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-4- <br />N. RECTTAIS <br />1. On~' / ( ~ l Permit Number ~1 -I~~~D~/lo was granted to <br />'~_oinPS V ar~ ~QC,~tr v I`i/'~ (~7~ (existirngoperator)("Permittee"),Puzsva~towlrichPe~mittee <br />has bece conducting a mining operation in the County of 1 /; /~i /h PJ~ .State of Colorado. <br />2. Permit[cewishestoastigothepermitto 1-'iN~~~"=~/Y,~,Rl;(~/]r~~r/f~rflP~~i !./~', (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittce under the <br />permit <br />3. Successor>mderstandsthatthereclamationplan(the"Plan'~requiredbythepermitsndbyapplicab]estate <br />laws and regulations has not been completed andis willing to assume full tesponsibilityfor the rnmpletion oftbePlaa <br />V. <br />Permittee and Successor hereby agree, for therr own benefit mrd for the benefit of the State, such agrecmems to be <br />effectiveigso_ ~ upon the approval by the State ofthe transfer of the Permit from Permittce to Sum asfoIlows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware of <br />the conditions thereof Successor imderarundc and accepts all of the conditions of the Permit <br />2. Successor wilic~mpletetherec]amationplan,®dherebyassumesliabilityforcomp]etingsuchplenastoall <br />azees heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all ofthe obligations of <br />the Permittee under the Petmit which have not heretofore been performed by Permittce. <br />3. Stsxtessor hereby tenders to the State its attached Performance and Financial Watrantiess, which are to be <br />substituted for the Performance aadFinancial Warranties heretofore Sled bythe Permittee, effective upon the release <br />ofthe latter Warranties, <br />4. SuccessorrepreveolstotbeStatetlrat,tothebestofitsknowledge,mformationandbelie~itisnotinviolation <br />of a~ ofthe provisions ofthe ColoradoMmed Land reclamation Act with respect to anq other operationcenductedby <br />it in the State of Colorado. <br />Petmittee and Succevsorhereby requLStthe State to consent to the assignme~ of the Permit, mrecognize Successor as <br />Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial Warranties in <br />place of the Warranties presently on Ste with the State. <br />