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. '. <br /> <br />NOW, THEREFORE, The conditions of this obligation are <br />open mining <br />such that if the operator shall, in conducting such said and gravel <br />operations, faithfully perform the requirements of the reclamation <br />plan, the provisions of the application approved by the ]fined Land <br />Reclamation Board, and the conditions of the permit issued to en- <br />gage in open mining sand & gravel operations by the Mined Land Reclama- <br />tion Board, relating to the Colorado Mined Land Reclamation Act, <br />as amended (1976 Sess Laws H.B. 1065) and the Rules and F:egulations <br />adopted pursuant thereto, upon the Mined Land Reclamation Board <br />making a finding that the lands described above, or any F~ortion of <br />such lands have been satisfactorily reclaimed and approving the <br />Operator's request for release of this surety on such lands, or <br />any portion thereof, then this obligation shall be exonerated and <br />discharged either in full or in part and become null and void; <br />otherwise to remain in full force and effect. <br />PROVIDED, However, the operator shall not be liable under <br />this surety agreement for an amount gxeater in the aggregate than <br />the sum designated in the first paragraph hereof, unless increased <br />by a later amendment to this surety agreement. This surety agree- <br />ment shall be reviewed by the Board from time to time, is accord- <br />ance with the provisions of the Act, and the Board may reluest an <br />increase in the face value of this surety agreement to cover in- <br />creases in the costs of reclamation. In the event the effective <br />dates of this surety expire before the Board finds the lands de- <br />scribed above to have been satisfactorily reclaimed, then on or <br />before such expiration date the Board shall make a demand for pay- <br />ment on the surety submitted to it pursuant to this agreement to <br />the proper parties and use such funds to perform the nece:>sary <br />reclamation operations unless the operator files a substitute <br />surety acceptable to the Mined Land Reclamation Board which <br />specifically assumes liability for all obligations for a11. <br />open mining sand and gravel operations. <br />-2- <br />