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<br /> <br />STATE OF COLORADO' <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources" <br />1313 Sherman St., Room 215 Ali <br />Denver, Colorado 80203 SEP 2 7 1996 <br />Phone: (303) 866-3567 or a <br />FAX: (303) 832-8106 Dm6luty OF <br />MINERALS & GEOLOGY DEPARTMENT OF <br />NATURAL <br />FINANCIAL WARRANTY RESOURCES <br /> <br />CORPORATE SURETY <br />Operator: P.C. Management, L . L : C . <br />Operation: Construction Material Operation <br />Permit No.: M-96-051 Bond No.: 17460 <br />Warrantor: <br />Street: <br />City: <br />State <br />Roy Romer <br />Governor <br />lames S. Lochhead <br />Executive Director <br />Michael B. Long <br />Division Director <br />`` <br />Pioneer General Insurance Company <br />3900 East Mexico Avenue, Suite 330 <br />Denver <br />Colorado Zip Code: <br />Area Code: 303 Telephone: <br />80210 <br />758-8122 <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S. 1973, 34-32-101 et M. (the "Act"), <br />as amended, provides that no permit may be'issued under the Act until the Mined Land Reclamation <br />Board (the "Board") receives a Financial Warranty (or Warranties) as described in the Act. <br />WHEREAS, P.C. Management, L.L.C. <br />(the "Operator"), <br />a Colorado corporation, has applied for a permit to conduct a mining <br />operation known as rr nctrncti on Material Operation (the "Operation"), on certain lands <br />in Rio Blanco County, Colorado. These lands are described in the permit <br />application, as amended and supplemented, and are referred to herein as the "Affected Lands". <br />WHEREAS, in the application for the permit, the Operator has agreed to be bound by all <br />requirements of the Act and all applicable rules and regulations of the Board, as amended from time to <br />time. <br />WHEREAS, in the application for the permit, the Operator has agreed with the Board to provide <br />for reclamation of the Affected Lands that are now, or may become, subject to the permit, as required <br />by law.