Laserfiche WebLink
5/21/2005 10:20 AM PROM: Fax Lipton Mining Consultants TO: 1]196873156 <br />t, -2- <br />WHEREAS, the Operator hereby gives the Board a performance warranty pursuant . to <br />Section 3432-117(2) or Section 3432.5-117(2) of the Act, and herein promises the Board that it will comply <br />with all applicabie requirements of the Act with regard to those Affected Lands. <br />NOW, THEitEFORE, the Operator hereby promises the Board that it will campiy with all applicable <br />requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. <br />FURTHER, the Operator hereby promises the Board that it will comply with all of the terms of the <br />application for apemut, as amended send supplemented, asweIl as any conditions attached to the permit by the <br />Board. <br />FURTHER, the Operator promises the Board, pursuant to 3432-112(2)(d) or 3432.5-112(lxexiv) of the <br />Act, that ithas the lawful authorityto enterupon the Affected Lands to conductmining operations, including, but <br />not limited to, reclamation. The Operator farther recognizes the rrgLt of the Board to. enter to reclaim lands <br />affected by the operation. <br />Tire description of lands here is for convenience ofreference only, and no error in such descripfion, nor <br />anyrevisidn ofthepe®ittedmining area,northe disturbancebythe Warrantoroflands optside ofthepermitted <br />mining area shall alter or diminish the Operator's obligation herermder, which shall extend to the reclamation of <br />all such lands disturbed. <br />The obligation of the Operator hereunder is such that, if the Operator shall successfully comply with the <br />tequiremerrtsofthe Act, applicablerules andregulations, and thepermit, thentheBoard, upon afindingthat the <br />Operator has so complied, shall release this performance warranty, and the Operator from its obligation <br />hereunder, to the extent that the Board determines that such compliance has been accomplished. The obligation <br />of the Operator hereunder shall continue until released in whole or in part by the Board in accordance with <br />applicable law. <br />]a further satisfaction oftherequiremenisoftheAct, the Operatorpromises toberesponsible forthecost <br />of reclamation uP to the amount established by the Board and has attached hereto its financial warranty, which <br />may be amended from time to time. The Operator agrees that it will maintain a financial warranty (or warranties) <br />for the estimated costs ofreclamation in good standing for the entire life ofthe permit. Please note that under the <br />provisions of the Colorado Mixed Land Reclamation Act and the Colorado Land Reclamation Act for the <br />Extraction of Constnrction Materials, any Applicant or Operator that submits proof, acceptable to the Boazd or <br />Division ofMinerals and Geology, that an Applicant or Operator is a unit ofl'ounty orMunicipal government, or <br />is a department or division of State government, the AppGcanCor Operator is not required to submit or post any <br />otherinstrument ofSnancial rospoasibilitybutherebypromises toberesponsible forthe costofreclarnationup to <br />the amount specified by the Board. <br />If the Board determines that the ()pastor is in default under this performance warranty and has failed to <br />cure such dcfauft, although written entice of such default and autple time to arre such default have been given, <br />the Operator's financial warranty shall be subject to forfeiture. <br />This performance warranty maybe executed in multiple copies, each of which shall be treated as an <br />original, but together they constitute only one agreement, the validity and interpretation of which shall be <br />governod by the laws of the State of Colorado. <br />