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-4- <br />IV. RECITALS <br />1. On .7 /.2 ~ , ~L Permit Number M- / ~/cy/-/~ j was granted to <br />ff: j/y /fiJ~E A.vO .Q~,/n//E .5'71~c R 2 (existing operator) ("Permittee"), pursuant to which <br />Pemrittee has been conducting a mining operation in [he County of E ! f~H-S P> .State of Colorado. <br />2. Permittee wishes to assign the permit to -~ e~ I~ ~~- L ~- (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Pemrittee under the <br />perrit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicable <br />State laws and regulations has not been completed and is willing to assume full responsibility for the wrrq~letion of <br />the Plan. <br />V. <br />Pemrittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective ipso facto upon the approval by the Stale of the transfer of the Permit from Pemuttee to Successor, as <br />follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br />of the conditions thereof. Successor understands and accepts all of the conditions of the Pem>it. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to <br />all azeas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Pertnittee under the Pemit which have not heretofore been performed by Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties', which are to be <br />substituted for the Performance and Financial Warranties heretofore fded by the Pemuttee, effective upon the <br />release of the latter Warranties. <br />4. Successor represents to the State that, to the beat of its Imowledgq information and belief, it is aot m <br />violation of any ofthe provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in [he State of Colorado. <br />Permittee and Successor hereby request the State to consem to the assignment of the Penmt, to recognize Successor <br />as Successor Operator under the Permit, and to accept the tendered substitute Perfotmance and Financial <br />Warranties in place of the Warranties presently on file with the State. <br />17tis form bas been approved by the Mined Land Redamaflon Board pursuant to sections 34-31-119, C.RS., ojthe <br />Mined Land Reclamation Act and 34-325-119, C RS., ofthe Colorado Loerd Reclomation Act jor the Pxtraction of <br />Construction Materials. Any alteration or modification ofthis form skall result in voiding any permit issued on the <br />altered or modijiedjorm and subjeM the operatorto cease axd desist orders andcPoDpenaltiesfor operating without a <br />permit pursuant to sections 34-31-123, C.RS, ofthe Mined Land Reclamation Act and 34-325-123, C.RS., ojrhe <br />Colorado Land Reclamation Act jor the Extraction ojConstruction Materials. <br />