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-4- <br />IV. RECITALS. <br />1. On AZ y . -242:22 Permit Number tt--63-0/9 was granted to ' <br />r.t t?? fu t3`u2?i C C?Cr (existing operator) ("P:ermittee"), pursuant to which <br />Permittee has been conducting a mining operation in the County of . State 'of Colorado. <br />2. Permiuee wishes to assign the permit to ?jprl .SA?t/?7 CD.Y®fj.+??? x (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 bden completed and is willing to assume full respabsibilityfortbe completioa of <br />. <br />the Plan. <br />V. AGREEMENTS <br />Termittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be. <br />effective nso, facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as <br />follows. <br />1. Successorbas inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br />of the conditions thereof Successor uriderstands and accepts all of the conditions ofthe Permit <br />2.. Successor will complete the reclarantionplan, and hereby assumculiability farcompletingsuch 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 Permittec under the Permit which have notl=etofore been performed by Permittee. <br />3. Successorherebytend= totheStateits'attachedPerfarmaoeeandFinanciaNVarranties•,whicharctobd <br />substituted fix the Performance and Foancial_Warranties heretofore filed by the Permittee, effective upon the <br />release ofthe latter Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and helie£ it is not in <br />violation of any of the provlsion? ofthe Colorado Mitied Land reclamation Act withrespect to any other operation <br />conducted by it in the State of Coloradm <br />Permitter and Siccessor hereby request the State to consent to' the assignment of the Perrni, to recognize <br />Successor as Successor Operutorunder thePermit, and to accept the tendered substitute Performance and Financial <br />Warranties in place of the Warranties presently on file with the State.