2002-04-29_REVISION - M1980022 (2)

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-a- N. RE T. i 1. On Fahryary 7 1987 Permit Number M 79An1777 was granted to Ilnitari Cmm~ariiaa of Mcca_ fnunty, Tnr (existing operator)("Permittee"),pursuantto which Permittee has been conducting a mining operation in the County of Mesa ,State of Colorado. ' Oldcastle SW Group, Inc. dba 2. Permittee wishes to assign the permit to Iln; tai Companies of Masa Ceunt~ (new operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under the permit. 3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicable State laws and regulations has not been completed and is willing to assume full responsibility for the completion of the Plan. V. AGREEMENTS Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be effective ip.~4 ~2 upon the approval by the State of the transfer of the Permit from Pemrittee to Successor, as follows: 1. Successor has irrspccted the mining and rec]amatiom operations to its entire satisfaction and is fully aware of the conditions thereof. Successor understands and accepts al! of the conditions of the Pemtit. 2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to all areas heretofore disturbed, as well as to all azeas hereafter disturbed. Successor will perform all of the obligations of the Pennittee under the Pemilt which have not heretofore been performed by Permittee. 3. Successor hereby tenders to the State its attached Performance and Financial Warranties*, which are to be substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the release of the latter Warranties. 4. Successor represents to theState that, to the best of its lorowledge, information and belief, it is not in violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation conducted by it in the State of Colorado. Permittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize Successor as Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial Warranties in place of the Warranties presently on file with the State.