Laserfiche WebLink
-a- <br />If the Boazd shall notify the Warantor that the Operator is in default, and if the Board shall initiate anv Financial <br />Warranty forfeiture procedures required by law or regulation, the Warrantor may, in lieu of making payment to <br />the Board of the amount due hereunder. cause the reclamation to be timely performed in accordance with all <br />requirements of the Act and all applicable rules and regulations. In such event. when and if the reclamation has <br />been lonely performed to the satisfaction of the Board or Division, this Financial Warranty shall be released. <br />If the reclamation shall not be so performed to the satisfaction of the Board or Division. this Financial Warranty <br />shall remain in full force and effect. <br />This Financial Warranty shall be subject to forfeiture.whenever the Board determines that any one or more of <br />the following circumstances exist: <br />1. A Cease and Desist Order entered pursuant to Section 34-32- l24 of the Act has been <br />violated, and the corrective action proposed in such Order has not been completed although ample time to have <br />done so has elapsed; or <br />2. The Operator is in default under its Performance Warranty, and such default has not been <br />cured, although written notice and ample time to cure such default has been given; or <br />3. The Operator and/or the Warrantor has failed to maintain its Financial Waaanry in good <br />standing as required by the Act; or <br />4. The Warrantor no longer has the financial ability to carry out its obligations in <br />accordance with the Act. <br />The description of lands herein is for convenience of reference only, and no error in such description, nor any <br />revision of the permitted mining area, nor the disturbance by the Operator of lands outside of the permitted <br />mining azea shall alter or diminish the obligations of the Operator and/or Warrantor hereunder, which shall <br />extend to the reclamation of alI such lands disturbed. <br />If this Financial Warranty applies to National Forest System lands, and if this Financial Warranty is accepted <br />by the United States Forest Service ("U.S.F.S.") as the bond required under 36 C.F.R 252.13, then the Operator, <br />having requested that the Board and the U.S.F.S. accept this single Financial Warranty in lieu of the separate <br />bonds which would otherwise be required by applicable law, hereby agrees that, notwithstanding any other <br />provision hereof; or of law, this Financial Warranty shall remain in full force and effect until U.S.F.S, has <br />advised the Board by written notice that the Operator's obligations to U.S.F.S., for which this Wamnty is <br />executed, have been satisfied, and until the financial warranty has been released by the Board. <br />If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land Conunissioners <br />("Land Board"), and if this Financial Warranty, in whole or in part, is accepted by the Land Board as the bond <br />required under its applicable law and procedures, then the Operator, having requested that the State accept this <br />Financial Warranty itt 6eu of the separate bonds which would otherwise be required by the Colorado Mined Land <br />Reclamation Board or Division of Minerals and Geology and by the Land Boazd, hereby agrees that, <br />notwithstanding any other provision hereof, or of law, this Financial Warranty shall remain in full force and <br />effect until the Board is notified in writing by the Land Boazd that the Operator's obligations to the Land Board, <br />for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by <br />the Board. <br />