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~~i <br />-a- <br /> <br />N. RECITALS ~./98'L-/40 <br />1. On ~c~obrw- 1/ , 2Q Q~ Pemut Numb was granted to <br />t}abt~l&2$AiP6AT ~,t/o~C~kAJEL /ale (esistingoperator)("Perminee''),pursuantto <br />which Permittee has been conducting a mining operation in the County of ~1~ K ,State <br />of Colorado. <br />2. Permittee wishes to assign the permit to ~A ~ ~~~ ~ TH ~ ~ '~'~ ~fDf„E <br />(new operator), as Successor Operator ("Successor") and Successor wishes to become Successor Pennittee <br />under the pertrrit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by <br />applicable State laws and regulations has not been completed and is willing to assume full responsibility <br />for the completion of the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective ipso X4.4 upon the approval by the State of the transfer of the Pemut from <br />Permittee to Successor, as follows: <br />1. Successor has inspectedtheminingand reclatrration operarions to its entire satisfaction and is fully . <br />aware of the conditions 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 completing such <br />plan as to all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Permittee under the Permit which have not heretofore been performed by <br />Pertnittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties*, which <br />aze to be substituted for the Perfomrance and Financial Warranties heretofore filed by the Permittee, <br />effective upon the release of the latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, infonnation and belief, it is not <br />ut violation of any of the provisions of [he Colorado Mined Land reclamation Act with respect to any other <br />operation conducted by it in the State of Colorado. <br />Peanittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successar Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on fiie with the State. <br />