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<br />STATE OF COLORADO <br />Roy Romer, Govei <br />DEPARTMENT OF NATURAL RESOURCES <br />MINED LAND RECLAMATION DIVISION <br />FRED R. BANTA, Director <br />PERFORMANCE WARRANTY <br />Operator: Fountain Colony Investment Co. <br />Operation: Fountain Colony Pit <br />Pernlit No: M-67-171 <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S., 34-32-101 <br />et ~segg. (the "Act"), as amended, provides that no permit may be issued under <br />$ie~ct until the Mined Land Reclamation Board (the "Board") receives a <br />performance warranty (or warranties) that is a written promise to comply with <br />all applicable requirements of the Act. <br />WHEREAS, Fountain Colony Investment Co. (the "Operator"), has app7led <br />fora permit to conduct a mining operation known as Fountain Colony Pit (the <br />"Operation") on certain lands in E1 Paso County, Colorado. These lands are <br />described in the permit application, as amended and supplemented, and are <br />referred to herein as the "Affected Lands." <br />WHEREAS, in its application for the permit, the Operator has agreed to <br />be bound by all requirements of the Act and all applicable rules and <br />regulations of the Board, as amended from time to time. <br />WHEREAS, the Board has determined, in accordance with the Act, that the <br />estimated costs of reclamation with regard to those affected lands in E1 Paso <br />County which are now or may become subject to the permit are those amounts for <br />the stated periods of time as set forth in the financial warranty, which may <br />be amended from time to time to reflect revised estimates of said costs of <br />reclamation. <br />WHEREAS, the Operator hereby gives the Board a performance warrantiy <br />pursuant to Section 34-32-117(2) of the Act, and herein promises the Board <br />that it will comply with all applicable requirements of the Act with regard to <br />those Affected Lands. <br />NOW, THEREFORE, the Operator hereby promises the Board that it will <br />comply with all applicable requirements of the Act and rules and regulations <br />of the Board with respect to the Affected Lands. <br />FURTHER, the Operator hereby promises the Board that it will comply <br />with atl of the terms of the application fora permit, as amended and <br />supplemented, as well as any conditions attached to the permit by the Board. <br />423 Centennial Building, 1313 Sherman Street Denver, Colorado 80203-2273 Tel. (303) 866-3567 <br />