2008-03-05_REVISION - M1985023 (7)

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_ STATE OF COLORADO DIVISICaN OF MINERALS AND GEOLOGY Department of Natural Resources 1313 Sherman 5t., Room 215 Denver, Colorado 80203 Phone: (303) 866-3567 f~X: t303) 832-8106 DECEIVED PERFORMANCE WARRANTY Nov ~ z 1998 ..:t 1,,linetats ~ Geology Operator: Hollenbeck Inc. Operation: Hollenbeck Pit ~~ECEIVE~ OCT 19 1999 ~.lr~s+on of Minerals ~ Geology DEPARTMENT' C NATURA RESOURCE Roy Romer Covemor James S. tochhead Executive Director Michael B. long Division Director Permit No: M-85-t)23 KNOW ALL MEN BY THESE PRESENTS, THAT: WHEREAS, -the Colorado Mined Land Reclamation Act, C.R.S. 34-32-101 et seg. (the "Act"), as amerided, and the Colorado Land Reclamation Act for the Extraction of Construction Materials, C.R.S. 34-32.5-101 et s_eg. (the "Act"), as amended, provides that no permit may be issued under the Act until the Mined Land Reclamation Board (the "Board") receives a performance warranty (or warranties) that is a written promise to comply with all applicable requirements of the Act. WHEREAS, Hollenbeck Inc. (the "Operator"), has applied for a permit to conduct a mining operation known as Hollenbeck Pit (the "Operation") on certain lands in _ Gunnison County, Colorado. These lands are described in the permit application, as amended and supplemented, and are referred to herein as the "Affected Lands". WHEREAS, in its application for the permit, the Operator has agreed to be bound by all requirements of the Act and all applicable rules and regulations of the Board, as amended from time to time. WHEREAS, the Board has determined, in accordance with the Act, that the estimated costs of reclamation with regard to those affected lands in Gunnison County which are now or may become subject to the permit are those amounts for the stated periods of time as set forth in the financial warranty, which may be amended from time to time to reflect revised estimates of said costs of reclamation. WHEREAS, the Operator hereby gives the Board a performance warranty pursuant to Section 34-32-117(2) or Section 34-32.5-117(2) of the Act, and herein promises the Board that it will comply with all applicable requirements of the Act with regard to those Affected Lands.