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~_ BOND NO. 6457.03557S18BCM <br />(10) The State may make demand upon tl~e surety for payment hereunder if the Board or the <br />Division determines, and the OSMRB concurs, that reclamation which ought to have been performed <br />pursuant to the Plan by the Principal, oI ILS JlleCCSSgqrs ur assigns, rrulaius unpclforrned, and if suncty <br />forfeiture procedures required bylaw have been itti~iated. No other condition precedent need be <br />fu1511cd to cntitlc the Statc to rCCCive the amount so demanded. However, if, upon completion of <br />reclamation, the amounts expended for reclamation shall be less than the amount received from the <br />surety, the excess shall be promptly refimderl to the surety. <br />(11) if demand is made upon the surety for payment of an amount due to the State <br />hereunder, and if the surety fails to make payment of such amount within ninety (90) days aRer the <br />date of receipt of such demand by the surety, and if it should thereafter be determined, by agreement <br />of the surety of by final judgement of court, Wet the amount demanded was properly payable, surety <br />agrees to pay to the State, in addttion to the amount demanded, interest a the prime rate in effect from <br />time to time at The First National Bank of Aenver for, the period commencing at I.ha and of such <br />ninety-day period and ending on the date of actual payment. <br />(12) Tf the State shall notify the surety that the Principal is in default and if the State shall <br />initiate any bond forfeiture procedures required by l~w or regnlTtinn, the surety may, in lieu of making <br />payment tc the State of the amount due hereunder, Qause the reclamation to be timely performed in <br />accordance with the Plan. In such event, when and if the reclamation has been timely performed to <br />the satisfaction of the Board or Division and the OSMRE, this bond shall be released. If the <br />reclamation shall not be so performed to the satisfaction of the Board or Division and the OSMRE, <br />this bond shall remain in full force and effect. <br />{13} (a} Iftbis bond applied to National Forest System lands, and if this bond is <br />accepted by the United States Forest Service ("1J.S,F.S.") as the bond required under 36 C.F.R <br />252.13, then the Principal and the surety, having requested (fiat the State and the U.S.F.S, accept ties <br />single bond in lieu of the„separate bonds which would gtherwise be required by applicable law, hereby <br />ague that; notwithstanding any otbrr pmvisian hereof, or of law, this bond shall remain in full force <br />and effect until U.5.F.S. has advised the State that the reclamation work has been satisfactorily <br />completed in.accordance with the.requirements ofapplicable Federal law and regulatiens. <br />(b) if this bond applies to land tt~tder the jurisdiction of the State Boazd of Land <br />Commissioners {"Lartd Board"), and if this bond; in whole or in part, is accepted by the Land Board <br />as the bond required under its applicable law and procedures, then the Principal and the surety, having <br />requested that the State accept this singly band in lieu of Ille scparatc buuds wIuch t4ould otherwise be <br />required by the Colorado Mined Land Reclamation Board of Division and by the band Board, hereby <br />agree that,:nnttivithstaading any other provision hereof, or•of law, this bomd shall remain in full force <br />and effect `untx'1 released by the Land Boazd. <br />FtID722 <br />0I 39Cd Wf11Gl WIP 65t09b86tL tt~LL L90Z/6t/L0 <br />