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iii iiiiiiiiiiiu iii ,~ <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />I l I1 Sherman 51., Room 215 <br />Denver, Colorario 80201 <br />Phone: 130J1 866-7567 <br />FA%. 110 i19J2~fl I06 <br />STATE ~ COLORADO <br />PERFORMANCE WARRANTY <br />Construction Material Operation <br />y <br />II~ f <br />DEPARTMEN'T' OF <br />NATURAL <br />RESOURCES <br /> Roy Romer <br /> _ <br />~ ~ ~ I'`11=D Governor <br /> <br />Operator: <br />Ouray Associates, LLC lames S Luchhead <br />E.ecmrve Director <br /> ~~~~ r~ ~ ~n~~ <br />L .7 Michael B. Long; <br />Division Drreclnr <br />Operation: Memphis <br />Permit No: M-97-084 ,;,,..i,.I, ;:: ;:.~,. , _...:: uze?~ <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S., 34-32.5-1O1 et sue. (the <br />"Act"), as amended, provides that no permit may be issued under the Act until the Mined Land Reclamation <br />Board (the "Board") receives a performance warranty (or warranties) that is a written promise to comply with <br />all applicable requirements of the Act. <br />WHEREAS, Ouray Associates, LLC (the "Permittee"), has applied for a permit to conduct a <br />mining operation known as Memphis (the "Operation") on certain lands in Ouray County, Colorado. These <br />lands aze described in [he permit application, as amended and supplemented, and are referred to herein as <br />the "Affected Lands". <br />WHEREAS, in its application for the permit, the Permittee has agreed to be bound by all <br />requirements of the Act and all applicable rules and regulations of the Board, as amended from time to time. <br />WHEREAS, the Board has determined, in accordance with the Act, that the estimated costs <br />of reclamation with regard to those affected lands in Ouray County which are now or may become subject <br />to the permit are those amounts for the stated periods of time as set forth in the financial warranty, which <br />may be amended from time to time to reflect revised estimates of said costs of reclamation. <br />WHEREAS, the Permittee hereby gives the Board a performance warranty pursuant to Section <br />34-32.5-117 of the Act, and herein promises the Board that it will comply with all applicable requirements <br />of the Act, and the Rules and Regulations as may be amended, with regard to those Affected Lands. <br />NOW, THEREFORE, the Permi[tee hereby promises the Board that it will comply with all <br />applicable requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. <br />~J <br />FURTHER, the Permittee hereby promises the Board that it will comply with all of the terms <br />of the application for a permit, as amended and supplemented, as well as any conditions attached to the <br />permit by the Board. <br />