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• Health shall have approved the transfer of the \~PDES and Air Qualitti• Permits to <br />Picketwire. <br />3. Further Assurances. The parties hereby agree to prepare, execute and <br />deliver such additional documents as may be required by the Colorado Division of <br />tifinerals and Geology and/or the Colorado Department of Health in order to <br />consummate the complete transfer of the Permits as contemplated herein. The cost <br />of preparing such documents shall be borne by Picketwire except for internal costs of <br />processing, retrieving or reviewing information by Basin or its affiliates, and except <br />for internal costs related to executing and delivering documents by Basin. <br />4. Representations of Basin. Basin represents and warrants that the <br />Permits are current and in good standing under all Local, State and Federal laws, <br />and that it has received no notice from a governmental entity of anv condition, <br />which would constitute a violation of or require action to be taken under, anv <br />environmental lacy of a local, state or federal government. <br />5. presentations of Picketwire. Picketwire warrants and represents that <br />all necessary actions have been taken authorizing Picketwire to enter into this <br />Agreement, that entering into this Agreement will not cause Picketwire to default <br />upon or breach any other contracts, agreements, or obligations to which it is a party, <br />• and that the person signing this document is fully authorized to do so. <br />6. Assignment and Continuing Obligations. This Agreement may not be <br />assigned by Picketwire without the written approval of Basin, which approval shall <br />not be unreasonably withheld. It is mutually understood and agreed that the rights, <br />duties, and obligations created hereby shall extend to and be binding upon the <br />parties, their heirs, executors, administrators, successors and assigns, and shall <br />remain binding upon the parties in the event of assignment or other transfer of <br />interest. <br />7. Notice. Any notice required pursuant to the terms of this Agreement <br />shall be deemed valid three days after being mailed, certified mail, return-receipt <br />requested, to the following: <br />If to Basin: <br />Basin Resources, Inc. <br />16 Broadway <br />Butte, Montana X9701 <br />• <br />