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<br />-2- <br />IOW, TNEREfORE, the Operator hereby praxises the Board that it rill <br />comply with all applicable requirements of the Act and rules and regulations <br />of the Board with respect to tfie Affected Lands. <br />fUitTHER, the Operator hereby promises the Boartl that it will comply <br />with all of the terms of the application for a permit, as amended and <br />supplemented, as veil as any conditions attached to the permit by the Board. <br />furtfier, tfie Operator praxises the Board, pursuant to 34-32-1i2(13(d3 <br />of the Act. that it has the lawful authority to enter upon the Affected Lands <br />to conduct mining operations, including, but not limited to, reclamatiart.. fie <br />Operator further recognizes the right of the Board to enter to rec]aim lands <br />affected by the operation. <br />The description of lands hereirt.is for convenience of reference only, <br />and no error in such description, nor any revision of the permitted mining <br />area, nor the disturbance by the hlarrantor of lands outside of the permitted <br />mining area sha]7 alter or diminish the Operator's obligation hereunder, which <br />shah extend to the reclamation of ail such lands disturbed. <br />The obligation of the Operator hereunder is such that, if the <br />Operator shall successfully comply with the requirements of the Art. <br />applicable rules and regulations. and the permit, then tfie Board, upon a <br />finding that the Operator has so complied. shall release this performance <br />warranty, and the Operator from its obligation hereunder, to the extent that <br />the Board determines that such compliance has been accomplished. The <br />obligation of the Operator hereunder shall cm+tirtue until released in Thole or <br />in part by the Board in accordance rich applicable law. <br />In further satisfaction of the requirements of the Act, the Operator <br />has attached hereto its financial rarranty, whicfi may be amended from time to <br />time. The Operator agrees that it viii maintain a financial rarrartty (or <br />aarrartties) for the estimated costs of reclamation in good standing for the <br />entire life of the permit_ <br />If the Board determines ififiat tfie Oper for is in default under this <br />performance rarranty and has failed to cure such default, although mitten <br />notice of such default and ample time to cure sucA default have been given, <br />the Operator's financial rarranty shall be subject to forfeiture. <br />This performance warranty may be executed in multiple copies, eacfi of <br />which shalt be treated as an original, but togetfier they constitute only one <br />agreement, the validity and interpretation of which shall be governed by the <br />laws of the State of Colorado. <br />