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.q. N RECITALS 1, pn September 5 1986 Permi[Number M-1985-21 vvasgrantedto Arkins Park Stone Company (existing operator) ("Permi a"), pursuant to which Pemtittee has been conducting a mining operation in the Counh• of Larimer ,State of Colorado. 2. Permitteewishestoassignthepermitto Arkins Park Stone Corp ration (new operator), as Successor Operator ("Successor") and Successor vv~shes to become Su essor Permittee under the permit. V 3. Successor understands that the reclamation plan (the "Plan') required by th permit and by applicable State laws and regulations has not been completed and is willing to assume U responsibility for the completion of the Plan. AGREEMENTS Permittee and Successor hereby agree, for their own bereft and for the benefit of a State, such agreements to be effective ~q fact° upon the approval by the State of the transfer of a Permit Gom Permittee to Successor, as follows: I. Successor has inspected the mining and reclamation operations to its entire satisfac on and is fully aware of the conditions thereof Successor understands and accepts all of the condition of the Permit. 2. Successor will complete the reclamation plan, and hereby assumes liability for mpleting such plan as to all areas heretofore disturbed, as well as to all aeeas hereafter disturbed. Succes r will perform all of the obligations of the Permittce under the Permit which have not heretofore bee performed by Permittee. 3. Successor hereby tenders to the State its attached Performance and Financial W anties', which are to be substituted for the Performance and Financial Warranties heretofore filed b the Permittee, effective upon the release of the latter Warranties. 4. Successor represents to the State that, to the best of its latowledge, information and~belief, it is not in violation of any of the provisions of the Colorado Mined Land reclamation Act with resp ct to any other operation conducted by it in the State of Colorado. Permittee and Successor hereby request the State to consent to the assignment of the Pe t, to recognize Successor as Successor Operazor under the Permit, and to accept the tendered substitute P ormance and Financial Warranties in place of the Warranties presently on file with the State.