2002-09-13_REVISION - M1994096 (4)

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-~- This Financial Warrarrty shall be subject to forfeiture whenever the Boazd determines that any one or more of the following circumstances exist: 1. A Cease and Desist Order entered pursuant to Section 4-32-124 of the Act has been violated, and the corrective action proposed in such Order has not b n completed, although ample time to have done so has elapsed; or 2. The Operator is in default under its Performance arranty, and such default has not been cared, although written notice and ample time to cure su default bas bean given; or The Operator has failed to maintain its Fig~ancial Warranty in good standing as required by the AcY; or 4. The Fimancial Warrantor no longed/has the financial ability to carry out its obligations is accordance with the Act. The description of lands herein is for conve ' nce of reference only, and no error in such description, nor any revision of the permitted area, nor the disturbance by the Operator of lands outside of the permitted mining area alter or diminish the obligations of the Warrantor andlor the Operator hereunder, which shall end to the reclamation of all such lands disturbed. If this Financial Warranty applies to tional Forest System lands, and if this Financial Warranty is accepted by the United States F est Service ("U.S.F.S.") as the bond required under 36 Q.F.R. 228.13, then the Operator, aving requested that the Board and the U.S.F.S. accept this single Financial Warranty in lieu o the separate bonds which would otherwise be required by applicable law, hereby agrees th notwithstanding any other provision hereof, or of law, this Financia[ Warranty shaft remain ' full force and effect until U. S F. S. has advised the Boazd by written satisfied, and until the financjdl warranty has been released by the Board. If this Financial WarySnty applies to lands under the jurisdiction of the State Boazd of Land Commissioners ("Land oazd"), and if this Fmancial Warranty, in whole or in part, is accepted by the Land Boazd as the bo d required under its applicable law and procedures, then the Operator, having requested that the oazd accept this Financial Warranty in lieu of the separate bonds which would otherwise be req ' ed by the Colorado Mmed Land Reclamation Boazd or Division of Minerals and Geology and by he Land Boazd, hereby agrees that, notwithstanding any other provision hereof, or of law, this F' ancial Warranty shall remain in fiill force and effect until the Boazd is notified in writing by th and Board that the Operator's obligations to the Land Boazd, for which this Wamarrty is executed, ~ ve been satisfied, and until the financial warranty has been released by the Board. If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management, United States Department of the Interior (the "BLM"), and if at the request of the Operator on this Financial Warranty the BLM has, pursuant to 43 C.F.R 3809.1-9, accepted this Financial Warranty in lieu ofrequiring a separate reclamation bond payable to the Umied States, then, notwithstanding arty other provision of this Financial Warranty, or of law, the Operator hereby agrees that this Financial Warranty shall not be released urtril the Boazd,is advised in writing by the BLM that