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<br />-4- <br />1V. RECITALS <br />1. On July 2 8 1983 Permit Number M-1983-102 was granted to <br />Thompson Properties (existing operator) (".Permittee"),pursuant to which <br />Permittee has been conducting a mining operation in the County of Grand State of Colorado. <br />2. Permittee wishes to assign the permit to R e c l a m a t i o n R i d g e, L L C (new <br />operator), as Successor Operator ("Successor") and Successor wishes to become Successor Permittee under the <br />permit. <br />3. Successor understands that the reclamation plan (the "Plan") required by the permit and by applicable <br />State laws and regulations has not been completed and is willing to assume full responsibility for the completion of <br />the Plan. <br />V. AGREEMENTS <br />Perrnittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective ipsso_ facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as <br />follows: <br />I . Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br />of the conditions thereof. Successor understands and accepts all of the conditions of the Permit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such plan as to <br />all areas heretofore disturbed, as well as to all areas hereafter disturbed. Successor will perform all of the <br />obligations of the Perm.ittee under the Permit which have not heretofore been perforated by Permittee. <br />3. Successor hereby tenders to the State its attached Performance and Financial Warranties*, which are to be <br />substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of the latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and belief, it is not in <br />violafion of any ofthe provisions of the Colorado Mined Land reclaration Act with respect to any other operation <br />conducted by it in the State of Colorado, <br />Permittee and Successor heretry request the State to ?mn sem to the ;ignment of the P&-mit, to recognize {Successor <br />as Successor Operator € -.der the Permit, and to ax--pt the tendered substitute Performance a-td i~ Lnar.:.cial <br />Warranties in place of the Warranties presently or, file with ffie State.