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4- <br />IV. REC7TAIS <br />1. On ~~ Permit Number ~1rY~ •I~/ was granted to <br />~~~ i~~~ ~ (existing operator) ("Permittee"), Pursuant to which Pemvttee Les <br />conducting a mining operation in the County of ~~~~~~ .State of Colorado. <br />2. Permittce wishes to assign the permit to _i 6~t/a~~~ /J f~, 7 _6~ (new operator), as <br />Successor Operator ("Successor") and Successor wishes to become Successor ermittee 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 Las not been completed and is willing to assume full responsibility for the completion of the Plan. <br />V. <br />Permittee and Successor hereby agrce, for their ownbenefit and forthe benefit of the State, such agreements to be effective ipso 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 sucLplm es to all areashaetofore <br />disturbed, as well as to all areas hereafter disturbed. Suceessor will perform all of the obligations of the Permittee under the Permit <br />which have not heretofore been performed by Permittee. <br />3. SuccessorherebytenderstotheStateitsattachedPerformmceendFinnncialWarrantiesi,whicharetobesubstitutedforthe <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 of its lmowledge, information and belief; it is not in violation of any of the <br />provisions oftlre Colorado Mined Land reclamation Act with respect to any other operation conducted by it in the State of Colorado. <br />Permittee ®d 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 file with the State. <br />