2008-04-18_REPORT - M1977004 - Laserfiche WebLink

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t 1 L _2. WHE1tFAS, the Operator and Safaco Insurance Co an o~ America (the "Warrantor"), a corporation organized and e:cisting under'the taws of the State of Rasyingt on _ - - and du1~' authorized to transact a bonding and surety business in the State of Colorado are hereby and 5rtnly bound unto two Million Two 8uudrtd Sixty Three 2,269,000,00 the State is the Sutn of rnousend and no/100th9-~-------°---""-""' ~Ilars ($ . far the life of mitre or unh't such time as {eplacerrient is received, for the payment of which sure well and truly made, we hereby bind ourselves and cur personal representat{yes, successors and assigns. jointly and severally', Firmly by these presents. Wf1bILEAS, the Board has detetmintd., in accordeace with the Act, that the estitnatod costs of rcclamatlon of the Affecttd Lands are those amounts for the stated periods of time as set Porch ltuein. Said amount tray be amended from tithe to time to reflect revised estimates of said casts of reelamadan. WFiBREAS, the Operator and the warrantor. is acoordaace with the Act. hos promised and hereby proatises the Boatel that it will bo responsible far all the esEinnated costs of reclamation with regard to the Affected Lands. WI~ECtEAS, rho Board has dexnmia~«i that This Financial Warranty by the Warrantor equals rho esttzrtaccd costs of recLitaation, as approved by th'e Eoard, with regard to the Affected Lands. NOW, TI•ff.I2EFO1~, the Operator and the Warraatxu' are treld hereby turnly turto the State of Colorado is the amount of those scans for those periods of tithe as see forth herein, until this Financial Warranty is amended or released in accordance with appiicable taw. . The go~~y, Sot gcod ruse shops,''uicrease or decrease the amotmt and duration of this Financial Warrant`. The Operator shall have si~dy (60) day',s altar the date of aodce of any such adjustment to increase the surd` amount, but ao such iuct+ease shag bind the Watracstor unless and until it shalt have consented thereto in writing by the issuanex of an additional Fiaaaeial Warranty or by an endorseraeat to this Fusanciat Warranty. The t and the Warrantor shall ~ warranty. If the Board rectives suclr>r bxn materially iatpaired, is may com whether impairruerrt has occurred. The obligation of the Operator and Wady or has ordered !t forfeited i periods of years may necessarily be re Lands has brtn sazisfnccorily comply of this Financial Wamtaty mart be i ' estimated cost of the tttnaining reel permit, or of the time allowed to com undo this Financial Warranty. No r to execuoc this Financial Wacranry s Ey the Board immediately of arsy event which may impair this Financial 4 or otherwise has reason to believe that this Financial Warranty has s a hearing iu accordaaet with the Act for tits purpose of determiniatg Warrantor shall eontiaue emtil the Hoard bas released this Financial econianee with applicable provisions of the Ad. It is understood that ~od before determinadoa can be made that rcclatttatioa of rho Affbctcd It is also recognized that, as reciamadon is acwmpGshcd, the atnouat iced with the approval of the Board so that it reflects the rhea ctttrettt dioa of the Affected Lands. No revision. ~tensiou. or renewal of rho :e mlamation, shaA diminish the Operator's or Wartanwc's obligation epresentation by the Operator which raay have induced the Warrantor t be any defense to dctnand by the State under this agsremeat. in nay single year during the life ofthe permit, the amount of the Financial Warranty shall not cccced the castof fully reclaiaring atI leads to be affected in said year, plus all loads affecoed is previous Permit years and aert ya fir!]y reciainted. ~lte~clamatian costs shalt be computed with r+cfettnoe to current rectaraadon costs.