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_4. <br />IV. RECITALS <br />I . On n~] ~2_,~ Permit N»mbet /~ t ' ~9SI'" S~f" was granted to <br />1A :G i.. a ~Frln CA[u+. „" (existing operator) ("Pemrittce"). pursuant to which Permittce has been <br />conducting a mining operation in the County of W4_~~ ~~ ' /~ State of Colorado. <br />2. Pemilttce wishes to assign the permit to ry~ Sov~ tC' n `f (new operator), as <br />Successor Operator ("Successor") and Successor wishes to become Successor Permittce under the pervtit <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicable State laws end <br />regulations has not been completed and is willing to assume full responsibility for the completion of the Plan. <br />V. AGREEMENTS <br />Permittce and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be effective ~~ <br />upon the approval by the State of the uaasfer of the Permit from Pennittce to Successor, as follows: <br />I . Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware of the conditions <br />thereof. Successor understands and accepts all of the conditions of the Permit <br />2. Successor will complete the reclamation plan, and hereby assumes liability for cotaPl~g such plea es to all areas heretofore <br />disturbed, as well as to all areas hereafter disurbed. Successor will perform all of the obligations of the Permittce under the Permit <br />which have not heretofore been performed by Permittee. <br />3. Sum hereby tenders to the State its attached Performance end Financial Warranties'. which areto be substituted for the <br />Performance and Financial Warranties heretofore Sled by the Petmittee, effective upon the release of the latter Warranties. <br />4. Successor represents to the State tha; to the best of its }mowledge, information and belief, it is not in violation of atry of the <br />provisions ofthe Colorado Mined Land reclamation Actwith respect to any other operation conductedby ii in the State of Colorado. <br />Permittee attd Successor hereby request the State to consent to the assignment of the Permi; to recognize Successor as Successor <br />Operator under the Petmi; end to accept the tendered substitute Perfomrance and Financial Warranties in place of the Warranties <br />presently on file with the Sie[e. <br />