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• wHER`AS, the Applicant/ erator hereby gives the Board performance warranty pursu- <br />ant to Section 7a-111(2 the Act, and herein ~mise~e Board that it will comply <br />with all applicab requi ments of the Act and ineral Rules and Regulations of the <br />Mined Land Reclamation Board-(the "Board") with respect to the Affected Lands. <br />FURTHER, the Applicant/Operator hereby promises the Board that it will comply with <br />all of the terms of the Application for a permit, as amended and supplemented, as well <br />as all conditions attached to the Pernit by the Board. or by the !lined Land Reclamation <br />Division. <br />FURTHER, the Applicant/Operator promises the Board, pursuant to 7e-72-112(2)(d) of <br />the Act, that it has the lawful authority to enter upon the Affected Lands to conduct <br />mining operations, including, but not limited to, reclamation. The Applicant/Operator <br />further recognizes the right of the Board to enter to reclaim lands affected by the <br />operation. - ' <br />The description of lands herein is for convenience of reference only, and no error <br />in such description, nor any revision of the pec-iitted mining area, nor the disturbance <br />of lands outside of the per-nitted mining area by the Applicant/Operator shall alter or <br />diminish the Applicant/Operator's obligation hereunder, which shall extend to the recla- <br />mation of all Affected Lands. <br />The obligation of the Applicant/Operator hereunder is such that, if the Applicant/ <br />Operator shall successfully comply with the applicable requirements of the Act, the <br />Mineral Rules and Regulations, and the Pernit, then the Board, upon a finding that the <br />Applicant/Operator has so complied, shall release this Perfoc-nance warranty, and the <br />Applicant/Operator from its obLigatior, hereunder, to the extent that the Board deter-lines <br />that such compliance has been accomplished. The obligation of the Applicant/Operator <br />hereunder shall continue until released. in whale or in part by the Board in accordance <br />with applicable law.. <br />In further satisfaction of the.~requirements of the Act, the Applicant/Operator has <br />attached hereto it's Pinancial" warranty, which may be amended from time to time. The <br />Applicant/Operator agrees that it will maintain a financial warranty (oc warranties) for <br />the required amount in good standing for the enkire life of the permit. <br />If the Board determines that the Applicant/Operator is in default under' this Per.`or- <br />mance warranty and has failed to cure such default, although written notice of such <br />default and ample time to cure such default have been given, the Applicantl0perator's <br />Financial warranty shall be subject to Forfeiture. <br />This Perfornanee Warranty may be executed in multiple copies, each of which shall be <br />treated as an original, but together they constitute only one agreement; the validity <br />and inter-,iretation of which shall be governed by the laws of the State of Colorado. <br />8276v -11- ` <br />