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_q_ <br />IV. BEC11'AI,6 <br />I. On October 5th 1995 permitNt®ber M-1994-114 wasgrarrc~to <br />Arthur L. Nordyke (etristing operate) ("Pamittee^), pursumt to which Permittee has bees <br />condwting a mining opereriw in the Camty of CUS to r State of Colorado. <br />2. Permitteewishestoesaignthepetmitto Kagan & Son, L.L.C. (~, ~a~r) ~ <br />Successor Opcmar ('Stt~var") and Successor wishes to txcome Successor Permitter under t)Y permit <br />3. Successor twderAcouls that the recdematiw plan (the "Picot') required by the permit and by applicable State laws and <br />regulatiws has not Lem owtpleted and is willing to assume full responsibility for the compietiw of the Plan. <br />V <br />Permittx and Succewe hereby agree, fe rhea oav benefit a~ forfhe benefit ofthe State, such agrxmeats to be eflettiveyp~f~q <br />upw the approvat by tlu State of tlx transfer of the Permit from Permittce to Successor, as follows: <br />I. Successwhasiaapoctedtl~minhigamdreclamatiwoper~atiautstoibattiresatisfactiwandisfullyawareoft}xconditioos <br />tharoof. Successor tmderstands e~ acxpts all of t)x couditioma of the Permit <br />2. Suxes.9orwillcwmpletettxreclamatiwplma,andl>erebyassumeytiebilityforcarq~letiogsudtplanastoehe~sheretofore <br />distwbed, ~ well as to sli areas hereafter disturbed Suxea9or will perform ell of the obligations of the Permittee wader the Permit <br />avhich Lave not heretofore Lem performed bq Perndttee. <br />3. Sucassorherebyte~astotheSiateitsatlachedPerfocmaaceaadFinmcielWafranties~.whicharetobesubstiauedfccthe <br />Performance and Finaceial Wmranties herctofac Sled by the Pmnittx, cfl'ective upon the release of the latter Wcoraoties. <br />4. SuxesaornepteseattstotheStatethat,tot)xbeslofitalatowledge,i~'ormetionaalbelie~itiswtinviolatiwofanyofthe <br />ptwisia®soft>x Colorado Mined Landreclametion Actwith respect to any caber operation conducted by h in the Stale of Colorado. <br />Permittee end Suceesse heraby request the State to consent to the assignment of the Permit, to recognize Successor as Successor <br />Operator tinder the Permit, cod to accept the tendered substitute Performcotce and Fiomciel Warranties in place of the Warranties <br />prrsentty m file with the Slate. <br />