2005-10-12_PERMIT FILE - M1998059

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- 4 - 2. The Operator is in default under its Performance Warranty, and such default has not been cured, although written notice and ample time to cure such default has been given; or 3. The Operator has failed to maintain its Financial Warranty in good standing et+ trrquit+ed by the Act; or 4. The Financial Warrantor no longer has the financial ability to carry out its obligations in accordance with the Act. The description of lands herein is for convenience of reference only, and no eror in such description, nor any revision of the permitted mining area, nor the disturbance by the Operator of lands outside of the permitted mining area shall alter or diminish the obligations of the Warrantorand/or the Operator hereunder, which shall extend to the reclamation of all such lands disturbed. Lf this Financial Waranty applies to National Forest System lands, and if this Financial Watrartly is accepted by the United States Forest Service ("LT.S.F.S.") as the bond required under 36 C.F.R. 228.13, then the Operator, having requested that the Board and the U.S.F.S. accept this single Financial Warranty in lieu of the sepazate bonds which would otherwise be required by applicable law, hereby agrees that, notwithstanding any other provision hereof, or of taw, this Financial Warranty shall remain in full force and efl'ect until U.S.F.S. has advised the Board by written notice that the Operator's obligations to U.S.F.S., for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the Board. If this Financial Waranty applies to lands under the jurisdiction of the State Board of Land Commissioners ("Land Hoard"), and if this Financial Warranty, in whole or in part, is accepted by the Land Board as the bond required under its applicable law and procedures, then the Operator, having requested that the Board accept this Financial Warranty in lieu of the separate bonds which would otherwise be required by the Colorado Mined Land Reclamation Board or Division of Minerals and Geology and by the Land Boatel, hereby agrees that, notwithstanding any other provision hereof, or of law, this Financial Warranty shall remain in full fotve and effect until the Board is notified in writing by the Land BoaN that the Operator's obligations to the Land Board, for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the Board. If all or any par of the Affected Lands are under the jurisdiction of the Bureau of Land Management, United States Department of the Interior (the "BLM"), and if at the request of the Operator on this Financial Warranty the BLM has, pursuant to 43 C.F.R 3809.1-9, accepted this Financial Warranty in lieu of requiring a separate reclamation bond payable to the Untied States, then, notwithstanding any other provision of ibis Financial Warranty, or of law, the Operator hereby agrees that this Financial Warranty shall not be released until the Boanl is advised in writing by the BLM that the Operators obligations to the BLM, for which this warranty is executed, have bcen satisfied, and until the financial warranty has been released by the Board.