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• The amount of tats Fin,mc;al W'atrs~ty is based "orator's obl'tgatione to omplete reclamation and to comply <br />operate to Ilquidmc, lima. enlarge or tcstric[ flit Op <br />in all rcpocts with the pmtut and with appiicable laws and rea'uladons govemmg reclamation. oven though the <br />octual cost titcrcof may substantially c~ccad the amo~utt of this Financial Watrnncy'. <br />'['hc Wturancor shall notbe Gable undo this Financial Warranty for an amount gnatu dtnn the sum designated <br />herein, unless incrwsui by a later amcndmrnt~e Boud to }~At4 n anRnoTeueFin the principal sum aCthis <br />rovicwcd by the Board from time to time, <br />Financial W artanty (and a corresponding increase in the surety amount) to cover il:ett:a5ea in the estimat costs <br />of redamauon, but no such increase shrill bind tl:e Warrantor unless and until it shall have consented thereto in <br />writing by the issuance of m additinnnl Financial Wartanty or 6y an endorsement to this Financial Wartanty <br />vasary date, and <br />'fbc Warrantor tCSCtveS the nzht to cancel this Futencisl Warranty, affective ooly upon an attm <br />mailed b Certified Moil. at least Wintry (90) dr}s price' to such <br />only by giving written notice to that cfftci, Y <br />anniversary dart, addressed to both the Operator at itt address herein stated, and to the Board at dies ad ass <br />herein stated. In tiro event of such emccllahon, this F'rnann r ~ ~ effective cLUe of such eman d{adon, trriloess <br />~ cg'et2 as respects d;c reclamation of sU areas disturbrd P which: (1) assumes IiabiGty for all reclamation <br />and until dtc Operator shall file a substitute Financial W arrrrrty is in force; and (2) is accepted in <br />obligations wi7ch shall have arisrn at any time while this Financial Warranty . <br />writing by tllt Board. <br />:» dtc cvrnt of such cancclladau, if tiro Financial Warranty a not fully released, the amount of the continuing <br />Fitrarui.d Warranty available fot the reclamation of arras disturbem comu~c such~cclantauaoa (which tlarrwunt <br />• shall be fixed by the Board at the amount it dettrmiaes necessary P~ <br />ntny not eeccend the st:m desir~tatcd herein) and tiro Board shalt coacunendy identify such arras in writing, and <br />notify tiro Warrantor cad the Operator dtercof. I7tereaftv, the obligation of flit Wenwttor shall be limited to <br />reclamation of the areas so identified <br />The coosidecation for the Wartan[or's u~ecution of this agreement is the promise of the Opantor to pm' the <br />premiums, but failure by the Operator to pay such premiums shall not invalidate or diminish the Warnators <br />obligation hereunder. <br />TGe Board may make dtmaad upon the Wattantor for payment hereunder if the Board deteratines that <br />redamaron which aught to have been performed by the Operator, or its successors or assigns, remains <br />unpcrfomed. and if Financial W;tn arty forfeitures psvrcdura requital by law have been initiated. No atper <br />corrditiou pcaalmt nod be fulfilled to entide the State to eneded f ereclxrwtion stall Ve (esslthan the amount <br />completion of ceeiamatioa try the State, the amounts e:ep <br />received from the Warrantor, Utc esters shall be p[ompdy «funded to the Warrantor. <br />If demand is made upon the Warrantor for payment of an amount due to the Board hereunder, and if the <br />Warrantor Earls to make Dyymcnt of such amount within ninety (90) days after the date of reecipl of such <br />dcmltd, or if it should thucaRcr be dcurmitt 61e ~ W ~~tt« ~ ~ t~~, t gte Board, in addition ro the <br />drat the antaunt dcm~rtded was p op P Y <br />aa)otmC dClnandtd, attCCe]C at dle pNrle rate LLl CfFG~~t~~1~e~;~ n ~ ~~ fm~~ p ~~va far e <br />period commencing at the tad of such ninety-day p <br /> <br />