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06/2812007 15:27 9702475104 DMG DURANGO OFFICE PAGE 05108
<br />JUN 2 8 2007
<br />Division of Reclamation,
<br />4 _ Mining and SafetY
<br />2. The Operator is in default under its Performance Warranty, and such default has not been
<br />cured, although written notice and, ample time to cure such dcfault has been given; or
<br />the Act; or
<br />3. . he operator has failed to maintain its Financi al Warr. arty in. good standing as required by
<br />4. The Financial Warrantor no longer has the financial ability to carry out its obligations iri
<br />accordance with the Act..
<br />The description of lands herein is for convenience of reference only, and no error in such description, nor any
<br />revision of the permitted mining area, nor the distaarbance by the Operator of lands outside of the permitted
<br />miming area shall alter or diminish the obligations of the Warrantor and/or the, operator hereunder, which shall
<br />extend to the reclamation of, all such lands disturbed.
<br />Ifthis Financial Warranty applies to National Forest Syst m lends, and if this Financial. Warranty is accepted
<br />by the United. States Porest Service ("U.S.F.S.") as the bond required under 36 C.F.R. 228.13, then the Operator,
<br />having requested that the Board and the U.S, .S. accept this sin.gl.e Financial Warranty in lieu of the separate
<br />bonds which would otherwise be required. by applicable law, hereby agrees that, notwitbstand.ing any other
<br />provision hereof, or of law, this Financial Warranty shall remain in full force and eff?ct until U.S.F.S. has advised
<br />t:he Board by written notice that the Operator's obligations to U.S.F_S., for which this Warranty is executed, have
<br />been satisfied, and until the financial warranty has been released by the Board.
<br />If this Financial Warranty applies to lauds under the jurisdiction ofthe State Board of Land Commissioners
<br />("Land Board."), and. if this Financial Warranty, in. whole or in part, is accepted. by the Land Board as the bond
<br />required under its applicable law and procedures, then the Operator, having requested that the Board accept this
<br />financial Warranty in lieu of the separate bonds which would otherwise be required by the Colorado Mitred. Land
<br />Reclamation Board or. Division of Reclamation, Mining and Safety and by the Land Board, hereby agrees that,
<br />notwithstanding any other provision hereof„ or of law, this Financial Warranty shall remain to full force and
<br />effect until the Board is notified in writing by the .Land Board that the Operator's obligations to the Land Board,
<br />for which this Warranty is oxecuted, 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 arc under the jurisdiction of the Bureau of Land Managcment, United
<br />States Department of the Interior (the "BL"), and if at the request of the Operator on this Financial Warranty
<br />tli.e 'BLM has, pursuant to 43 C.P.R., 3809.1-9, accepted this financial Warranty in lieu of requiring a separate
<br />reclamation bond payable to the Untied States, then, notwithstanding any other provision of this Financial,
<br />Warranty, or of law, the Operator hereby agrees that this Financial Warranty shall not be released until the'Board
<br />is advised in. writing by the BLM that the Operator's obligations to the BLM,,for which this warranty is executed,
<br />have been satisfied, and, until the financial warranty has been released by the Board.
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