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a- lv. RECirv,s ~- ~ 1. On ~S~Mt`~~~'c),__~,,~,~, n~ a°oo Permit Number~~~J' ~ ~ ~ was granted to ~'n ma ~ 1~1 R,ZIILJ~Ai Tom. (existing operator) ("Permit~ee"), pursuant to which Pemtittee has been conducting a mining operation in the County of ~P ~ K ,State of Colorado. 2. Permittee wishes to assign the permit to ~ r~Y,~r~", Tnt~' t .t~f'!C5 -~AIGQ ~_L.l rL (new operator), as Successor Operator ("Successor") aii ute ssor 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 cad is willing to assume full responsibility for the completion of the Plan. V. AGREEMENTS Permittee and Successor hereby agree, for they own benefit and for the benefit of•the State, such agreements to be effective iy,~Q 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 satisfacaion and is fulh• aware of the conditions thereof. Successor understands and accepts all of the condittoa9 of the Permit. 2. Successor will complete the reclamation plan, and hereby assumes liability for dompleting such plan as to all azeas heretofore disturbed, as well as to all azeas hereafter disturbed. Successor will perform all of the obligations of the Permittee under the Permit which have not heretofore beep performed by Permittee. 3. Successor hereby tenders to the State its attached Performance and Financial Wa~•anties', which are to be substituted for the Performance and Financial Warranties heretofore filed b}f the Permittee, effective upon the release of the latter Warranties. 4. Successor represents to the State that, to the best of its latowledge, information and. belief, it is not m violation of anv of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation conducted by it in the State of Colorado. Pemtittee and Successor hereby request the State to consent to the assignment of the Perttp[, to recogttize Successor as Successor Operator under the Permit, and to accept the tendered substitute PQrformance and Financial Warranties in place of the Warranties presentl}• on file with the Stale.