2007-06-07_PERMIT FILE - M2007021

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- 4 - 2. The Operator is in default under its Performance Warranty, and such default has not been cured, although written notice and ample time to cure such default has been given; or the Act; or 3. The Operator has failed to maintain its Financial Warranty in good standing as required by 4. The Financial Warrantor no longer has the financial ability to carry out its obligations in accordance with the Act. The description of lands herein is for convenience of reference only, and no error in such description, nor any revision of the permitted mining area, nor the disturbance by the Operator of lands outside of the permitted mining azea shall alter or diminish the obligations of the Warrantor and/or the Operator hereunder, which shall extend to the reclamation of a1] such lands disturbed. If this Financial Womanly applies to National Forest System lands, and if this Financial Warranty is accepted by the United States Forest Service ("U.S.F.S: ') as the bond required under 36 C.F.R. 228. t 3, then the Operator, having requested that the Board and the U.S.F.S, accept this single Financial Warranty in lieu of the separate bonds which would otherwise be required by applicable law, hereby agrees that, notwithstanding any other provision hereof, or of law, this Financial W atranty shall remain in full force and effect until U.S.F.S. has advised the Board by written notice that the Operators obligations to U.S.F.S, far which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the Board. If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land Commissioners ("Land Board"), and if this Financial Warranty, in whole or in part, is accepted by the Land Board as the bond required under its applicable law and procedures, then the Operator, having requested that the Board accept this Financial Warranty in lieu of the separate bonds which would otherwise be required by the Colorado Mined Land Reclamation Boatel or Division of Reclamation, Mining and Safety and by the Land Board, hereby agrees that, notwithstanding any other provision hereof, or of law, this Financial Warranty shall remain in full force and effect until the Board is ttotified in writing by the Land Board that the Operators obligations to the Land Boatel, for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the Board. If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management, United States Department of the Interior (the "BLM"), and if at the request of the Operator on this Financial Warranty the BLM has, pursuant to 43 C.F.R. 3809.1-9, accepted this Financial Warranty in lieu of requiring a separate reclamation bond payable to the Untied States, then, notwithstanding any other provision of this Financial Warranty, or of law, the Operator hereby agrees that this Financial Warranty shall not be released until the Board is advised in writing by the BLM that the Operators obligations to the BLM, for which this warranty is executed, have been satisfied, and until the financial warranty has been released by the Board.