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Revised, July 15, 1992 <br />RULE 3 PERFORMANCE BOND REQUIREMENTS <br />3.01 Introduction <br />This rule sets forth the minimum requirements and responsibilities <br />for filing and maintaining performance bonds for surface coal <br />mining and reclamation operations. This rule includes minimum <br />requirements for determining amounts and periods of liability for <br />performance bonds. Likewise, it establishes minimum standards for <br />the form, conditions, and terms for performance bonds. <br />3.02 Performance Bond Requirements for Surface Coal Minina and <br />Reclamation Operations <br />Colowyo initially provided a Corporate Surety Reclamation Bond in <br />the amount of $4,500,000 on November 4, 1982 to cover its bonding <br />liability of $4,311,643. On January 15, 1986 Colowyo submitted a <br />Rider to its existing bond increasing the bonded amount to <br />$5,500,000, in response to the midterm review process. <br />At permit renewal Colowyo provided a Rider to the bond, effective <br />August 21, 1987, which increased the bonded amount to $8,747,405. <br />The bond liability resulting from the August 21, 1987 permit <br />renewal and the October 1987 Bond Release approval was $6,814,597. <br />The technical revision for the mining of Section 11 required an <br />additional bond liability of $1,314,000, resulting in a revised <br />bonding liability of $6,814,597 leaving a remaining contingency of <br />$618,808. <br />Estimated reclamation costs for the existing and planned <br />disturbance in the East Pit, Section 16 Pits and facilities areas <br />during the 1992-1997 permit term is $13,412,702. Additional <br />liabilities include $221,363 for Phase I and Phase II release areas <br />and $4,117,250 for future West Pit expansion. The total liability <br />is estimated at $17,751,315. <br />3.01-1 <br />