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-~- The amount of this Financial Warranty is based upon estimates as to the cost of reclamation. and does not operate to liquidate, limit. enlarge or restrict the Operator's obligations to complete reclamation and to complc in all respects with the permit and with applicable laws and regulations governing reclamation. even though the actual cost thereof may substantially exceed the amount of this Financial Warranty. The Warrantor shall not be Gable under this Financial Warranty for an amount Beater than the sum designated herein, unless increased by a later amendment to this Financial Warranty. This Financial Warrann• shall be reviewed by the Board from time to time, and the Board may require an increase in the principal sum of this Financial Warranty (and a corresponding increase in the surety amount) to cover increases in the estimated costs of reclamation. but no such increase shall bind the Warrantor unless and until it shall have consented thereto in writing by the issuance of an additional Financial Warranty or by an endorsement to this Financial WarranR. The Warrantor reserves the tight to cancel this Financial Warranty, effective only upon an anniversary date, and only by giving written notice to that effect, mailed by Certified Mail, at least ninety (90) days prior to such anniversary date, addressed to both the Operator at its address herein stated, and to the Board at the address herein stated In the event of such cancel[ation, this Financial Warranty shall nevertheless remain in full force and effect as respects the reclamation of all areas disturbed prior to the effective date of such cancellation, unless and until the Operator shall file a substitute Financial Warranty which: (1) assumes liability for all reclamation obligations which shall have arisen at any time while this Financial Warranty is in farce; and (2) is accepted in writing by the Boazd. In the event of such cancellation, if the Financial Warranty is not fully released, the amount of the continuing Financial Warranty avaitable for the reclamation of areas disturbed and unreclaimed at the date of cancellation shall be fixed by the Boazd at the amount it determines necessary to complete such reclamation (which amount may not exceed the sum designated herein) and the Boazd shall concurrently identify such areas in writing, and notify the Warrantor and the Operator ther~f. Thereafter, the obligation of the Warrantor shall be limited to reclamation of the areas so identified. The consideration for the Warrantor's execution of this agreement is the promise of the Operator to pat the premiums, but failure by the Operator to pay such premiums shall not invalidate or diminish the Warrantor's obligation hereunder. The Boazd may make demand upon the Warrantor for payment hereunder if the Boazd determines that reclamation which ought to have been performed by the Operator, or its successors or assigns, remains unperformed, and if Financial Warranty forfeiture procedures required by law have been initiated. No other edition precedettt need be fulfilled to entitle the State to receive the amount so demanded However, if; upon completion of reclamation by the State, the amounts expended for reclamation shall be less than the amount received from the Warrantor, the excess shall be promptty refunded to the Warrantor. If demand is made upon [he Warrantor for payment of an amount due to the Boazd hereunder, and if the Warrantor fails to make payment of such amount within ninety (90) days after the date of receipt of such detnand, or if it should thereafter be determined, by agreement of the Warrantor or by fmat judgment of court, that the amount demanded was properh~ payable, the Warrantor agrees to pay to the Board; in addition to the amount demanded, interest at the prime rate in effect from time to time at The United Bank of Dem er for the period commencing at the end of such ninety-day period and ending on the date of actual payment.