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-2- <br />WHEREAS, the Board has determined in accordance with the Act that the estimated costs of reclamation of the <br />Affected Lands are those amounts for the stated periods of time as set forth herein. Said amount may be amended from time to <br />time to reflect revised estimates of said costs of reclamation. <br />W TEREAS, the Board has determined that the financial warranty by the Operator equals the estimated costs of <br />reclamation, as approved by the Board, with regard to the Affected Lands, <br />WHEREAS, the Operator, in accordance with the Act has promised and hereby promises the Board that it will be <br />responsible for all of the estimated costs of reclamation with regard to the Affected Lands. <br />WHEREAS, as proof of its financial responsibility the Operator has proceeded pursuant to Section 34-32-117(3xa) of <br />the Act and has executed a personal check, business check, cashier's check, or certified check No. <br />payable to the Mined Land Reclamation Board in the amount of <br />dollars ($__,S-00,. 06 1 <br />The Board has deposited the executed personal or business check, cashier's check or certified funds in the State of <br />Colorado Treasury ("state treasury"). Ile above-mentioned sum is to be held as proofofthe Operator's financial responsibility <br />under this financial warranty. <br />The Operator has provided to the Board as proof of its authority to execute the above-mentioned personal or business <br />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 individuals that have <br />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 individuals that <br />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 the individuals <br />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 effective until <br />the personal or business check has cleared the bank upon which it was drawn. <br />NOW THERE, FORE, the operator is held hereby firmly unto the State of Colorado in the amount of those sums for <br />those periods of time as set forth herein, until this financial warranty is amended or released in accordance with applicable law. <br />TkY Board may, Frur g* <,"A imt ae &?s!w, x g sf t 7x an `' `' ' s T ? <br />?,w-.P ire i? I-n <br />uiP xcdv ± 1 <br />`- .i.., d£'.+.Br '''atc slit. C{ 3` • e o"' '..4 y'., a..ei c`? f. d`ra c of any slkch .t fad ii ?_ ae x <br />? > .. <br />kin. receives BL--h notice or O 'nel'[7"ise has at 8?rw z to be ie-VVc that thd& 31a 1c".al arrE sty 111S been ryuaer.411y impaired, k ma r <br />convene a hearing in accordance with the Act for the purpose of determining whether impairment has occurred. <br />The Board may withdraw the funds deposited in the state treasury held hereunder, if the Board determines that <br />reclamation which ought to have been performed by the Operator, or its successors or assigns, remains unperformed. No other <br />condition precedent nerd be f'ulMled to entitle the Board to reeeiva the finds deposited i ? zee swe rreas;?r;Y. .