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-2- <br /> NOW, THEREFORE, The conditions of this obligation are such that if the <br /> above bounded Principal shall, in conducting such Sand and Gravel <br /> operations, faithfully perform the requirements of the <br /> reclamation plan, the provisions of the application approved by the Mined <br /> Land Reclamation Board, and the conditions of the permit issued to engage <br /> in Sand and Gravel operations by the Mined Land Reclamation <br /> Board, relating to the Colorado Mined Land Reclamation Act, as amended <br /> (1976 Sess. Laws H.B. 1065) and the Rules and Regulations adopted pursuant <br /> thereto, upon the Mined Land Reclamation Board making a finding that the <br /> lands described above, or any portion of such lands have been satisfactorily <br /> reclaimed and approving the Operator's request for a bond release on such <br /> lands, or any portion thereof, then this obligation shall be exonerated <br /> and discharged and become null and void; otherwise to remain in full force <br /> and effect. <br /> PROVIDED, However, the Surety shall not be liable under this Bond for an <br /> amount greater in the aggregate than the sum designated in the first <br /> paragraph hereof, unless increased by a later amendment to this Bond. <br /> This Bond, shall be reviewed by the Board from time to time, in accordance <br /> with the provisions of the Act, and the Board may request an increase in <br /> the face value of this Bond to cover increases in the costs of reclamation. <br /> The Surety shall not be liable as respects any obligation related to <br /> Sand and Gravel and reclamation operations performed after the <br /> effective date of a cancellation of this Bond pursuant to the terms of <br /> C.R.S. 1973, 34-32-117(3) , as amended (1976 Sess. Laws H. B. 1065) . This <br /> Bond shall remain in force and effect as respects all obligations for <br /> all Sand and Gravel and reclamation operations performed <br /> prior to the effective date of such cancellation unless the Principal files <br /> a substitute bond which: 1) assumes liability for all obligations for <br /> all Sand and Gravel and reclamation operations performed during <br /> the effective dates of this bond; and 2) is acceptable to the Mined Land <br /> R,clariation Board; or unless the Mined Land Reclamation Board otherwise <br /> icleascs this surety. <br />