1998-04-06_REPORT - M1996008 - Laserfiche WebLink

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FES-15-iE 10:32AM FROM-LINDEN COMJ& OF GJ +970245801E T-031 P.OT/II F-077 WASHINGTON INTERNATIONAL WHEREAS, the Operator and INSURANCE COMPANY (the 'Warrantor"). a corporation organized and existing under the laws of the State of ARIZONA and duly authorized to transact a bonding and sure tyry business in the State of Colorado are hereby and firmly bound SIXTEEN THOUSAND THREE HUNDRED unto the State in the stun of aLU=Y THRE nnr i mm x can i i nn Dollars ($]6.'A93.00 1 for the Iife of mine or until such time as replacement Is received, for the payment of which sum, well and truly made, we hereby bind ourselves and our personal representatives, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the Board has determined, in accordance with the Act, that the estmated costs of reclamation of the Affected lands are those amounts for the stated periods of time as set tab herein. Said amount may be amended from time to time to reflect revised estimates of said costs of reclamation. WHEREAS, the Operator and the warrantor, in accordance with the Act,has promised and hereby promises the Board that it will be responsible for all the estimated costs of reclamation with regard to the Affected Lands. WHEREAS, the Board has determined that this Financial Warranty by the Warrantor equals the estimated costs of reclamation, as approved by the Board, with regard to the Affected Lands. NOW, THEREFORE, the Operator and the War rotor are held hereby firmly unto the Sate of Colorado in the amount of those smuts for those periods of time as set forth herein, until this Financial Warranty is amended or released in accordance with applicable law. The Board may, for good cause shown, increase or decrease the amount and duration of this Financial Warranty. The Operator shall have sixty (60) days after the date of notice of any such adjustment to increase the surety amount, but no such increase shall bind the Warrantor unless and retail it wall have consented thereto in writing by the issuance of an additional Financial Warranty or by an endotwnent to this Financial Warranty. The Operator and the warrantor shall notify the Board immediately of any event which may impair this Financial Warranty. If the Board meeives such notice, or otherwise has reason to believe that this Financial Warranty his been materially impaired, it may eomeae a hearing in accordance with the Act for the purpose of determining whether impairment has occurred. The obligation of the Operator and the Warrantor shall contitae until the Board has released this Finmcial Warranty or bas ordered it forfeited in accordance with applicable provisions of the Act. It is understood thin periods of years may necessarily be required before damn inafon can be made tbat reclamation of the Affected Lands has been satisfactorily completed. u is also recognized that, as reclamation is accaaaplishod, the atrium of this Financial Warranty may be reduced with the approval of the Board so that it r4eets the then current estimated can of the remaining reclamation of the Affeaad Leads. No revision.extension,or renewal of the permit,or of the time allowed w complete re-anation, shall diminish the Operator's or Warrantor's obligation under this Financial Warranty. No tmsrepresentadon by the Operator which may have induced the Warrantor to execute this Financial Warranty shall be any defense to demand by the State under this agreetnent. In any tangle year during the life of the pe tnit, the amomm of the Frna=W Warranty shall to exceed Ibe estimated cost of fully reclairtiing all lands to be affected in said year. phis all lands atttnted in previous permit years and trot yes fully reclaimed. Redarrotion costs shall be computed with sdetsace to cmrreat reclamation casts.