2007-10-18_REVISION - M1982020 (3)

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the amount and duration of this financial warranty. The Operator snail have sixty (60) tlays after the date of notice of any such adjustment to fulfill all new requirements. The Operator shall notify the Board immediately of any event which may impair this financial warranty. If the Board receives such notice or otherwise has reason to believe tnat this financial warranty has Dean materially impai red• it may convene a nearing in accordance with the Act for the purpose Of determining whether impairment has occurred. The obligation of the Sank Shall Continue until released in writing by the Board in accordance with applicable laws specifying financial warranty release procedures. The Board may present for payment any certificate of deposit neld hereunder and convert the same to cash if the Board oat ermines that reclamation which ought to have been performed Dy the Operators Or its suCW55prs of asst gn Ss remains unperformed. No other condition precedent need De fulfilled to entitle the Board to receive the amount of any such certificate. Nowever• if upon completion of such recla- mation by the 9oard the cost of reclamation shall be less Loan the amount reCeiveo from the Banks the excess shall be promptly refunded to the Operator. The obligation of the Operator shall continue until the Board has released this financial warranty or has ordered it forfeited in accordance with appl icaole provisions of the Act. It is understood that periods of years may neces- sarily be required before determination can be made tnat reclamation of the Affected Lanos has been satisfactorily Completed. It is d150 reCOgniZed thdts a5 reCldmdtiOn is dCCOmplished• the dmpUnL Of tots financial Mdrrdnty may be reduced with the approval of the Board so that it reflects the then current estimated cost of the remaining reclamation of the Affected Lands. No revision. extension. or renewal -3-