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-4- <br />IV. RECITALS <br />1. On ~a.~u T t `f _ I g4 7 Permit Number h'1- 1995 ~o`7'7was granted to <br />W e1CrwT ~ ~,er=os~aa YYIi n, wtn ~ LTp . (existing operator) ("Permitter"), pursuant to <br />which Pemittee has been conducting a mining operation in the County of Iii trot n~ Slate <br />of Colorado. <br />2. Permittee wishes to assigm the permit to N Ew `.~rn~/,G~t=e fYl iNE ~or.~.na,~>r <br />dew operator), as Successor~paator ("Successor") and Successor wishes to become Successor Pe'rmitt <br />under the permit. <br />3. Successor understands that the reclamation plan {the "Plan") required by the permit and by <br />applicable State laws and regulations has not been completed and is willing to assume full responsibility <br />for the completion of the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agrcements to be effective j~,gq ~~Q upon the approval by the State of the transfer of the Permit from <br />Permittee to Successor. as follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully <br />aware 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 completitig such <br />plan as to all areas heetofore disturbed, as welt as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Pemtittee under the Pemtit which have not heretofore been performed by <br />Permittee. <br />3. Suocessor hereby tenders to the State its attached Perfomrance and Financial Warranties", which <br />are to be substituted for the Performance and Financial Warranties heretofore filed by the Permittce, <br />effective upon the release of the latter W arranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and belief, it is not <br />in violation of any of the provisions of the Colorado M'med Land reclamation Ad with respect to any other <br />operation conducted by it in the State of Colorado. <br />Permittee and Successorhereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the State, <br />