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2- <br />WHEREAS, ~ B~ has ~ m ~ witfi the Act that the costs of <br />Affected Lands are those amounts for the stated periods of tune as set forth. herein. Said amount ma be amendOO of the <br />time to reflect revised estimates of said costs of reclamation. Y fi'om ~~ tiD <br />WHEREAS, the Board has determined that the financial warranty by the <br />reclamation, as approved by the Board, with regard to the Affected Lands. r equals the estimated costs of <br />WHEREAS, the Operator, in a~ with the Act has promised oral her~eb. <br />responsible for all of the estimated tests of reclamation with regard to the Affected ~ prnnrrses the Board that it will be <br />WHEREAS, as proof of its financial raponsibility the Opp has <br />the Act and has executed a personal c d ~ tO ~~ 34-32-117{3xa) of <br />payable to the Mined Land Reclamation Btmrd in the amount~of F u rat h o u s es nd t wee n t yo' 1~ A 4 9 <br />dollars ($~ 4_ n 2 n n n ). <br />The Board has deposited the executed personal or business check, cashier's check or certified funds in the State of <br />Colorado Treasury ("sate treasury"). The abQVe-meQti~ sum is to be held as proof of tl~ Opeaator's financial responsibility <br />under this fnnaaciai warranty. <br />The Operator has provided to the Board as proof of its authority to execute the above-mentioned personal or business <br />check, by one of the following methods, as it applies to the Operator; <br />1. If the operator is a corporation, a ctrpyof the corporate resolution, specifying the individuals that have <br />authority to execute checks on behalf of the corporation, <br />2. If the Operator is a partnership, a copy of the patbnershi resolution <br />have authority to execute checks on behalf of the p , ~g the individuals that <br />partnership. <br />that have authority to execute thee oboe mentionedka ~~ ~, c~nfinnation firm the bank stating the individuals <br />If the Operator has elected to proceed with a personal or business check, this financial warrant}, is not effective until <br />the personal or business check has cleanod the bank upon which it was drawn. <br />NOW THEREFORE, the operator is held hereby firmly unto the State of Colorado in fire amount of those sums for <br />those periods of time as set forth. herein, until this financial wananty is amended or released in accordance with applicable law. <br />The Board rrray, for good cause shown, increase or decrease the anwunt and duration of this Financial Warranty. The <br />Operator shall have sixty (tit)) days after the date of mice of any such adjustment to fulfill atl new requirements. <br />The Operator shall notify the Board immediately of any event which may impair this Financial Warranty. Tf the Board <br />receives such notice or otherwise has reason to believe that this Financial Warranty has been rrlatexially im~ir~ed, it may <br />convene a hearing in accordance with the Act for the purpose of determining whether impairment has occurred. <br />The Board may withdraw the funds deposited in the state treasury held hereunder, if the Board determines that <br />r+eclarr>ation which ought to have been performed by the Operator, or its scars or assi <br />condition precedent need be fulfilled to entitle the Board to receive the funds dep~ited~the stare tr .. 1`io other <br />