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<br />In any single year during the life of the permit, the amount of the Financial Warranty shall not exceed the estimated cost of
<br />fully reclaiming all lands to be affected in said year, plus all lands affected in previous permit years and not yet fully
<br />reclaimed. Reclamation costs shall be computed with reference to current reclamation costs.
<br />The amount of this Financial Warranty is based upon estimates as to the cost of reclamation, and does not operate to
<br />liquidate, limit, enlarge or restrict the Operator's obligations to complete reclamation and to comply in all respects with the
<br />permit and with applicable laws and regulations governing reclamation, even though the actual costthereof may substantially
<br />exceed the amount of this Financial Warranty.
<br />The N fined Land Reclamation Board or the Office of Mined Land Reclamation may recover the necessary costs, including
<br />artor7ev's lees or fees incurred in foreclosing on or realizing the collateral used in the event this Financial Warranty is forfeited.
<br />'T'ile face amount of this Financial Warranty shall be increased by five hundred dollars ($500.00) to cover these costs.
<br />Tile Warrantor shall not be liable under this Financial Warranty for an amount greater than the sum designated herein, unless
<br />increased by a later amendment to this Financial Warranty. This Financial Warranty shall be reviewed by the Board from
<br />time to time, and the Board may require an increase in the principal sum of this Financial Warranty (and a corresponding
<br />increase in the surety amount) to cover increases in the estimated costs of reclamation, but no such increase shall bind the
<br />Warrantor unless and until it shall have consented thereto in writing by the issuance of an additional Financial Warranty or
<br />by an endorsement to this Financial Warranty.
<br />The Warrantor reserves the right to cancel this Financial Warranty, effective only upon an anniversary date, and only by
<br />giving written notice to that effect, mailed by Certified .Mail, at least ninety (90) days prior to such anniversary date,
<br />addressed to both the Operator at its address herein stated, and to the Board at the address herein stated. In the event of such
<br />cancellation, this Financial Warranty shall nevertheless remain in full force and effect as respects the reclamation of all areas
<br />disturbed prior to the effective date of such cancellation, unless and until the Operator shall file a substitute Financial
<br />Warranty which: (1) assumes liability for all reclamation obligations which shall have arisen at any time while this Financial
<br />Warranty is in force, and (?) is accepted in writing by the Board.
<br />Ill the event of such cancellation, if the Financial Warranty is not fully released, the amount of the continuing Financial
<br />Warranty available for the reclamation of areas disturbed and unreclaimed at the date of cancellation shall be fixed by the
<br />Board at the amount it determines necessary to complete such reclamation (which amount may not exceed the sum
<br />designated herein) and the Board shall concurrently identify such areas in writing, and notify the Warrantor and die Operator
<br />thereof. Thereafter. the obligation of the Warrantor shall be limited to reclamation of the areas so identified.
<br />The consideration for the Warrantor's execution of this agreement is the promise of the Operator to pay the premiums. but
<br />==! re 'r,y tile: Operator to iray such premiums shall not invalidate or diminish the Warr'antor's obligation hercurider,
<br />oc Boa-dl rnav nlal r .i a?d uP on the Warrantor for payment lie- under if the Board determines ti m re.., :::aiiorl u; l"?Earl
<br />)f «l;£ to ha-,-_ ntv n performed bl, t17 Operator, or its successors Or assigns, remains a ipewbrined., and f financial , a:lr%lIT,
<br />r ` ttun,- proc4tdure: require.{l by haw have been initiated. No other condition l:,rece.d.ent raced be fulfilled to entitle tI `?t its
<br />tc? receive: the arncarnt so demanded. 1-low-ever, if, upon completion of reclamation by the State. the amounts expended for
<br />reclamation shall. be less than the amount received from the Warrantor, the excess shall be promptly refunded to the
<br />Warrantor.
<br />If demand is made upon the Warrantor tier payment of an amount due to the. Board hereunder, and if the Warrantor fails to
<br />make payment of such amcittnt within ninety (90) days after the date of receipt of such demand, or if it should thereafter be
<br />rt"or !5. ai: z {i r s ac rat
<br />3, t ,c rfa t a inen: of ;;ou;, tha{ the aniohilr t dcnlandc _. h!
<br />itlc Vk arrant oi agr,? ti 'r I3a\ to t h(, Rof-t'd, In addition io the amount: ;lE;;rnanded, imerest a, the prime iate iii f ffie t fiom ?in'sr
<br />_ t-,°
<br />i :t.ir_" 11 9i.,. Vi t%'i:= ertcl3 t:6?m13.P1} ;rt r at TIFF", t.I;d (3I St?i„h :;iii:;t i,c Fr;'d and t:- :;in,- Sri t „
<br />_ '7 : , date of actual payment.
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