2009-06-08_REVISION - M1983067 (11)

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C -2- NOW, THEREFORE, the Operator hereby promises the Board that it will comply with all applicable requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. FURTHER, the Operator hereby promises the Board that it will comply with all of the terms of the application for a permit, as amended and supplemented, as well as any conditions attached to the permit by the Board. FURTHER, the Operator promises the Board, pursuant to 34-32-112(2)(d) or 34-32.5-112 1 c iv of the Act, that it has the lawful authority to enter upon the Affected Lands to conduct mining operations) including, but not limited to, reclamation. The Operator further recognizes the right of the Rr%o rA +„ to reclaim lands affected by the operation. `v VULUI The description of lands herein is for convenience of reference only, an d no error in such description nor any revision of the permitted mining area, nor the disturbance by the Warrantor of lands outside of the permitted mining area shall alter or diminish the Operator's obligation hereunder, which shall extend to the reclamation of all such lands disturbed. The obligation of the Operator hereunder is such that, if the Operator shall successfully comply with the requirements of the Act, applicable rules and regulations, and the permit, then the Board, upon a finding that the Operator has so complied, shall release this performance warranty, and the Operator fr om its obligation hereunder, to the extent that the Board determines that such compliance has been accomplished. The obligation of the Operator hereunder shall continue until released in whole or in part by the Board in accordance with applicable law. In further satisfaction of the requirements of the Act, the Operator promises to be responsible for the cost of reclamation up to the amount established by the Board and has attached hereto its financial warranty, which may be amended from time to time. The Operator agrees warranties) for the estimated costs of reclamation in good standing tfor he enure life a financial of the permit please note that under the provisions of the Colorado Dried Land Reclamation Act and the Colorado Land Reclamation Act for the Extraction of Construction Materials, any Applicant or Operator that submits proof, acceptable to the Board or Division of Minerals and Geolo County or Municipal government, or is a department or diviionaof tate government, theoAppli ant or Operator -is not required to submit or post any other instrument of financial responsibility but hereby promises to be responsible for the cost of reclamation up to the amount specified by the Board. If the Board determines that the Operator is in default under this performance warranty and has failed to cure such default, although written notice of such default and ample time to cure such default have been given, the Operator's financial warranty shall be subject to forfeiture.