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G~~~ <br />~,~ ~ o <br />!rte <br />DIVISIOM1 OF AtINERAL~ >~D GEOLOGY <br />'~'I l.llllnPnl n. \.V UL11 ric.. ~~... <br />.. ~ ; 5hrrm.r...I d,nlm . . <br />~~. ~ lo~~ au saes <br />STATE c'F COLORADO <br />FINANCIAL W.4RRANTI' <br />N 1a Zooo <br />RE~~~vEc <br />A <br />otV~ono`Mt~~&~epw9Y <br />CHECK FOR DEPOS[T i*1 STATE TREASURY <br />~\~ <br />DI~IS'ON ~~ <br />~tIVERAL~ <br />GEOLOGI <br />~ E C L A n A r l p <br />"I NING•$AfEi~ <br />.:. iMYn, <br />l,J•CmW <br />.:arc i. :'. a.~ner <br />E.ecwne ~.~eaor <br />•4cnpei ti Loeq <br />~~....on ~ neUnr <br />Operator American Soda LLP <br />Operation Yankees Gulch Snc9;Lan M;n als Project <br />Permit No. M-99-002 Check No. 6597 <br />F:NOW ALL MEN B5' THESE PRESENTS. THAT: <br />WHEREAS. [tie Colorado Mined Land Reclamation Act C.R.S. 1973, 3~1-32-101 et sec. (the "Act"), az <br />amended provides thaz no permit may be issued under the Act until the Mined Land Reclamation Board (the "Board") <br />receives a fmancial wananty (or warranties) az described in the Act. <br />W~~,qS, American Soda LLP (the "Operator), a i.;m; tfrt i.iabi l; tv <br />corporation. haz applied for a permit to conduct a minin¢ operation known az Yank ..1 h 4od; en M, nera~e Project <br />"Operation"), on certain lands in Rio Blanco County, Colorado. These are described in the permit <br />application, az amended and supplemented, and are referred to herein az the "Affected Lands". <br />WHEREAS, in the application for the permit the Operator has a~eed to be bound by all reauiremena of the <br />Act and all applicable rules and re:ulations of the Board, as amended from time to time. <br />WHEREAS. in the application for the permit the Operator has agreed with the Board to provide for reclamation <br />of the Affected Lands. that are now or may become subject to the permit az required by law. I., t <br />WHEREAS. the Board has determined in accordance with the Act that the estimated costs of reclamation of the <br />Affected Lands are those amounts for the stated periods of time az set forth herein. Said amount may be amended from <br />time to time [o retlect revised estimates of said costs of reclamation. <br />WHEREAS, the Board has determined that the financial warranty by the Operator equals the estimated cosu <br />of reclamation. az approved by the Board, with re¢ard to the Affected Lands. <br />WHEREAS. the Operator. in acmrdartce with the Act has promised and hereby promises the Board that it will <br />be responsible for all of the estimated costs of reclamation with regard to the Affected Lands. <br />WHEREAS, az proof of its financial responsibility [he Operator has proceeded pursuant to <br />Section 34-33-117(3xal ofthe Act and has executed a personal check, business check, cashier's check. or certified check <br />No. ~co~_ vvable to the Mined Land Reclamation Board in the amount of one htmdred dollars <br />(S 1~9,~ ~• <br />