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RULE 2 PERMITS <br />-2- <br />BOND NO. 11127471685 <br />The phrase "Board or Division" in this bond means the organ of State government which has <br />the authority to act in the circumstance referred to, and recognizes that the Mined Land Reclamation <br />Act (34-32-101 et se q.) and the Colorado Surface Coal Mining Reclamation Act (34-33-101 et eq.) <br />confer distinctive and sometimes different responsibilities upon the Board and the Division. <br />NOW THEREFORE, the conditions of this obligation are such that, if the above-bonded <br />Principal shall, in conducting such mining and reclamation operations, faithfully perform the <br />requirements of the Plan, as amended from time to time, and comply with the conditions of the Permit <br />and with all applicable laws and regulations of the State, and if the Board or the Division shall make a <br />finding that the lands upon which such operations have been conducted have been satisfactorily <br />reclaimed, and if the OSMRE shall concur with this finding, then the Board or the Division shall, <br />upon receipt of a request for bond release on such lands or a request for partial release as to any <br />portion thereof, and upon the completion of applicable procedures of law and regulation governing <br />release of bond, release the Principal and the surety of the extent that it determines such reclamation to <br />have been accomplished. <br />ADDITIONAL PROVISIONS <br />(1) The amount of this bond is based upon estimates as to the cost of reclamation, and does <br />not operate to liquidate, limit, enlarge, or restrict the Principal's obligations to complete the <br />reclamation plan and to comply in all respects with the Permit and with applicable laws and <br />regulations governing reclamation, even though the actual cost thereof may substantially exceed the <br />amount of this bond. <br />(2) The surety shall not be liable under this bond for an amount greater than the sum <br />designated in the first paragraph hereof, unless increased by a later amendment to the bond. This bond <br />shall be reviewed by the Board of the Division from.time to time, and with the knowledge of the <br />OSMRE, the Board or the Division may require an increase in the principal sum of this bond (and a <br />corresponding increase in the surety amount) to cover increases in the estimated costs of reclamation, <br />but no such increase shall bind the surety unless and until it shall have consented thereto in writing by <br />the issuance of an additional surety bond or by an endorsement to this bond. <br />(3) Surety reserves the right to cancel this bond, effective only upon an anniversary date, <br />and only by giving written notice to that effect, mailed by certified mail, at least ninety (90) days prior <br />to such anniversary date, addressed to both the Principal, at its address herein stated, and to the <br />Division at 1313 Sherman Street, Room 215, Denver, Colorado 80203. In the event of such <br />cancellation, this bond shall nevertheless remain in full force and effect as respects the reclamation of <br />all areas disturbed prior to the effective date of such cancellation, unless and until the Principal shall <br />file a substitute bond which: (1) assumes liability for all reclamation obligations which shall have <br />arisen at any time while this bond is in force, and (2) is accepted in writing by the Board or Division. <br />(4) In the event of such cancellation, if the bond is not fully released, the amount of the <br />continuing bond available for the reclamation of areas disturbed and unreclaimed at the date of <br />cancellation, shall be fixed by the Board or the Division at the amount it determines necessary to <br />complete such reclamation (which amount may not exceed the sum designated in the first paragraph <br />Rule 2 Permits 2-14 Revision Date: 6/23/08 <br />Revision No.: MR-91