to its entire satisfaction and is fully <br />awaze of the conditions thereof. Successor understands and acc.°pts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such <br />plan as to all areas heretofore aisturbed. as well as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Pertnitt~ under the Permit which have not heretofore been performed by <br />Permittee. <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 W arranties. <br />4. Suce~sor represents to the State that io the best of its knowledge, information and belief, it is not <br />in violazion 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 />Pennitt~ and Successor hereby request the State to consent to the assignment of the Permit, to recomize <br />Successor as Successor Operator under the Permit, and to acceat the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the State. <br />