2004-12-21_REVISION - M1985008 (2)

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STATE OF COLORADO ~~ DIVISION OF MINERALS AND GEOLOGY Department of Natural Resources ^~~ 1313 Sherman $t., Room 215 ~ REC EI VED /~ F D I V I S I O N O F 'Denver, Colorado 80203 q q~nqq FAXn (303) 8)38 68 1 0 66 7 MAR ~ L 200L 6y /~~~ds~°~pSFO M I N &RA L S Geoff GEOLOGY ~~ ~ RECLAMATION DivisianofMineralsandGeology N i MINING•SAFETY Amendment No. 1 ~ aill Owens Governor FINANCIAL WARRANTY AND CONDITIONAL PROMISSORY NOTE Greg E. watcher Executive Director FOR THE USE WITH DEED OF TRUST Michael B. Long Division Director Operator Operation Permit No. ~- ~~~j~Ut7$ KNOW ALL MEN BY THESE PRESENTS, THAT: WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S. 1973, 34-32-101 et se (the "Act"), as amended, provides that no permit may be issued under the Act until the Mined Land Reclamation Board (the "Board") receives a Financial Warranty (or Warranties)a~s^ydescri//bed~i^n the /AC/t~. /~ WHEREAS. CI VIGthQn Gi G1hd /°C ~f_~QYIQ IIItr.YT7N PZ (the "Operator"), a ~v 1 uG-~~ p~.r'~~l /1~bn, has appli~ed for a permit to conduct a mining operation krn'ow~as ~COn~°Gf1~Ne(' ~(U°~' (the "Operation"), on certain lands in F7U2/,~ya7 County, Colorado. These lands are described in the permit application, as amended and supplemented, and are referred to herein as the "Affected Lands". WHEREAS, as part of the application for the permit, the Warrantor has agreed to be bound by all requirements of the Act and all applicable rules and regulations of the Board, as amended from time to time. WHEREAS, in its application for the permit, the Operator has agreed with the State to provide for reclamation of the Affected Lands that are now, or may become, subject to the permit, as required by law. WHEREAS, the Board has determined, in accordance with the Act, that the estimated costs of reclamation of the Affected Lands are those amounts for the stated periods of time as set forth herein. Said amount may be amended from time to time to reflect revised estimates of said costs of reclamation. WHEREAS, the Operator, in accordance with the Act, has promised and hereby promises the Board that it will be responsible for all of the estimated costs of reclamation with regard to the Affected Lands. WHEREAS, the Board has determined that the Financial Warranty by the Operator equals the estimated costs of reclamation, as approved by the Board, with regard to the Affected Lands.