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