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<br />u <br /> <br /> <br /> <br /> <br /> <br />t <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />q.. <br />Ifthe Board shalt notify the WatTatttoc that lire Operator is in default, and if the Board shall initiate any Financial <br />Warranty Forfeiture ptacdtues required by taw er regulation, the Warrantor may, in lieu of making pavmeac to <br />the Board of the amount due hereunder; cause the reclamation to be timely performed is accordance with ail <br />requut:mrnts of the Act arrd all applicable Hiles and regulations. in such event, when and if the reclamation has <br />beta timely performed to the satisfacnon of the Beard of Division, this Financial Warranty shall be released. <br />lithe reciaaiation shall not be so performed to the satisfaction of the Board or Division, this Financial Warrant' <br />shalt remain is full force and et~et. <br />71us Financial Warranty shall be subject to forfeituro,whenaver die Board deterrnlnes that any one or more of <br />the fallowing circtunstancce exist; <br />1. A Cease and Desist Order entered pursuant to Socdon 34-32-I24 of the Act h~ been <br />violated, and the corrective action ptnposed in such Order has not been completed. although ample lima to have <br />dace so has elapsed; or <br />2. 'The Opecntor is in defank underits Performarree Warranty, and such default has not been <br />cured, althoush written notice and ample tune to cure such dethult has Gem jvea; or <br />3. The Operator and/or the Warrantarhas farted to maiatann its Financial Warrmory in good <br />standing as required by the Act; or <br />d, The Watrantorl'~ao longer has the financial ability to carry out its obligations in <br />accatdaace with the Act. <br />The description of lands herein is for convenience of n:fermce only, 2nd ao error in stteh description, nor any <br />tevision of the pcraiitted mining area, nor the disturbance by the Operator of leads outside of the peiatitted <br />niiniag area shall alter or diminish the obligations of the Operator and/or Warrantor hereunder, which shall <br />attend m the reclamation of ail such laa'ds disturbed. <br />If tills Financial Watraaty applies to N ~'oaal Foit;st System lands, and if this Fusnaoiai Watrmtry is accepted <br />by the Unttt:d States Forest Service ("U.S.F.S: 7 as the bond required under 36 C.F,R 252.23, then the Opcratar, <br />having requested that the Board and the LJ.S.1.5. accept this sbttgie Financial Warranty is lieu of the separate <br />bonds which would otherwise be regn'itcd by applicable law, hereby agrees that, notwithstanding any other <br />provisioa'hereofy ar of law, this Financial Warranty shall remain in full force and t:l~'at until U.SF.S. has <br />advised the Board by written notice tfi~at the Operator's obligations to U SF.S., for which this Warranty is <br />ertetxued. hove been satisfied, and until ~,ihe finanr3al warranty has beta released by the Board. <br />If this Financial Warranty applies to 1 ';ands uadar the jurisdiction of the State Board of Land Cotntnissioiters <br />("[.utd Board'7, and if this Fvsaacirrl W iarranry, is whole or lit part, is acceptal by the Lead Hoard as the bond <br />required uadtr its applicable law and procedures, then the Operator, having requested that the State accept this <br />Faeancal Waeanry in lien of the sepatate~~bonds which woald otherwise be required by the Colorado Mined Lmrd <br />Reciaaiation Boazd or Division of Minerals and Geo[og)+ and by the Land Board. hereby agrees that <br />notwithstanding any other provision hereo>y or of law. this Faianciat Watrarsty shrill remain in full force and <br />ctfeu until the Board is aatified in writing by the Land Board that the Operator's obligations to the Land Board, <br />far which this Wairauty is e:tecuted, ha'i a been satisfied, and until the financial warranty has bees released by <br />the Board. <br />II <br /> <br /> <br />