2005-07-25_GENERAL DOCUMENTS - M1977342 ‎(4)‎

• Permit No: M1977342
• IBM Index Class Name: General Documents
• Doc Date: 7/25/2005
• Doc Name: FW & Conditional Promissory Note/Deed of Trust
• Permit Index Doc Type: Gen. Correspondence
• Media Type: D
• Archive: No

STATE OF COLORA
DIVISION OF MINERALS AND GEOLOGY
Department of Natural Resources
1313 Sherman St., Room 215
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
FINANCIAL WARRAN'T'Y AND CONDITIONAL PROMISSORY NOTE
FOR THE USE WITH DEED OF TRUST
Operator C1iAf Ao A4 helot -t a hn L wren V
Operation Ph elF v�Q n 41i+a r 4 N 0/ ANI
Permit No. R - M 7 7 3 '�Z
KNOW ALL MEN BY THESE PRESENTS, THAT:
DIVISION OF
MINERALS
GEOLOGY
RECLAMATION
MINING - SAFETY
Bill Owens
Governor
Greg E. Walther
Executive Director
Ronald W. Cattany
Acting Division Director
WHEREAS, the Colorado Mined Land Reclamation Act, C.KS. 1973, 34 -32 -101 et �. (the "Act "), as amended,
provides that no permit may be issued under the Act until the Mined Land Reclamation Board (the "Board ") receives a
Financial Warranty (or Warranties) as described in the Act.
WHEREAS, (,�/ 00 1 &ka w- 119-1 (the "Operator "), a
Pe I o ul n to Corporation, has applied for a permit to con uct a mining operation .kn own as er+ eo svm
`' "He 2N ma/ the " O p eration"), on certain lands m Glsw� GR�tI< r
( leRA,vn County, Colorado. These lands are
described in the permit application, as amended and supplemented, and are referred to herein as the "Affected Lands ".
WHEREAS, as part of the application for the permit, the Warrantor has agreed to be bound by all requirements
of the Act and all applicable rules and regulations of the Board, as amended from time to time.
WHEREAS, in its application for the permit, the Operator has agreed with the State to provide for reclamation
of tIie Larids tl ai are ino or may become, stibjecf ­ fo the permit, as required bylaw.
WHEREAS, The Board has determined, in accordance with the Act, that the estimated costs of reclamation of the
Affected lands are those amounts for the stated periods of time as set forth herein. Said amount may be amended from time
to time to reflect revised estimates of said costs of reclamation.
WHEREAS, The Operator, in accordance with the Act, has promised and hereby promise the Board that it will
be responsible for all of the estimated costs of reclamation with regard to the Affected Lands.
WHEREAS, the Board has determined that the Financial Warranty by the Operator equals the estimated costs of
reclamation, as approved by the Board, with regard to the Affected Lands-
WHEREAS, as proof of its financial responsibility and pursuant to Section 34- 32- 117(3)(IV) of the Act, the
Operator has, as Grantor, executed and delivered to the Stateer NanSial FV a it d Conditional Promissory Note
.It (the "Financial Warranty ") for the original principal sum of�,uo a r i llars ($ z l qq 272. q6 ,
secured by a Deed of Trust in favor of the Public Trustee of
f a y jiv0 ° ° county, Colorado, cony - eying certain lands
in said county and state, as assurance for the faithful performance by the Operator of the Operator's obligations to the State
as evidence by this Financial Warranty.