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9 <br />F <br />-4- <br />This Financial Warranty shall be subject to forfeiture whenever the Board <br />determines that any one or more of the following circumstances exist: <br />1. A Cease and Desist Order entered pursuant to Section 34-32-124 <br />of the Act has been violated, and the corrective action proposed in such Order <br />has not been `&mpleted, although ample time to have done so has elapsed; or <br />2. The Operator is in default under its Performance Warranty, and <br />such default has not been cured, although written notice and ample time to <br />cure such default has been given; or <br />3. The Operator has failed to maintain its Financial Warranty in <br />good standing as required by the Act; or <br />4. The Financial. Warrantor no longer has the financial ability to <br />carry out its obligations in accordance with the?Act. <br />The description of lands herein is for convenience of reference only, and <br />no error in such description, nor any revision of the permitted mining area, <br />nor the disturbance by the Operator of lands outside of the permitted mining <br />area shall alter or diminish the obligations of the Warrantor and/or the <br />Operator hereunder, which shall extend to the reclamation of all such lands <br />disturbed. <br />If this Financial Warranty applies to National Forest System lands, and <br />if-this Financial Warranty is accepted by the United States Forest Service <br />("U.S.F.S:") as the bond required under 36 C.F.R. 252.13, then the Operator, <br />having requested that the Board and the U.S.F.S. accept this single Financial <br />Warranty in lieu of the separate bonds which would otherwise be required by <br />applicable law, hereby agrees that, notwithstanding any other provision <br />hereof, or of law, this Financial Warranty shall remain in full force and <br />effect until U.S.F.S. has advised the Board by written notice that the <br />Operator's.obligations'to U.S.F.S., for which this Warranty is executed, have <br />been satisfied, and until the financial warranty has been released by thE' <br />Board. <br />If this Financial Warranty applies to lands under the jurisdiction of the <br />State Board.of Land Commissioners ("Land Board"), and if this Financial <br />Warranty, in whole or in part, is accepted by the Land Board as the bond <br />required under its applicable law and procedures, then the Operator, having <br />requested that the Board accept this Financial Warranty in lieu of the <br />separate•bonds which would otherwise be required by the Colorado Mined Land <br />Reclamation Board or Division.of Minerals and Geology and by the Land Board, <br />hereby agrees that, notwithstanding any other provision hereof, or of law, <br />this Financial Warranty shall remain in full force and effect until the Board <br />is notified in writing by the Land Board that the Operator's obligations to <br />the Land Board, for which this Warranty is executed, have been satisfied, and <br />until the financial warranty has been released. by the Board.