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-4- \ <br />~C~ <br />IV. RECITALS <br />Se~~~m~~r ~ ~`~~ e~-s r7 <br />1. On Permit Number ~ l9gD '(~i ~ was granted to <br />// <br />(c~J/?S t7A'Az ~' / ~7ttL9tz (existing operator) ("Permittee"), pursuant to which <br />Permittee has been conducting a mining operation in the County of ~[~E2 ,State of Colorndo. <br />2. Permittee wishes to assign the permit to ~pj 2~r (new <br />operator), as Successor Operator ("Successor") and Successo wishes to be ome Successor Permittee under the <br />pemrit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the pemut and by applicable <br />State laws and regulations has not been completed and is willing to assttrne full responsibility for the wrrgtletion of <br />the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective 1DS0 facto upon the approval by the State of the transfer of the Permit from Pemtittee to Successor, as <br />follows: <br />I . Successor has inspected the mining and reclamation operations to its entue satisfaction and is fully awaze <br />of the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to <br />all azeas heretofore disturbed, as well as to all azeas hereafter disturbed. Successor will perform all of the <br />obligations of the Permittee under the Pemut which have not heretofore been performed by Pennittee. <br />3. Successor hereby tenders to the State its attached Perfomrance and Financial Warranties", which are to be <br />substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of the latter Warranties. <br />4. Successor represents to the State that, to the best of its lmowledge, information and belief, it is not in <br />violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />Pemvttee and Successor hereby request the State to consent to the assignment of the Pemdt, to recognize Successor <br />as Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial <br />Warranties in place of the Warranties presently on file with the State. <br />