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-4- <br />IV. RECITALS <br />I. On , ~(70 D Permit Number ~~c~GY10 -002 was granted to <br />~f)/~llf Pi2r7r'll y (.o,U P,eaTEy i tIL (ex,.isting operator) ("Permittee"), puisuant to <br />which Pertnittee has been conducting a mining operation in the County of f} 0 RrYt S .State <br />of Colorado. <br />2. Permittee wishes to assign the permit to Lafarge West, Inc. <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") 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 />Petmittee and Successor hereby agree, for their own benefit and for the benefit of the State, such <br />agreements to be effective !~ act upon the approval by the State of the transfer of the Permit from <br />Pemrittee to Successor, as follows: <br />1. Successor has inspected the minutg and reclamation operations to its entire satisfaction and is fully <br />aware 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 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 />all of the obligations of the Pemuttee under the Permit which have not heretofore been performed by <br />Pennittee. <br />3. Successor hereby larders to the State its attached Performance and Financial Warrantless, which <br />are to be substituted for the Performance and Financial Warranties heretofore filed by the Pertnittee, <br />effective upon the release of the latter Warranties. <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 ofthe provisions of the Colorado Mined Land reclamation Act with respect to any other <br />operation conducted by it in the State of Colorado. <br />Permittee and Successor hereby request the State to consent to [he 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 W arrartties presently on file with the State. <br />