2008-04-04_REVISION - M1986033 (3)

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,. -3 in fire eveat of forfeiture. of this financial by die Board, if ' cost of reclamation shall be less than the amount received from the state treasury, th~ case sha]~I ~~ ~ ~ ~ ~ Operator. P1Y refunded to the The obligation of the Operator shall continue until the Board has released this financial forfeited race with epplicabk provisions of the Act_ It is periods of~ty or ~ ordered it determination can be made that reclamation of the u'~~'tO°d that Yew may necessarily be recognized drat, as reclamation is Affixted I~ ~ beers warily o~rtpleted. It is also accomplished, the amount of this financial warranty racy be with the approval of the board so that it reflects the then current estimated cost of the t+erttainin tee extension, or r+enewel of the permit or of the flora allowed m complete reel lion shall d mmith~e ~c~. No revisi<m, under this Financial Warranty. Operator's obligation Upon completion of reclamation by the Operator, and ifthe Board fords the reclamation sari release the Financial Warranty and cause the state treasury to issue a check ~~Ory' the Ord shall original Financial Warranty and to include ail accrued interest payable to the Operator in the amount of the cost of full ~rec ~e Yew' during the life of the Permit, the amount of the Financial Warranty shall not exceed the estimated y laiming all lands _to .be affected in said year, plus atl .lands a,H',~d in .reclaimed. Reclamation costs shall be computed with reference to current reclamation costsus Pest Yeazs and not yet fully The amount of this Financial Warranty is based upon estimates as to the cost ofreclamati liquidate, limit, enlarge, or restrict the Operator's obli on, and does not operate to ~Y substatttially exceed the amount of this Financial Wamartty Clete the reclart~ation, even though the acwai coy~ts thereof This Financial Warranty shall be subject to forfeiture whenever the Hoard determines that any ane or more of the following circumstances exist: t • A Cease and Desist Order entered pursuant to Section 3432-124 ofthe Acthas been vio! corrective action proposed in such or~r has not been eompkted ahhou ated, and the gh ample time to have done so has elapsed; or 2. The Operator is in defauh under its Performance Warranty, and such default has not been cut+ed .although written notice and ample time to cure such default has been given; or 3. The Operator has failed to rr>aintain its Financial Warranty in good standing as ~uued by the Act; or Act. 4. The Operator no longer has the financial ability to carry Out its obligations In accordance with the The description of lands herein is for convenience of reference only, and no error in such description, nor any of the permitted mining area, nor the disturbance by the Operator of lands outside of the diminish the obligations of the Operator hereunder., which shall extend to the reclamation o all~su lands disturbed. or If this Financial Wair~ity applies to National Forest System lands, and if this Financial Warran is United States Forest Service ("U.S.F.S."j as die bond required under 36 C.F.R. 228.13, then, the ty ~ ~ that the Board and the U.S.F.S. accept this single Financial Warran m lieu of the having requested required by applicable law, hereb ty 3e~arate bonds which would otherwise be Y that, notwithstandingany other 1>ravision hereof; or of law, this Firutncial Warranty steal! remain in full force and effect until U.S.F.S. has advised the Hoard by written notice that the Operator's obligations to U.S.F.S. far which this warranty is executed have been satisfied and until its release has been approved by the Board.