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-~- <br />IV. RECITAI.:i <br />1. On J~/~'x ,/ , ~~~ Permit Number ~' l 9~7 - `~`'~ ~ was granted to <br />She c~ort G-oS ne (existing operator) ("Permittee"), puxsuant to which <br />Permittee has been conducting a mining operation in the County of ~~ ,State of Colorado. <br />2. Permittee wishes to assign the permit to -4~r_<~.~ F~ ~p ~5'C' iZ~ LL~(new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successar Fermi ee under the <br />permit. <br />3. Su<cessor understands that the reclamation plan (the "Plan") required by the permit and by applicable <br />State laws and regulations has not been completed and is willing to assume full responsibility for the completion of <br />the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective ikso facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as <br />follows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br />of the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to <br />all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Permittee under the Permit which have not heretofore been performed by Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties`, which are to be <br />substituted far the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of thc; latter Warranties. <br />4. Successar represents to the State that, to the best of its knowledge, information and belief, it is not in <br />violation of a.ny of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />Permittee anc;i Successor hereby request the State to consent to the assignment of the Permit, to recognize Successor <br />as Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial <br />Warranties in place of the Warranties presently on file with the State. <br />