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-4- <br />IV. RECITALS <br />n ~t ~/ore~ce <br />1. On 2 j qq "7 Permit Number 7,G - ~ S ~ was granted to L~'mvk <br />~_ _ _ , t " - •- Y L ~in~e~cisting operator) ("Permittee"), pursuant to which Permittee has been <br />conducting a mining operation in the County of Gry rye lt. State of Colorado. <br />arerrt° S4nd9FG+rzc-cll1G <br />2. Permittee wishes to assign the permit to l ~,~-.-~ ~ rxr m . L (new operator), as <br />Successor Operator ("Successor") and Successor wishes to become Successor Pennittce under the permit <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicable State laws and <br />regulations has not been completed and is willing to assume full responsibility for the completion of the Plan. <br />V. <br />Pemrittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be effective i~ facto <br />upon the approval by the State of the transfer of the Permit from Permittee to Successor, as follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware of the conditions <br />thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to all areas heretofore <br />distwbed, as well as to all areas hereaRer disturbed Successor will perform all of the obligations of the Permittee under the Permit <br />which have not heretofore been performed by Pemvttce. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties", which are to be substituted forthe <br />Performance and Financial Warranties heretofore filed by the Permittee, effective upon the release of the latter Warranties. <br />4. Successor represents to the State that, to the best ofits ]mowledge, information and belief, it is not in violation of any of the <br />provisions ofthe Colorado Mined Land reclamation Act with respect to any other operation conducted by it in the State of Colorado. <br />Permittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize Successor as Successor <br />Operator under the Permit, and to accept the tendered substitute Performance and Financial Warranties in place of the Warranties <br />presently on ffie with the State. <br />