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-4- <br />[V. RECITALS <br />~- ~7 ~ C'i <br />1. On ~ Permit Numberln /L~P7 -~-8 was granted m <br />~fyl ~l~c.~~3 +~n.,.:~c, Tttaf (ezistingoperator)("Pemrittce"),Pursuantmwbich <br />Permittce has been conducting a mining operation in the County of .~. A~/HT,~jl-~ .State of Colorado. <br />2. Permittee wishes to assign the permit ro ~ s G L C (new <br />operamr), as Successor Opatator ("Stccessor") and Successor wishes ro eeome Successor Permittee wader the <br />P~~G <br />3. Successor undentaads that the reclamation plan (the "Plan") inquired by the permit and by applicabk <br />State laws and regulations has not been cor»pkled and is willing ro assume full responsibility for die eompktionof <br />the Plan. <br />V. <br />Permittce and Successor hereby agree, for their own benefit aml for the benefit ofthe State, such agreemenh m be <br />eftectivc ~ f~(o wpm the appmva! by the State of the transfer of the Permit fmm Pemiittce m Successor, as <br />follows: <br />1. Stmceasor has inspected the mining and reclamation operatiaiis ro its entire satisfaction and is tlilty aware <br />of the cooditiaas thereof. Successor utrdarotaads and accepts all of the rnrtditioas of t1x Permit. <br />2. Strccessorwillcompletethereclarriationplaa,andherebyassirtttealiabilityfatxatrpktirigsrkhphmasro <br />all areas hererofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Permittee user the Pemmt which have not heretofore hem performed by Penrtittce. <br />3. Successor hereby tenders ro the Shce its attached Perforrimrice a~ Financial Warranties', whkh arc ro be <br />substituted for the Perforrrreoce and Financial Warranties heretofore filed by the Permittx, eficetive upon the <br />release of the latter Warrantid. <br />4. Successor represmta to the State that, m the best of its larowledge, inforrtmtion and belief, it is not in <br />violation of any of the proviaiom ofthe Colorado Mined Land rechunadon Act with respect m any other operation <br />conducted by it in the State of Cohnado. <br />Petmithe and Successor hereby request the Shoe m consent ro dse aasigrnnetit ofthe Pemtit, b tecogrri2e Succwaor <br />as Str:ceaaor f)pmoor under the Pemut, sad ro accept the teiidered substitute Performance and Financial <br />Werntntiw vi place of the Warantiea presently m fik with the State. <br />