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-4- <br />This Financial Warranty shall be subject to forfeiture whenever the Board determines that any one or more of the following <br />circumstances exist: <br />1. A Cease and Desist Order entered pursuant to Section 34-32-124 ofthe Act has been violated, and the <br />corrective action proposed in such Order has not been completed, although ample time to have done so has elapsed; or <br />2. The Operator is in default under its Performance Warranty, and such default has not been cured, <br />although written notice and ample time to cure such default has been given; or <br />3. The Operator and/or the Warrantor has failed to maintain its Financial Warranty in good standing as <br />required by the Act; or <br />4. The Warrantor no longer has the financial ability to carry out its obligations in accordanoe with the Act. <br />The description of lands herein is for convenience of reference only, and no error in such description, nor any revision of the <br />permitted mining area, nor the disturbance by the Operator of lands outside of the permitted mining area shall after or diminish <br />the obligations of the Operator and/or Warrantor hereunder, which shall extend to the reclamation of all such lands disturbed. <br />If this Financial Warranty applies to National Forest System lands, and if this Financial Warranty is accepted by the United <br />States Forest Service ("U.S.F. S.") as the bond required under 36 C.F.R 228.13, then the Operator, having requested that the <br />Board and the U.S.F. S. accept this single Financial Warranty in lieu of the separate bonds which would otherwise be required <br />1r' applicable law, hereby agrees that, notwithstanding any other provision hereot or of law, this Financial Warranty shall <br />ain in full force and effect until U. S.F.S. has advised the Board by written notice that the Operator's obligations to U.S.F.S., <br />for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the Board. <br />If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land Commissioners ("Land Board"), <br />and if this Financial Warranty, in whole or in part, is accepted by the Land Board as the bond required under its applicable law <br />and procedures, then the Operator, having requested that the State accept this Financial Warranty in lieu of the separate bonds <br />which would otherwise be required by the Colorado Mined Land Reclamation Board or Division of Minerals and Geology and <br />by the Land Board, hereby agrees that, notwithstanding any other provision hereof, or of law, this Financial Warranty shall <br />remain in full force and effect until the Board is notified in writing by the Land Board that the Operator's obligations to the <br />Land Board, for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the <br />Board. <br />If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management, United States Department <br />of the Interior (the "BLM"), and if, at the request of the Operator on this Financial Warranty, the BLM has, pursuant to 43 <br />C.F.K 3809.1-9, accepted this Financial Warranty in lieu of requiring a separate reclamation bond payable to the United States, <br />then, notwithstanding any other provision of this Financial Warranty, or of law, the Operator and Warrantor hereby agree that <br />this Financial Warranty shall not be released until the Board is advised in writing by the BLM that the Operator's obligations to <br />the BLM, for which this Warranty is executed, have been satisfied, and until the financial warranty has been released by the <br />Board.