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130ND NO. 6gS1035575189CM
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<br />(3) Surety reserves the right to cancel this band, effective only upon a~ anniversary date,
<br />and only by giving written notice to that effect, mailed by certified mail, at least mnety (90) days prior
<br />to such amuversary date, addressed to bath the Principal, at its address herein stn ed, anti w the
<br />Division at 1313 Sherman Street, Room 215, Denver, Colorado 80203. Jn the e~ent of such
<br />cancellation, this bond shall uevet7lielcss remain in full force and effect as respects the reclamation of
<br />all areas disturbed prier to the effective date of such cancellation, unless and until the Principal shall
<br />&le a subaitute battd which: (1) assumes liability for all reclamation obligatianc which shah have
<br />arisen at any time while this bond is in force, and (2) is accepted in writing by the Beard or Division.
<br />(4) In the event Df such cancellation, if the bond is not fully released, the amount of the
<br />continuing bond available fox the reclamation of areas disturbed and unreclaimed,at the date of
<br />cancellation, shall be fixed by the Board or the Division at the amount it determines necessary to
<br />complete such reclamation (which amount may net exceed the sum designated in the first paragraph
<br />hereof) and the Board or Division shall concturently identify such areas in wilting, and notify the
<br />Principal and the suety thereof. Thereafter, the obligation of the sarety shall be limited to reclamation
<br />ofthe areas so identified.
<br />(5) The consideration for surety's execution of this agreement is the p#omise of the
<br />Frincipal to pay the premiums, but failure by the Principal to pay such premiums shall not invalidate
<br />or diminish surety's obligation hereunder.
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<br />(ti) The description of lands herein set forth is for convenience of reference only, and no
<br />error in such description, nor any revision of the permitter) mining area, nor the disturbance by the
<br />Principal of ]ands outside of the permiked mining area shall altar or diminish the obligation of the
<br />Principal or the surety hereunder, which shall extend to the reclamation of all such lands disturbed.
<br />(7) The obligation of this bend shall continue (unless cauccllcd puxsuent to paragapls (3)
<br />hereof) until released in writing by the State, with.the concurrence of 05MRE, in accordance with
<br />applicable lawn specifying bond release procedures,, The,parties understand that periods Of years may
<br />necessarily be required before determination can be made that reclamation work has been
<br />satisfactorily completed. 13n revision, extension, or renewal of the Operator's mining permit, or Df the
<br />time allowed the Operator to complete reclamation shall diminish,surety's obligation hereunder. No
<br />misrepresentation by the Principal which may have induced the surety to execute~this band shall be
<br />any defense to demand by the State under this agreement,
<br />{8) The surety will give prompt written notice, mailed by certified mail,, W tlu Principal, at
<br />its address herein stated, and to the Division at 1313 Sherman 5lreet, Room 21 S, Denver, Galorado
<br />80203, of any notice received or acliun filed alleging the insolvency or banJxruptey of the eurety, or
<br />alleging any violations of regulatory requirements which could result in suspension or revocation of
<br />the surety's license to do bu ;ina.s.
<br />() Tn the event fbe. sae becomes unable
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<br />reason, .wntten notice shall be mailed iminediately,byfo,fu)fill, its obligations,under the bond for any
<br />eeitified mail, to the Principal and the Division.
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