2009-02-20_REVISION - M2002111 (4)

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-4- This Financial Warranty shall be subject to forfeiture whenever the Board determines that anyone or move oft befollowing exist: 1. A Cease and Desist Order entered pursuant to Section 34-32-124 of the Act has been violated, and the carrective action proposed in such Order has not been completed, although ample tinge to have done so has elapsed; or 2. The Operator is in default under its Performa= Warranty, and such default has not bec. shred, although written notice and ample time to taus such default has been given; or 3. The Operator and/or the Warrantor has failed to mainta its Finimcial Warranty in good standing as required by the Act; or 4. The Warrantorno kxW has the f naacial ability to carry out its obligations in accordance with the Act. The deocription of lands he= is far convemence of referenee only, and no sane in such description, nor anyrevision of the permitted mining area, nor the disturbance by the Operator of lands outside of the permitted mining area shall after or diminish the obligations of the Operator and/or Warrantor heaecmder, which shalt extend to t3rereclanu oo of all sudhlands disturbed. Ifthis Financial Warranty applies to National Forest System lards, and ifthis Financial Waranty is accepted by the United States Forest Service ("U.S.F. S.") as the bond required under 36 C.FR 228.13, then the Operator, havingzequestodthat the Board and the U.S.F.S. accept this single Financial Warranty in lieu of the separate bonds which would otherwise be required by applicable law, hereby agrees that, aw.widistanding any other provisim hereof, or of law, this Financial Warranty shall remain in fall forte and effect until U.S.F. S. has advised the Board by written notice that the Operator's obligations to U.S.F.S., for which" Waaamty is executed, have bees satisfied, and until the financial warranty has been released by the Board If this Financial Warranty applies to lands under the jurisdietian of the State Boudaf Land Ccn mnsmoorrs ("Land Board"), and if this Financial Warranty, in whole or in part, is accepted by the Land Board as the band required under its applicable law and procedures, then the Operator, having requested that the State accept this Financial Waraaty mliau of the separate bonds which would otherwise be required by the Colorado Mined Land Redenia m Board or Division of Mi»aals and Geology and by the Land Board, hereby agrees that, notwithstanding any other prmsion hercot or of law, this Financial Warranty shall remain in fihll fora and effect until the Board a notified in writing by the Laud Board that the Operators obligations to the Lard Board, for which tins Warranty is executed, have been satisfied, and until the finmal warranty has bees released by the Board if all or say part of the Affected Lands = under the jurisdiction of the Bureau of Land Management, United States Department of the Interior (the "BLMIJ and it at the request of the Operator on this Financial Warranty, the BLM has, pursuant to 43 C.F.R. 3809.1-9, accepted, this Finanaal Warranty in lieu of requiring a sepaate reclamation bond payable to the United States, then, notwithstanding any od rr provision of this Financial Wartarty, or of law, the Operator and Warantor hereby agree that this Financial Warranty shall not be pleased uatiil the Board w advised in writing by the BLM that the Opaataf s obligations to the BLM, for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the Board