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-4. <br />IV. RECITALS <br />17n7'Ci???e`t' 12- Permit Number A - 19 9 -1 b 1 was granted to <br />llfA2T ?. Po P? (o6tingoperator) ("Permittee"),pmma ttowhichPamittee <br />has been conducting a mining operation in the County of clra,la State of Colorado. <br />2. Permittee wishes to assign the permit to Lu ALTeG Z P-ee, T u-- . (new <br />operator), as Successor Operator ("Successor') and Successor wishes to became Successor Permittee under the <br />permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicable State <br />laws and regulations has not been completed and is willing to assume full responsibiilityfor the completion offtPlan. <br />V. AGREEMENTS <br />Permittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective Mfact?. upon the approval by the State ofthe transfer of the Permit from Permitteeto Successor, as Mows: <br />1. Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware of <br />the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclauuation plan, and hereby assumes liability for completing such plan as to all <br />areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the obligations of <br />the Permittee under the Permit which have not heretofore been performed by Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties*, which are to be <br />- <br />substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the release <br />of the latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and beK it is not inviolation <br />of amy of the provisions of the Colorado Mined Land reclamation Art with respect to any other operatkm conducted by <br />it in the State of Colorado. <br /> <br />Permittee and Successor hereby request the State to consent to the assigenient of the Permit, to reoogmze Successor as <br />Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial Warranties in <br />place of the Warranties presently on file with the State.