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<br /> <br />-; - <br />IV <br />RECTTALS <br />On January 17, 1984 permit Number M-1983-090 was granted to <br />V <br />Hall-Irwin Construction Conpany (existing operator)("Permittee"),pursuantto <br />which Pertnittee has been conducting a mining operation in the County of We 1 d State <br />of Colorado. <br />2. Petmittee wishes to +rssign the permit to Ha 11-Irwin Co rpo ra t i o n <br />(new operator), as Successor Gperator ("Successor") and Successor 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 completed and is willing to assume full responsibility <br />for the completion of the Platt. <br />AGREErtENTS <br />Permittee and Successor hereby aazee, for their own benefit and for the benefit of the State, such <br />agreements to be effective IDSO facto upon the approval by the State of the trartsfer of the Permit from <br />Permittee to Successor, as follows: <br />1. Suaessor has inspected the mining and reclamation operations to its entire satisfaaion and is fully <br />awaze of the conditions thera~f. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, 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 oblieations of the Pertnittee 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 be substituted for the Performance and Financial Warranties heretofore filed by the Permittee, <br />effective upon the release of the latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, 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 it in the State of Colorado. <br />Permittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the State. <br />