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.4- <br />IV. RECITALS <br />1. On June 17, 1977 <br />Permit Number M-19 76 - 02 7 was granted to <br />Ni e 1 S ons Inc. (existing operator) ("Permittee"), pursuant to which <br />Permittee has been conducting a mining operation in the County of La Plata State of Colorado. <br />Skanska USA Civil West <br />? Permittee wishes to assign the permit to Rocky Mountain District Inc <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee undernthe I <br />permit. <br />I <br />3. 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 full responsibility for the completion of j <br />the Plan. <br />V. AGREEMENTS <br />Permittee and Successor hereby <br />effective ipso facto upon the approval by the State of benefit and for the the transfer of the benefit <br />from Permttt a to Successor, as <br />follows: <br />i . 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 <br />-plan, and hereby assumes liability for completing such plan as to j <br />all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Petmittee 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 Performance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of the 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 of Colorado. <br />Pernrittee and Successor hereby request the State to cotrsent 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.