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(c) the Operator/Applicant shall be responsible for all costs properly charged hereunder, even if no permit issues from the Board; 4.1.3 Provisions for Recovery of Costs Any instruments offered as a Financial Warranty pursuant to this Rule 4, shall provide that the Board or Office may recover the necessary costs, including attorney's fees or fees incurred in foreclosing on or realizing the collateral used to secure such Financial Warranty in the event such Financial Warranty is forfeited, in the following manner: (a) for any Corporate Surety Bond issued by a corporate surety company authorized to do business in this state, the face amount of the bond shall be increased by five hundred ($500) dollars; (f) for any Deed of Trust or Security Agreement encumbering real or personal property creating a first priority lien in favor of the state, the value of the real or personal property available to secure the amount of the Financial Warranty attributable to costs of reclamation shall be reduced by an amount to be determined by the Board or Office, but in any case, a minimum of five thousand ($5,000) dollars and up to a maximum amount of two (2%) percent of reclamation costs; 4.3 TYPES OF FINANCIAL WARRANTIES Proof of financial responsibility may consist of any one or more of the following, subject to approval by the Board: 4.3.6 Deeds of Trust and Security Agreements A Deed of Trust or security agreement encumbering real or personal property and creating a first lien in favor of the State. 4.3.10 First Priority Lien on Project-related Fixtures and Equipment A Deed of Trust or security agreement encumbering specific project-related fixtures and equipment that must remain on-site upon completion of mining operations, or that must be demolished or removed in order for the Reclamation Plan to be performed, creating a first priority lien in favor of the State. 4.9 SPECIFIC REQUIREMENTS FOR DEEDS OF TRUST AND OTHER SECURITY INTERESTS IN REAL OR PERSONAL PROPERTY 4.9.1 General Provisions (1) The Board or Office may accept interests in real and personal property as Financial Warranties of not more than eighty-five percent (85%) of the estimated value of any such property. (2) Any person offering such Financial Warranty shall: (a) submit current information necessary to show clear title to the property and the current appraised value of such property. This information shall contain a completed appraisal in a form approved by the Board. (b) Submit together with the Annual Report as required by Section 1.15, the following: (i) an update by a qualified independent appraiser indicating any changes in property value;