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the permit or of the time allowed to complete reclamation shall <br />diminish the Operator's obligation under this financial warranty <br />or under the Deed of Trust. <br />In any single year during the life of the permit, the amount <br />of the financial warranty shall not exceed the estimated cost of <br />fully reclaiming all lands to be affected in said year, plus all <br />lands affected in previous permit years and not yet fully reclaimed. <br />Reclamation costs shall be computed with reference to current <br />reclamation costs. <br />The amount of this financial warranty is based upon estimates <br />as to the cost of reclamation, and does not operate to liquidate, <br />limit, enlarge, or restrict the operator's obligations to complete <br />the reclamation, even though the actual costs thereof may substan- <br />tially exceed the amount of this financial warranty. <br />This financial warranty shall be subject to forfeiture when- <br />ever the Board determines that any one or more of the following <br />circumstances exist: <br />1. A cease and desist order entered pursuant to <br />section 34-32-124 of the Act has been violated, and the corrective <br />action proposed in such order has not been completed although <br />ample time to have done so has elapsed; or <br />2. The Operator(s) is in default under its performance <br />warranty, and such default has not been cured although written <br />notice and ample time to cure such default has been given; or <br />3. The Operator has failed to maintain its financial <br />warranty in good standing as required by the Act; or <br />4. The Operator no longer has the financial ability <br />to carry out its obligations in accordance with the Act. <br />The description of lands herein is for convenience of <br />reference only, and no error in such description, nor any revision <br />of the permitted mining area, nor the disturbance by the operator <br />of lands outside of the permitted mining area shall alter or <br />diminish the obligations of the Operator and/or the Operator <br />hereunder or under the Deed of Trust, which shall extend to the <br />reclamation of all such lands disturbed. <br />-4 - <br />