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PERFORMANCE WARRANTY <br />Permittee: Coulson Excavating Company, Inc. <br />Operation: Stroh Pit <br />Permit No: M-2002-078 <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S. 34-32-101 et sue. (the <br />"Act"), as amended, and the Colorado Land Reclamation Act for the Extraction of Construction <br />Materials, C.R.S. 34-32.5-101 et sue. (the "Act"), as amended, provides that no permit maybe issued <br />under the Act until the Mined Land Reclamation Board (the "Board") receives a performance <br />warranty (or warranties) that is a written promise to comply with all applicable requirements of the <br />Act. <br />WHEREAS, Coulson Excavating Company, Inc. (the "Pennittee"),has applied for a permit to <br />conduct a mining operation lmown as Stroh Pit (the "Operation") on certain lands in Larimer County, <br />Colorado. These lands are described in the permit application, as amended and supplemented, and <br />aze referred to herein as 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 <br />to time. <br />WHEREAS, the Boazd has determined, in accordance with the Act, that the estimated costs <br />of reclamation with regazd to those affected lands in Larimer County which are now or may become <br />subject to the permit are those amounts for the stated periods of time as set forth in the fmancial <br />warranty, which may be amended from time to time to reflect revised estimates of said costs of <br />reclamation. <br />WHEREAS, the Permittee hereby gives the Board a performance warranty pursuant to <br />Section 34-32-117(2) or Section 34-32.5-117(2) of the Act, and herein promises the Boazd that it will <br />comply with all applicable requirements of the Act with regard to those Affected Lands. <br />