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• -~ • NOW, THEREFORE, the Operator hereby promises the Boazd that it will comply with ali applicable requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. FURTHER, the Operator hereby promises the Board that it will comply with all of the terms of the application for a permit, as amended and supplemented, as weU as any conditions attached to the permit by the Board. FURTHER, the Operator promises the Boazd, pursuant to 34-32-112(2)(d) or 34-32.5-112(1)(c)(iv) of the Act, that it has the lawful authority to enter upon the Affected Lands to conduct mining operations, including, but not limited to, reclamation. The Operator further recognizes the right of the Board to enter to reclaim lands affected by the operation. The description of lands herein is for convenience of reference only, and no error N such description, nor arty revision of the permitted mining area, nor the disturbance by the Warrantor of lands outside of the permitted mining azea shall alter or diminish the Operator`s obligation hereunder, which shall extend to the reclamation of all such lands disturbed. The obligation of the Operator hereunder is such that, if the Operator shall successfiilly comply with the requirements of the Act, applicable rules and regulations, and the permit, then the Boazd, upon a finding that the Operator has so complied, shall release this performance warranty, and the Operator from its obligation hereunder, to the extent that the Board determines that such compliance has been accomplished. The obligation of the Operator hereunder shall continue until released in whole or in part by the Board in accordance with applicable law. In further satisfaction of the requvemerns of the Act, the Operator promises to be responsible for the cost of reclamation up to the amount established by the Board and has attached hereto its financial warranty, which may be amended from time to time. The Operator agrees that it will maintain a financial warranty (or warranties) for the estimated costs of reclamation in good standing for the entire life of the permit. Please note that under the provisions of the Colorado Mined Land Reclamation Act and the Colorado Land Reclamation Act for the Extraction of Construction Materials, any Applicant or Operator that submits proof; acceptable to the Board or Division of Mmerals and Geology, that an Applicant or Operator is a unit of County or Municipal government, or is a department or division of State government, the Applicant or Operator is not required to submit or post any other instrument of financial responsibility but hereby promises to be responsible for the cost of reclamation up to the amount specified by the Board. If the Boazd determines that the Operator is in default under this performance wattanty and has failed to cure such default, although written notice of such default and ample time to cure such default have been given, the Operator's financial warranty shall be subject to forfeiture.