2003-05-14_REVISION - M1986015 (2)

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rn ~l<<~~~4~~tvlLl~ N. RECTT:~LS I t '~ 1. On November~l 2 1 986 permitNumher M-1 986-01 5 was granted to Transit Mix of PUeblo, Inc. (existing operator)("?e.^.ninee"),pursuantto which Pemnitter has been conducting a mining operation in the Countv of Pueblo State of Colorado. 2. Perrrritteewishestoassignthepennitto Continental Materials Coraoration (new operator), as Successor Operator ("successor") and Successor wishes to become Successor Permittee under the permit. 3. Successor understands that the reclamation plan (the "Plan") required by the permit and. by applicable State laws and regulations has not been completed and is willing to assume full responsibility for the completion of the Plan. V. A ~ FED 1V'TS Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be cffective ~ facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as follows: 1. Successcr has ittspecrtd the mining and reclamation operatiotts to i[s entire satisfaction and is fully awaze of the conditions thereof Successor understands aced accepts all of the conditions of the Permit, 2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to all areas heretofore disturbed, as well as to all azeas hereafter disturbed. Successor will perform all of the obligations of the Permittee under the Permit which have no[ heretofore been performed by Permitted. 3. Successes hereby tenders io the State its attached Performance and Financial Warranties', which aze to be substituted for the Perfomtance and Financial Warranties herctofore filed by the Petmittee, effective upon the release of the latter Warranties. 4. Successor reprrsents to theState that, to the best of its lcnowtedge, information and belief, it is not in violation of any of the provisions of the Colorado ~lired Land reclamation :pct with respect to any other operation conducted by it in the State of Colorado. Pernrittee and Succ~sorhereby request the State to consent to he assignment of the Pemrit, to recognize Successor as Successor Operates under the Permit, and to accept the tendered substitute Performance and Financial Warranves in place of the Warranties presendy on file with the State.