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r : ~.~ <br />_ _ <br />:.: <br />....... .... n.~... .... .. ~.i <br />.... <br />..... <br />-3- <br /><4) The obligation of the Bank shall continue until released in <br />writing by the State, with the concurrence of OSMRE, 1n accordance with <br />applicable laws specifying bond release procedures. The parties understand <br />that periods of years may necessarily be required before determination can be <br />made that reclamation work has beensatisfactorily completed. No revision, <br />extension or renewal of the Operator's mintnq permtt or of the time allowed <br />the Operator to complete reclamation shall diminish the Bank's obligation <br />under its Certificate of Deposit. <br />(5) The State may present for payment any Certificate of Deposit held <br />hereunder and convert the same. to cash if the Board or the Division determines, <br />and the OSMRE concurs, that reclamation which ought to have been performed by <br />the 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 any such certificate. However, if upon completion of such <br />reclamation, the amounts expended for reclamation shall be less than the <br />amount•recelved from the Bank, the excess shall be promptly refunded to the <br />Principal. <br />whi <br />(6) Interest on Certificates of Deposit - <br />A. Interest on Certificates of Deposit shall become additional <br />surety hereunder and shall be evidenced either by replacement certificates in <br />the increased amounts or by the deposit with the Division of additional <br />certificates representing the interest. In either event, the amount of this <br />bond will be automatically increased from time to time by the amount of such <br />interes~t./ <br />!~ B. Interest on Certificates of Deposit shall not be State or <br />United States of America funds. Principal shall be entitled to receive all <br />such interest. <br />(7) Principal may, from time to time, withdraw a Certificate of <br />Deposit which is Surety hereunder if and to the extent that a substitute <br />Certificate of Deposit is simultaneously deposited as Surety hereunder in the <br />same amount as the .Certificate withdrawn. <br />(B) (a> If this bond applies to National Forest System lands, and if <br />this bond is accepted by the United States Forest Service ("U.S.F.S."> as the <br />bond required under 36 C.F.R. 252.13, then, the Principal and the Surety <br />having requested that the .State and the U.S.F.S. accept this single bond in <br />lieu of the separate bonds which would otherwise be required by applicable <br />law; hereby agree that, notwithstanding any other provision hereof, or of law, <br />this bond shall remain in full force and effect until U.S.F.S. has advised the <br />State that the reclamation work has been satisfactorily completed in <br />accordance with the requirements of applicable Federal law and regulations. <br />