2008-04-18_REPORT - M1977004 - Laserfiche WebLink

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r t • .;. "fire amount of this Financial Warranty is based upon estimates as to the cost of reclamation, and does not operate to liquidate, limit, enlarge or rescria the Operator`s obligations to complete reclamation and to comply in al! respects with the permit and with applicable laws and rewladons governing rerlatnatiott. even though the actual cost thereof may substantially e,+tcr.~ed the amount of this financial Warranty The Wstrnticar shall not be fiable under thi Finanaal Warranty for sa amount ~ceater than the sum designated herein, unless increased by a later amendment W this Fiaaaaal Warrnnt;~. This Financial Warranty shall be reviewed by the Board from tuna to time, and the Board may require as increase in the ptineipal sum of this Financial Warranty (and a corresponding increase in the surety amount) to cover increases is the estlmated costs of n~latttation, but no such increase shall bind the Warraror untess and unh7 it shal3 have consented thereto in writing by the issuance of an additional Financial Warranty or by an endor~ment w this Financial Warranty. Tbc Warrantor nscrvcs the tight w cancel only by ~ivuig written notice to tlwt cf anniversary date, addressed to both the herein stated. In the event of such cance and effect as respects the zalatnation of al and rintil the Operntar shalt file n substitul obligations which shad have arisen at an; writing by the Hoard. In rho eveat~ of such cancellation, if the F'w,aaciat Warranty avar~abte £or We rcc; shall be fixed by the Board at the amoan may not exceed the sum designatod here notify the Warrantor and the Operator reclamation of the areas so identified. is Financial Warranty, effective only upon as anniversary date, and at, a>aHcd by Certified Marl. at least ninety (9Q) days Prior to such perntor at its address heron stand, and co the Board at the address xion, this Financial Warranty shall nevertheless rernaia in full force reas~disturbcd prior to the effective date of such eancdllation, unless Financial Warranty which: (t) assumes liability for all reclamation True while this Financial Watranry is in force; and (2) is accepted in rancial Warranty is not fully released, fire amotutt of the continuing ration of areas disturbed and unreclaimed at the date of cancellation .determines necessary to comptcta such redamatioa (which amount and the Hoard shall concurrently identify such areas itt writing, and :reof. Tircreatter, the obligation of the Warrantor shall be limited W Tha conside;atioa foe the Warrantor's tendon of this ae~rcement is the promise of the Operator to pay the >premiutns, but faiItrre by the Operator to pay such premituns shall not invalidate or ditninisb the Warrantor's obligation hereoader. t The Board may make demand upon We Warrantor for payment hen:under if the Board detetraittcs that reclamation which ought to have beep performed by the Operator, or iu successors or assigns, remains unperformed, and ifFinaacial Warranty forfeiture procedures rer}nired bylaw have beta initiated. No other coadibieu preudart nod be fulfilled to tiUitle the State to receive the amount so demanded However, fly neon completion of reclamation by the Starr; the amounts ecpanded for reclamation shall be less than the amount received from the Warrantor, the excess shall be promptly reflmded W the Warrantor. . If demand is made upon the Warrant for payment of as amount due tv the Board Itereuader, and if the Warrantor fails to make payment of such amount within ninety (90) days after the date of zeceipt of such demand, or if is should theroaRer be determined, by agreement of the Warrnntor or by final }udgmcnt of court, that ttte amount demanded was properly payable, the Warrantor a~ees to pay to the Board, in addition to the amotttu demanded, interest at the prime rate in affect froth time to time at The United Bank of Iknver for the period commencing at the end of such nmery-day period and ending oa the date of actual pavtnent