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.; <br />-~- <br />N. RECITALS <br />L On July 23 1981 Permit Number M-61-013 was granted to <br />Nichols <br />Terry Nichols ,John Nichols , Ward (e.~rstmg operator) ("Permittee'"), pursuant to <br />which Pernittee has been conducting a mining operation in the County of ma ca ,State <br />of Colorado. <br />2. Permittee wishes to assign the permit to N I C Not.S GeAYC;L PIT LL P <br />(new operator), as Successor Operator ("Successor"') and Successor wishes to become Successor Permittee <br />under the permit. <br />3. Successor understands that the reclamation plan (the "Plan") requved by the permit and by <br />apphcable 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 />Perntittce and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective Aso facto upon the approval by the State of the transfer of the Permit from <br />Pemrittee to Successor, as follows: <br />l . Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully <br />awaze of the conditions thereof Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby asstunes liability for wmpleting such <br />plan as to all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform <br />all of the obligations of the Permittce under the Permit which have not heretofore been performed by <br />Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties', which <br />aze to be substituted for the Performance and Financial Warranties heretofore filed by the Permittee, <br />effective upon the release of the latter Warranties. <br />4. Successor represents to the State that, to the best of its latowledge, 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 th the State of Colorado. <br />Pennittee and Successor hereby request the 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 th place of the Warranties presently on file with the State. <br />