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4- <br />IV. RECTTALS <br />1. On Permit rh®ba M- l l ~ ~ - 2 "w7 gra„ud to <br />ea. ~ ~vd S v rvt CorC - (e~asting oper11ator) ("Pemuttee"), Pinsuant to which Pamittee has been <br />conducting a mining operation in the Canty of ,~"r~ M D r T .State of Colorado. <br />2. Permittee wishes to assign the permit to ~~ ~.P s O U rCe 'S ~ ~,.,~ G (new operator), as <br />stmcessor Operator ("Successer'~ and Sttceessor wishev to become Successor Permitree trnda the permit <br />3. Success understands that the reclamation plan (the "Plso') required by the permit and by applicable State Saws and <br />regulations has not been completed and is willing to assume full responsibility for the completion of fhe Plea. <br />V. <br />Pemrittee end Succesgorherebyergue. for their own befit and for the benefit ofthc State, such agremrerts m be effxtive~~ <br />upon the approval by the State of the traffifa of the Permit from Permittee to Successor, as follows: <br />1. Successor has inspected the mining and rxlamstion operations to its Mire satisfaction and is fully aware of the conditions <br />theroof. Strcassor understands and accepts ell of the cwditions of the Pewit <br />2. Successorwillcbmpletethereclamatioaplan,a~henbyass~esliabilityforcatnphaiogs~pl®estoellateasheTHOfore <br />disturbed, m well es to all areas hereafter disturbed SuocessW will perform all of the obligations ofthe Permittce undo the Pcrmit <br />which have no[ here[nfwe ben performed by Permittee. <br />3. Stt~rhaebytenderstotheStauitsattachedPerfortttaaccendFinatx:ialWarranties',whicharetobesubstitutodfarthe <br />Performance and Financial Warranties heretofore filed by the Permittee, effective upon the release of the latter Warranties. <br />4. Successor represents to t!K State that, to the best ofits lorowledge, infaumetioa end belief; it is ~ in violation of any ofthe <br />provisions ofthe Cohxado Mined Land reclamation Atxwith respect to e~ other operation conducted by it in the State of Colorado. <br />Permittee a~ Staxessar hereby request the Stau to consent to the assigtrm~t of the Permit, to recognize Successor as Successor <br />Operator tinder the Petmit, and to accept the tendered substitute Paformmtce and Financial Warranties in place of the Warranties <br />presmtty on Sle with the State. <br />