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-2 - <br /> NO W,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 to the permit by the <br /> Board. <br /> FURTHER,the Permittee promises the Board, pursuant to 34-32-112(2)(d)or 34-32.5-1 12(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 the <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,then the Board,upon a finding that <br /> the Permittee has so complied, shall release this performance warranty,and the Permittee from its obligation <br /> hereunder,to the extent that the Board determines that such compliance has been accomplished. The obligation <br /> of the Permittee hereunder shall continue until released in whole or in part by the Board in accordance with <br /> 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 to 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 Act <br /> for the Extraction of Construction Materials,any Applicant or Permittee that submits proof, acceptable to the <br /> Board or Division of Minerals and Geology, that an Applicant or Permittee is a unit of County or Municipal <br /> government,or is a department or division of State government, the Applicant or Permittee is not required to <br /> submit or post any other insuument of financial responsibility but hereby promises to be responsible for the cost <br /> of reclamation up to 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 /> to cure such default,although written notice of such default and ample time to cure such default have been given, <br /> the Permittee's financial warranty shall be subject to forfeiture. <br />