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<br />MINED LAND RECLAMATION DIVISION <br />Department of Natural Resources <br />STATE OF COLORADO <br />1313 Sherman St., Room 215 <br />Denver, CO 80203 <br />303 866-3567 <br />FAX: 303 832-8106 <br />of co? <br />0 <br />o <br />1976 <br />Roy Romer, <br />Governor <br />PERFORMANCE WARRANTY Fred R. Banta, <br />Division Director <br />Operator: Leadville Mining & Milling Corp, <br />Operation: Hopemore & Leadville <br />Permit No: M-90-057 <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S., 34-32-101 <br />et seq. (the "Act"), as amended, provides that no permit may be issued under <br />TFie--ct until the Mined Land Reclamation Board (the "Board") receives a <br />performance warranty (or warranties) that is a written promise to comply with <br />all applicable requirements of the Act. <br />WHEREAS, Leadville Mining & Milling Corp. (the "Operator"), has <br />applied for a permit to conduct a mining operation known as Hopemore & <br />Leadville (the "Operation") on certain lands in Lake County, Colorado. These <br />lands are described in the permit application, as amended and supplemented, <br />and are referred to herein as the "Affected Lands." <br />WHEREAS, in its application for the permit, the Operator has agreed <br />to be bound by all requirements of the Act and all applicable rules and <br />regulations of the Board, as amended from time to time. <br />WHEREAS, the Board has determined, in accordance with the Act, that <br />the estimated costs of reclamation with regard to those affected lands in Lake <br />County which are now or may become subject to the permit are those amounts for <br />the stated periods of time as set forth in the financial warranty, which may <br />be amended from time to time to reflect revised estimates of said costs of <br />reclamation. <br />WHEREAS, the Operator hereby gives the Board a performance warranty <br />pursuant to Section 34-32-117(2) of the Act, and herein promises the Board <br />that it will comply with all applicable requirements of the Act with regard to <br />those Affected Lands. <br />NOW, THEREFORE, the Operator hereby promises the Board that it will <br />comply with all applicable requirements of the Act and rules and regulations <br />of the Board with respect to the Affected Lands. <br />FURTHER, the Operator hereby promises the Board that it will <br />with all of the terms of the application for a permit, as amended and <br />supplemented, as well as any conditions attached to the permit by the <br />comply <br />Board.