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-1) - <br />WHEREAS, as proof of its financial responsibility the Operator has proceeded pursuant to <br />Section 34-32-117(3)(a) of the Act and has executed a personal check, business check, cashier's check, or <br />certified check No. cc, , payable to the Mined Land Reclamation Board in the amount <br />of - dollars ($ . rA_:-,> ) <br />The Board has deposited the executed personal or business check, cashier's check or certified funds in <br />the State of Colorado'Treasury ("state treasury"). The above-mentioned sum is to be held as proof of the <br />Operator's financial responsibility under this financial warranty. <br />The Operator has provided to the Board as proof of its authority to execute the above-mentioned <br />personal or business check, by one of the following methods, as it applies to the Operator: <br />I . If the operator is a corporation, a copy of the corporate resolution, specifying the <br />individuals that have authority to execute checks on behalf of the corporation. <br />2. If the Operator is a partnership, a copy of the partnership resolution, specifying the <br />individuals that have authority to execute checks on behalf of the partnership. <br />3. If the Operator is an individual or a sole proprietor, confirmation from the bank stating <br />the individuals that have authority to execute the above-mentioned check. <br />If the Operator has elected to proceed with a personal or business check, this financial warranty is not <br />effective until the personal or business check has cleared the bank upon which it was drawn. <br />NOW THEREFORE, the operator is held hereby firmly unto the State of Colorado in the amount of <br />those sums for those periods of time as set forth herein, until this financial warranty is amended or released in <br />accordance with applicable law. <br />. The Board may, for good cause shown, increase or decrease the amount and duration of this Financial <br />Warranty. The Operator shall have sixty (60) days after the date of notice of any such adjustment to fulfill all <br />new requirements. <br />The Operator shall notify the Board immediately of any event which may impair this Financial <br />Warranty. If the Board receives such notice or otherwise has reason to believe that this Financial Warranty has <br />.been materially impaired, it may convene a hearing in accordance with the Act for the purpose of determining <br />whether impairment has occurred. <br />The Board may withdraw the funds deposited in the state treasury held hereunder, if the Board <br />determines that reclamation which ought to have been performed by the Operator, or its successors or assigns, <br />remains unperformed. No other condition precedent need be fulfilled to entitle the Board to receive the funds <br />deposited in the state treasury. <br />In the event of forfeiture of this financial warranty by the Board, if upon completion of reclamation by <br />Ci;e Boars .: e cis: r? iamatics; shali he less than tine amount received from the state treasury, the excess shall <br />be prornrt'y to the n-e-:e-.