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_4. <br />1~'. RECITAI:S <br />1. On ,1 ~..ne ~ ~ ~ y ~ _ Permit Number ,M' 1 qya ' OS 7 was granted to <br />t_ ~2Aav, 1 fie. M ~ n t n~_/h ,11 ~ n~ {existing operator} ("Permittee"}, pursuant to which <br />Permittee has been conducting a mining operation in the County of L(t1S~ ,State of Colorado. <br />2. Pemuttee wishes to assign the permit to ~=~*~`~~ i~o 10ti. C.mc~(~o «~~0~ (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under the <br />permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the pernut 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 i so 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 />alt areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Pertnittee 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 for the Perfomrance and Financial Warranties heretofore filed by the Permittee, et3'ective upon the <br />release ofthe latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and belief it is not in <br />violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State ofColorado. <br />Permittee and 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 />