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'~ <br />~1 <br /> -a- <br />' <br /> If demand is made upon the Warrantor for payment of an amount due to the Board <br /> hereunder, and if the Warrantor fails to make payment of such amount within <br />' ninfaty (90) days after the date of receipt of such demand, or if it should <br /> thereafter be determined, by agreement of the Warrantor or by final judgment <br /> of court, that the amount demanded was properly payable, the Warrantor agrees <br /> to pay to the Board, in addition to the amount demanded, interest at the prime <br /> rates in effect fr•am time to time at The United Bank of Denver for the period <br /> commencing at the end of such ninety-day period and ending on the date of <br /> actual payment. <br /> <br /> If the Board shall notify the Warrantor that the Operator is in default, and <br /> if i:he Board shall initiate and Financial Warranty forfeiture procedures <br /> required by law or regulation, the Warrantor may, in lieu of making payment to <br />' the Board of the amount due hereunder, cause the reclamation to be timely <br /> performed in accordance with all requirements of the Act and all applicable <br /> rules and regulations. In such event, when and if the reclamation has been <br />' timely performed to the satisfaction of the. Board or Division, this Financial <br /> Warranty shall be released. If the reclamation shall not be so performed to <br /> the satisfaction of the Board or Division, this Financial 'Aarranty shall <br />~~ remain in full force and effect. <br /> This Financial Warranty shall be subject to forfeiture whenever the Board <br /> determines that and one or more of the following circumstances exist: <br /> 1. A Cease and Desist Order entered pursuant to Section 34-32-124 <br /> of the Act has been violated, and the corrective action proposed in such Order <br />t has not been completed, although ample time to have done so has elapsed; or <br /> 2. The Operator is in default under its Performance Warranty, and <br /> such default has not been cured, although written notice and ample time to <br />' cure such default has been given; or <br /> 3. The Operator and/or the Warrantor has failed to maintain its <br />t Financial Warranty in good standing as required by the Act; or <br /> 4. The Warrantor and/or Operator no longer has the financial <br />' ability to carry out its obligations in accordance with the Act. <br /> The description of lands herein is far convenience of reference only, and no <br />' errror in such description, nor and revision of the permitted mining area, nor <br />the disturbance by the Operator of lands outside of the permitted mining area <br /> shall alter or diminish the obligations of the Operator and/or Warrantor <br /> hereunder, which shall extend to the reclamation of all ;uch lands disturbed. <br />' If this Financial Warranty applies to National Forest System lands, and if <br /> this Financial Warranty is accepted by the United States Forest Service <br />' ("U.S.F.S.") as the bond required under 36 C.F.R. 252.13, then the Operator, <br />having requested that the Board and the U.S.F.S. accept this single Financial <br /> Warranty in lieu of the separate bonds which would otherwise be required by <br /> <br /> <br />