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-4- <br />IV. RECITALS <br />I. On 3~5~ l9Y 9 Permit Number /rl -19%/-D3S was granted to <br />(,U ~ Sim?N t~'1061 L.C , l i(/C~. (existing operator) !"Pemtittee"), puisuant to <br />which Permittee has been cmrductittg a mining operation in the County of J 6GGERsD N .State <br />of Colorado. <br />2. Petmittce wishes to assign the permit to Marge west, inc. <br />(new operataw), as Successor Operator ("Suceessor") and Successor wishes to become Suceessor Permittce <br />under the permit <br />3. Successor understands that the reclamation plan (the "Phm'~ 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 completiom of the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective jp~Q a o upon the approval by the State of the transfer of the Permit from <br />Permittee to Successor, as follows: <br />1. Successor has mspeded the mining and neclarrtation operations to its entire satisfaction and is fully <br />aware of the conditions 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 dishnbed, 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 bcen performed by <br />Pemtittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warrantless, which <br />are to be substituted for the Performance and Financial Waranties heretofore filed by the Petmittee, <br />effective upon the release of the latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, information 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 Slate of Colorado. <br />Pertnittee 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 accept the tendered substitute Performance and <br />Financial Warranties in place of the Waran[ies presently on file with the State. <br />