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i -3- IV V RFl'TTAI S 1. On 1n N. I7 ~ Permit Number rs-ts't-t,no was granted to Leeklouse (existing operator) ("Permittee"), pursuant to which Permittee has been conducting a mining operation in the County of h'~'t~l State of Colorado. 2. Permittee wishes to assign the permit to It,n-Trwin consrnic~ ton co. (new operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under 'the permit. 3. Successor understands tlkat the reclamation plan (tike "Plan") required by like permit and by applicable S1:ate laws and regulations has not been completed and is willing to assume full responsibility for the completion of tike Plan. AGREEFIENTS Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be effective ipso facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as follows: 1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware of the conditions thereof. Successor understands and accepts all of tike conditions of the Permit. 2. Successor will complete the.reclamation plan, and hereby assumes liability for completing such plan as to all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of tike obligations of the Permittee under the Permit which have not heretofore been performed 6y Permittee. 3. Successor hereby tenders to the State its attached Performance and Financial Warranties', wlkich are to be substituted for the Performance and Financial Warranties heretofore flied by the Permittee, effective upon the release of the latter Warrantees. 4. Successor represents i:o the State that, to the best of its knowledge, information and belief, ft is not to violation of any of the provisions of the Colorado Mined Land reclamal:ton Act with respect to any other operation conducted by it in the State of Colorado.