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<br />-4- <br /> <br />hereunder, provided that, at all times, there shall be in existence and <br />deifvered to the State such Surety or other evidence of financial <br />responsibility as shall be required by applicable laws and regulations of the <br />State and as shall, in form and substance, be approved by the Board or the <br />Division. <br />(5) The description of lands set forth herein is for convenience of <br />reference only, and no error 1n such description, nor any revision of the <br />permitted mining area, nor the disturbance by the Principal of lands outside <br />of the permitted mining area, shall alter or diminish the Principal's <br />obligation hereunder or the Bank's obligation under its Letter of Credit, <br />which shall extend to the reclamation of all such lands disturbed. <br />(6) The State may present drafts upon the Bank for payment under the <br />Letter of Credit if the Board or the Division determines, and the OSMRE <br />concurs, that reclamation which is required to have been performed by the <br />Principal, or its successors or assigns, remains unperformed. No other <br />condition precedent need be fulfilled to entitle the State to receive the <br />amount of such drafts. However, if, upon completion of such reclamation, the <br />amounts expended for reclamation shall be less than the amount received from <br />the Bank upon presentation of drafts by the State, the excess shall be <br />promptly refunded to the Principal. <br />(7) The amount of this bond is based upon estimates as to the cost of <br />reclamation, and is not intended to liquidate, limit or enlarge the Principal's <br />obligation to complete the reclamation plan and to comply in ail respects with <br />the Permit and with applicable laws and regulations of the state governing <br />reclamation. If the actual cost of reclamation, in accordance with the Plan <br />and the Permit, should exceed the estimated cost, the Principal shall be <br />responsible for the excess to the full extent provided by law, including the <br />Colorado Surface Coal Mining Reclamation Act (C.R.S. 1973, 34-33-101 et sec.), <br />as amended. <br />NOTE: Consider use of the following paragraph (B) if removal of <br />buildings and facilities is a substantial reclamation cost. <br />(8) (a) The Principal hereby represents that, as of the date of this <br />bond, its interest in the lands above described is free and clear of any liens <br />or encumbrances, except as described in Exhibit A hereto. <br />(b) The Principal agrees that it will not voluntarily subject such <br />interest to any lien or encumbrance without giving to the Board sixty days <br />prior written notice of such action and that it will notify the Board of any <br />lien or encumbrance involuntarily imposed upon such interest promptly after <br />the Principal's learning of such occurrence. <br />(c) If any lien or encumbrance other than that described in Exhibit <br />A shall attach to any portion of the lands above described, the Board or <br />Division may require that it be furnished with a subordination agreement in <br />substantially the form of "Consent of Llenholder" below set forth, executed by <br />the holder of such lien or encumbrance, in order that the Surety for this bond <br />may be deemed sufficient. <br />