2002-04-29_REVISION - M1994097 (2)

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-~+- [V. RECIT.4I.S On Seotemb r 1445 Permit Number M 1994097 was granted to Delta Sand and Gravel _Co. (existing operator)("Perntittee"), pursuant to which Pernitfee has been wnductirtg a mining operation in the County of _Mon trose ,State of Colorado. ~ldcastle SW Group, Inc. dba 2. Pennitteewishcstoassignthepermitt0 Ilnited f.nm~niec of Meca ('.nnnty (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 then own benefit and for the benefit of the State, such agreements to be effective j~Q ~¢ upon the approval by the State of the transfer of the Permit from Permittee to Successor, as follows: 1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully awaze of the conditions thereof. Successor understands and accepts all of the conditions of the Perarit. 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 Pemtittee under the Permit which have not heretofore been performed by Pemtittee. 3. Successorherebytenders to the State its attached Performance and Financial Warranties*, which aze to be substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the re]ease of the latter Waaanties. 4. Successor represents to theState that, to the best of its Imowledge, 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. Pernut[ee and Successor hereby request the State to consent to the assignment of the Pemtit, 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.