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-~- <br />CV <br />RECITALS <br />On February 22, 1977 pennitNumber M-1976 =~~~S~mucdto <br />Sterling Redi-Mix Company (existing operator)("Permittee"),pursuantto <br />which Penninee haz been conducting a mining operation m the County of Loa an ,State <br />of Colorado. <br />2. Prnnittcewishestoassignthepcmutto McAtee Construction Co. <br />(new operator), as Successor Operator ("Successor") and Successor wishes to become Successor Pennittee <br />under the permit. <br />V. <br />3. Successor understands lha[ the reclamation plan (thc "Plan") required by the permit and by <br />applicable State laws and regulations has not been completed and is willing [o assume full responsibility <br />for the completion of the Plan. <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective ip~Q fll~t4 upon the approval by the State of the transfer of the Permit from <br />Permittee to Successor, as follows: <br />I . Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully <br />aware of the conditions thereof Successor tmderstands and accepts all of the conditions of the Permit. <br />2. Successor wilt complete the reclamation plan, and hereby assumes liability for completing such <br />plan as to all areas heretofore disturbed, as well as to all areas hacafter disturbed. Successor will perform <br />all of the obligations of the Pemrittee under the Permit which have not heretofore been performed by <br />Permittee. <br />3. Successor hereby fenders 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 State dial, to the best of its I:nowledge, utformation 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 State of Colorado. <br />Permittee 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 Warranties presently on file with the State. <br />