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4 <br />IV. RECITALS <br />I. Oil .-_ Permit Number _L7772S2- was granted to <br />G,il/150_kv?-? ?e2?a?p (existing; operator) Permittee' ), pursuant to which <br />State of Colorado. <br />Permittee has been conducting a minim operation in the County 4,u a <br />2. Permittee wishes to assign the permit to LemL¢ra [..Shalt <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under the <br />pCrnlit, <br />?. Sucecssor undcrstands that the reclamation plan (the "Plan") required by the permit and by applicable <br />Static taws and reeulations has not been completed and is willing to assume fill] responsibility for the completion of <br />the Plan. <br />V. ACREENIENTS <br />I'crrnittce and Successor hereby agree, for their own bcuetit and for the benefit ofthe State, such agreements to be <br />effective ypsq f:jp upon the approval by the State of the transfer of the Permit fi-om Permittee to Successor, as <br />hollows: <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 />?. 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 pcrforrtted by Permittee. <br />Successor hereby tenders to the State its attached Perfor -lance and Financial Warranties*, which are to be <br />substituted for the I'erforntance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of t}tc latter Warranties. <br />4. Successor represents to the. State that, to the best of its knowledge, information and belief'. it is not in <br />iolation ol'ttny of the provisions ofthe Colorado 'Mined Land reclamation Act with respect to ally other operation <br />conducted by it in the State ot'Colorado. <br />Permiltce and SItCCCSSOI- hereby request the State to consent to the assignment of the Permit, to rcco`nim- Successor <br />.ti Successor Operator Under the Permil, and to accept the tendered substitute Pci-formance and Financial <br />Warranties in place ofthc \Varrantics presently. on file with the State.