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r <br />-2- <br />WHEREAS, the Operator hereby gives the Board a performance warramty pursuant to <br />Section 3432-117(2) or Section 3432.5-117(2) of the Ad, and herein promises the Board that it will comply <br />with all applicable requiranents of the Aa with regard to those Affected Lands. <br />NOW, TfiEREFORE, the Operator hereby promises the Board that ii wil! comply with al! applicable <br />requirements of tlu Act and rules and regulations of the Board with respell to the Affected Lands. <br />1?URTHE1t, the Operator hereby promises the Board that it will comply with all of the terms of the <br />application for a permit, as amended and supplemented, as welt as any wnditions attached to the permit lry the <br />Board. <br />F(7RTHER, the Operator promises the Board, pursuant to 34-32-112(2xd) or 3432.5-112(lxcxiv) of <br />the Ad, that it has the lawful authority to eats upon the Affected Lands to conduct mining operations, mdudmg, <br />but not limited to, reclamation The Operator further recogmius the right ofthe Board to enter to reclaim lands <br />affected by the operation <br />The description of lands herein is for com+eniertce of reference only, a~ no error in sum description, nor <br />any revision ofthe permitted mining area, nor the disturbance by the Warrantor of lams outside ofthe permitted <br />mining area shall abet or diminish the Operator's obligation hereunder, which shalt extend to the redarnateon ofaIl <br />sudr lands disturbed. <br />The obligation of the Operator hereunder is such that, if the Operator shall successfitlly comply with the <br />requirements ofthe Act, applicable Hiles and regulations, and t~ permit, rhea tbe Board, upom a Ending that the <br />Operator trsa so complied, shat! releasethis petformartce wan-anty, and the Opeateefrom its obligation hereunder, <br />to the extem that the Board determines that suct- compliance has been accomplished. The obligation of the <br />Operator hereu[rder shall camUmre until released in whole ar in part by the Board in accordance with applicable <br />law. <br />Ia further satisfadian ofthe requirements ofthe Act, the Operator promises to be responsible far the cost <br />of reclamation up to the amours established by the Board and has attached hereto its financial warranty, which <br />may be amended from tip to time. The Operator agrees that it wilt maintaim a financal wararrty (or warranties) <br />for the estimated costs ofreclamation in good standing for the emire life ofthe permit. Please note that umder the <br />provisions of the Colorado Mmes Land Reclamation Ad and the Colorado Land Reclamation Act for the <br />Erdraction of Construction Materials, eay Applicam or Operator that submits pr+oot; acceptable to the Board or <br />Division oflvfinerals sad Geology, that an Applicant or Operator is aunit of County or Municipal government, or <br />is a department or division of Stan government, the Applicant or Operator is not required to submit or post any <br />other insuumem offinanciai responsibility but hereby promises to be responsible for the cost ofreciamation up to <br />the amount spedfied by the Board. <br />If the Hoard determines that the Operator is in default under this performance warranty acrd has failed to <br />taro such defauh, although written notice of surJr default and ample time to sue such defarilt (rave l>eea given, the <br />Operators fmanciai warranty shall be suttject to forfieiture. <br />This performatce waranty may be executed in multiple copies, each of which shall be treated as an <br />original, but together tiny constitute only oce agreement, the validity and imerpretation of which studl be <br />governed by the laws of the State of Colorado. <br />