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• <br />-2- <br />NOW, THEREFORE, the Permittee hereby promises the Board that it will comply with all applicable <br />requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. <br />FURTHER, the Permittee hereby promises the Board that it will comply with all of the terms of the <br />application for a permit, as amended and supplemented, as well as any conditions attached [o the permit by <br />the Board. <br />FURTHER, the Permittee promises the Board, pursuant to 34-32-112(2)(d) or 34-32.5-112(1)(c)(iv) <br />of the Act, that it has the lawful authority to enter upon the Affected Lands to conduct mining operations, <br />including, but not limited to, reclamation. The Permittee further recognizes the right of the Board to enter to <br />reclaim lands affected by the operation. <br />The description of lands herein is for convenience of reference only, and no error in such description, <br />nor any revision of the permitted mining area, nor the disturbance by the Warrantor of lands outside of [he <br />permitted mining area shall alter or diminish the Permittee's obligation hereunder, which shall extend to the <br />reclamation of all such lands disturbed. <br />The obligation of the Permittee hereunder is such that, if the Permittee shall successfully comply with <br />the requirements of the Act, applicable rules and regulations, and the permit, [hen the Board, upon a finding <br />that the Permittee has so complied, shall release this performance warranty, and the Permittee from its <br />obligation hereunder, to the extent that the Board determines that such compliance has been accomplished. <br />The obligation of the Permittee hereunder shall continue until released in whole or in part by the Board in <br />accordance with applicable law. <br />in further satisfaction of the requirements of the Act, the Permittee promises to be responsible for the <br />cost of reclamation up [o the amount established by the Board and has attached hereto its financial warranty, <br />which may be amended from time to time. The Permittee agrees that it will maintain a financial warranty (or <br />warranties) for the estimated costs of reclamation in good standing for the entire life of the permit. Please note <br />that under the provisions of the Colorado Mined Land Reclamation Act and the Colorado Land Reclamation <br />Act for the Extraction of Construction Materials, any Applicant or Permittee that submits proof, acceptable <br />to the Board or Division of Minerals and Geology, that an Applicant or Permittee is a unit of County or <br />Municipal govemment, or is a department or division of State government, the Applicant or Permittee is not <br />required to submit or post any other instrument of financial responsibility but hereby promises to be <br />responsible for [he cos[ of reclamation up [o the amount specified by the Board. <br />If the Board determines that the Permittee is in default under this performance warranty and has failed <br />[o cure such default, although written notice of such default and ample time to cure such default have been <br />given, the Permittee's financial warranty shall be subject to forfeiture. <br />