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<br />ROCKCASTLE/CMLRD <br />DRAFT AGREEMENT <br />5/30/90 <br />VII. RETAINED BOND AMOUNT -- The Division shall retain no more <br />than $50,000 as a performance bond for the Grassy Gap Mine upon <br />completion of all reclamation activities described in §§ II, III <br />and IV of this Agreement. The Division acknowledges that it has <br />reviewed the potential remaining reclamation requirements at the <br />site and determined that $50,000 is sufficient to provide for <br />reasonably foreseeable site maintenance and to complete all <br />reasonably foreseeable reclamation activities at the site <br />contemplated in the Reclamation Plan pursuant to the criteria in <br />§ 34-33-113, C.R.S. <br />VIII. BOND FORFEITURE -- Rockcastle will voluntarily forfeit the <br />$50,000 performance bond retained by the Division following <br />completion of all reclamation activities described in §§ II, III <br />and IV of this Agreement. <br />1. The forfeited $50,000 bond will be deposited in an <br />interest bearing account (the "Account") which shall be subject to <br />the following conditions: <br />a. Interest which accrues on the Account shall be added <br />to the bond principal. The Account shall be managed in a manner <br />which maximizes accrual of interest income to the Account. <br />b. The Division shall utilize monies in the Account in <br />a reasonable manner to assure that monies in the Account continue <br />to be available to the extent possible for conducting future <br />reclamation activities or studies at the Grassy Gap Mine. <br />-8- <br />