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NOW. THEREFORE, the Operator hereby promises the Board that it will comply with <br />all applicable requirements of the Act and rules and revelations of the Board with respect to the <br />Affected Lands. <br />FURTHER, the Operator hereby promises the Board that it will comply with all of Lhe <br />terms of the application for a permit, as amended and supplemented, as well as any conditions <br />attached to the permit by the Board. <br />Further, the Operator promises the Board, pursuant to 34-32-112(1)(d) of the Act, that <br />it has the la%.ful authority to enter upon the Affected Lands to conduct mining operations, <br />including, but not limited to, reclamation. The Operator further recognizes the right of the <br />Board to enter to reclaim lands affected by the operation. <br />The description of lands herein is for convenience of reference only, and nd error in such <br />description, nor any revision of the permitted mining area, nor the disrurbance by the Warrantor <br />of lands outside of the permitted mining area shall alter or diminish the Operator's obligation <br />hereunder, which shall extend to the reclamation of all such lands disturbed. <br />The obligation of the Operator hereunder is such that, if the Operator shall successfully <br />comply with the requirements of the Act, applicable rules and regulations, and the permit, then <br />the Board, upon a finding that the Operator has so complied, shall release this performance <br />warranty, and the Operator from its obligation hereunder, to the extent that the Board determines <br />that such compliance has been accomplished. The obligation of the Operator hereunder shall <br />continue until released in whole or in pan by the Board in accordance with applicable law. <br />In further satisfaction of the requirements of the Act, the Operator has attached hereto <br />its financial warranty, which may be amended from time to time. The Operator agrees that it <br />will maintain a financial warranty (or warranties) for the estimated costs of reclamation in good <br />standing for the entire life of the permit. <br />If the Board determines that the Operator is in default under this performance warranty <br />and has failed to cure such default, although written notice of such default and ample time to <br />cure such default have been given, the Operator's financial warranty shall be subject to <br />forfeiture. <br />This performance warranty may be executed in multiple copies, each of which shall be <br />treated as an original, but together they constitute only one agreement, the validity and <br />interpretation of which shall be governed by the laws of the State of Colorado.