2003-05-14_REVISION - M1973007SG (2)

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•4- N. RECTTALS I. On January 7 1973 permit Number M-1973-007 was granted to Transit Mix Concrete (existing operator) ("Permittee"), pursuant to which Permittee has been conducting a mining operation in the County of _ El Paso .State of Colorado. 2. Permitteewishestoassignthepermitto Continental Materials Corporation (new operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under the permit. 3. Successor understands that the reclamation plan (the "Plan") required by the permit and. by applicable State laws and regulations has not been completed and is willing to assume full responsibility for the completion of the Plan. V. AGREEMENTS Penruttee and Successor hereby agree, for then own benefit and for the benefit of the State, such agreements to be effective jJZSS facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as follows: 1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully, aware of the conditions thereof Successor understands and accepts all of the conditions ofthe Pemrit. 2. Successor will complete the reclamation plan, and hereby assumes liabiliiy for completing such plan as to all areas heretofore disturbed, as well as to all aeeas hereafter disturbed. Successor will perform all of the obligations of the Permittee tinder the Permit which have not heretofore been performed by Permittee. 3. Successot hereby tenders to the State its attached Performance and Financial Warranties', which are to be substituted for the Performance and Financial Warranties heretofore filed by.the Permittee, effective upon the release of the latter Warranties. 4. Successor represents to the State that, to the best of its Imowledge, information and belief, it is not in violation of any of the provisions of the Colorado Mined Land reclamation Act with respect 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 Permit, to recognize Successor as Successor Operator under the Permit, and [o accept the tendered substitute Performance and Financial Warranties in place of the Warranties presently on file with the State.