2007-09-26_REVISION - M1986124 (2)

Home Browse Search

-5- applicable law, hereby agrees that, notwithstanding any other provision hereof, or of law, this financial warranty shall remain in full force and effect until U.S.F.S. has advised the Board by written notice that the Operator's obligations to U.S.F.S., for which this warranty is executed, have been satisfied and until its release has been approved by the Board. If this financial warranty applies to lands under the jurisdiction of the State Board of Land Commissioners ("Land Board"), and if this financial warranty, in whole or in part, is accepted by the Land Board as the bond required under its applicable law and procedures, then, the Operator having requested that the State accept this financial warranty in lieu of the separate bands which would otherwise be required by the Colorado Mined Land Reclamation Board or Division and by the Land Board, hereby agrees that, notwithstanding any other provision hereof, or of law, this financial warranty shall remain in full force and effect until the Board is notified in writing by the Land Board that the Operator's obligations to the Land Board, for which this warranty is executed, have been satisfied and until its release is approved 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 warrenty in lieu of requiring a separate reclamation bond payable to the United States, then, notwithstanding any other provision of this financial warranty, or of law, the Operator and Warrantor hereby agree that this financial warranty shall not be released until the Board is advised in writing by the BLM that the Operator`s obligations to the BLM, for which this warranty is executed, have been satisfied and until its release is approved by the Board. This financial warranty may be executed in multiple copies, each of which shall be treated as an original, but together they constitute only one agreement, the validity and interpretation of which shall be governed by the laws of the State of Colorado. The provisions hereof shall bind and inure to the benefit of the parties hereto and their successors and aligns. Signed and dated this 3rd day of Januarv 1995. FIDELITY AND DEPOSIT COMPANY OF MARYLAND arrantor BY ~ ., ohn M. Koger , orneyr'1`~i~-":E'act "', ° ~, POPEJOY CONSTRUCTION COMPAN~.`•-~ZNC:~~, 'r}.= Aerator ~ { ~~ ~~ ~~~ By ~ Jvl ~, ~1` ' ,,:-: