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-4- <br />IV. RECITALS <br />1. On o2 ~ ~~ Permit N~:mbar - g7~0~7was granted to <br />W~RU modi~ So.r7t~cu.iuc_ ..• - ~exisungoperator)!"Pemtittee"),puisuantto <br />which Pemrittee has been condud'mg a mining operation in the County of Q UE'Q L y .State <br />of Colorado. <br />2. Pertnittce wishes to assign the permit to =-3farge West, Inc. <br />(new operators as Sucossor Operator ("Suaxssor') and Successor wishes to become Successor Petmittce <br />under the permit. , <br />3. Successor tmderstands that the reclamation plan (the "Phm'~ required by the permit and by <br />applicable State laws and regulations has not been completed and is willing to assume full responsibility <br />for the completion of the Plan. <br />V. AGREEMENTS <br />Pemtittee and Successor hereby agree, for then own benefit and for the benefit of the State, such <br />agreemertts to be effective jp~ ~ upon the approval by the State of the transfer of the Permit from <br />Peiinittee to Sucoessor, as follows: <br />1. Sucossor has inspected the mining and reclamation operations to its entire satisfaction and is fully <br />aware of the conditions thereof. Successor understands and atxxpts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such <br />plan as to all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform <br />a1S of the obligations of the Pemuttee under the Permit which have not heretofore been performed by <br />Permittee_ <br />3. Suoossor hereby tenders to the State its attached Performance and Financial Warranties', which <br />are to be substituted for the Performance and Financial Warranties heretofore filed by the Perntittee, <br />effective upon the release of the latter Waranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and belief, it is not <br />in violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other <br />operation conducted by it in the State of Colorado. <br />Pernittee and Successor hereby request [he State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accept the tendered substitute Performance and <br />Financial Warranties in place of the Warranties presently on file with the Slate. <br />