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GENERAL38445
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Last modified
8/24/2016 7:58:13 PM
Creation date
11/23/2007 9:40:43 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1980004
IBM Index Class Name
General Documents
Doc Date
5/13/2002
Doc Name
MINE PLAN DECISION LETTERS OF CONCURRENCE TO STATE PERMIT
Permit Index Doc Type
Other Permits
Media Type
D
Archive
No
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_3_ <br />• <4) The obligation of the Bank shall continue until released in <br />writing by the State, with the concurrence of OSMRE, in accordance with <br />applicable laws specifying bond release procedures. The parties understand <br />that periods of years may necessarily be required before determination can be <br />made that reclamation work has been satisfactorily completed. No revision, <br />extension or renewal of the Operator's mining permit or of the time allowed <br />the Operator to complete reclamation shall diminish the Bank's obligation <br />under its Certificate of Deposit. <br />(5) The State may present for payment any Certificate of Deposit held <br />hereunder and convert the same to cash if the Board or the Division determines, <br />and the OSMRE concurs, that reclamation which ought to have been performed by <br />the Principal, or its successors or assigns, remains unperformed. No other <br />condition precedent need be fulfilled to entitle the State to receive the <br />amount of any such Certificate. However, if upon completion of such <br />reclamation, the amounts expended for reclamation shall be less than the <br />amount received from the Bank, the excess shall be promptly refunded to the <br />Principal. <br />(6) <br />A. Interest on Certificates <br />surety hereunder and shall be evidenced <br />the increased amounts or by the deposit <br />• certificates representing the interest. <br />bond will he automatically increased fry <br />interest. <br />of Deposit shall become additional <br />either by replacement certificates in <br />with the 01vi5ion of additionai <br />In either event, the amount of this <br />~m time to time by the amount'of such <br />XXXXB. Interest on Certificates of Deposit shall not be State or <br />United~States of America funds. Principal shall be entitled to receive all <br />such interest. <br />(7) Principal may, from time to time, withdraw a Certificate of <br />Deposit which is .Surety hereunder if and to the extent that a substitute <br />Certificate of Deposit is simultaneously deposited as Surety hereunder in the <br />same amount as the Certificate withdrawn. <br />(8) (a) If this bond applies to National Forest System lands, and if <br />this bond is accepted by the United States Forest Service ("U.S.F.S.") as the <br />bond required under 36 C.F.R. 252.13, then, the Principal and the Surety <br />having requested that the State and the U.S.F.S, accept this single bond in <br />lieu of the separate bonds which would otherwise be required by applicable <br />law, hereby agree that, notwithstanding any other provision hereof, or of law, <br />this bond shall remain in full force aad effect until U.S.F.S. has advised the <br />State that the reclamation work has been satisfactorily completed ir. <br />accordance with the requirements of applicable Federal law and regulations. <br />• <br />
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