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4. <br />IV. RECITALS <br />I . On ___ M a 91 <br />V'_C? 7 Permit Number _A1 0772 was granted to <br />Qh-BK-t?l? --- (existing operator) ("Pemrittee")> pursuant to which <br />Permittee has been conducting a mining/operation in the County of ?'??-rer5ovx State of Colorado. <br />2. Permittee wishes to assign the permit to Ge gra..)_.SWe. _8n:ck vtG • _ (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under the <br />Iu rmil. <br />Successor 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 fill] responsibility for the completion of <br />the Plan. <br />V. ACREENIFNI•S <br />Permmittee and Successor hereby agree, I'or their own benefit and for the benefit of the State, such agreements to be <br />el'l'ecti\ e y?sq facto upon the approval by the State of the transfer of the Permit fi-om Permittee to Successor, as <br />l6llows: <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 Perfomrance and Financial Wan anties*, which are to be <br />substituted for the Performance and Financial Warranties heretofore tiled by the Permittee, effective upon the <br />release of the latter Warranties. <br />4. SLICCCssor represents to the State that, to the best of its knowledge, information and belief, it is not in <br />violation of anyof the provisions ofthe Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />I'rrnrittre and Successor' hereby request (lie State to consent to the assignment of the Permit. to recognize Successor <br />,rs Successor Operator under the Permit, and to accept the tendered suhstitutc Performance and Financial <br />Warranties in place of the WV Il rantics prescntly° on tile with the State:.