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4- <br />IV <br />1. On ~ l~ ~ ~i Permit Number ~' ~ 't~'~as granted to <br />.1 /AmL4 'D • Y~Y ~ (existing operator) ("Pennittee"), pursuant to <br />which Pennittee has been conducting a mining operation in the County of ~, QXl ~'V tP.~/ State <br />of Colorado. <br />2. Permittee wishes to assign the permit to ~Gl~l~ I ~ .U'l~ <) ~ ~ L_~YCL(l P ~~ ~. L.C. <br />(new operator), as Successor Operator ("Successor") and S~u cessor wishes to become Successor Permittee <br />under the permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by <br />applicable State laws and regulations has not been wmpleted and is willing to assume full responsibility <br />for the completion of the Plan. <br />Y. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective ~ act upon the approval by the State of the transfer of the Permit from <br />Permittee to Successor, as follows: <br />1. Succssor has inspected the mining and reclamation operations to its entire satisfaction and is fully. <br />Aware of the conditions thereof Successor understands and accepts all of the conditions ofthe Pemrit. <br />2. Successor will complete the reclamation glan, and hereby assumes liability for completing such <br />plan as to all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Permittee under the Permit which have not heretofore been performed by <br />Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties*, which <br />are to he substituted for the Performance and Financial Warranties heretofore filed by.the Permittee, <br />effective upon the release of the latter W arranties. <br />4. Successor represents to tht State that, to the best of its lmowledge, information and belief, it is not <br />in violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other <br />operation conducted.by ii in the State of Colorado. <br />Fermittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Opezator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Waaanties presently on file with the State. <br />