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- - <br />WHI'REAS, the Operator hereby gives the Board a performance warranty pursuant to <br />Seciion 34 -32 -1 17(2) or Section 34- 32.5 -1 17(2) of'the A.ct, and herein proritises the Board. that it will comply <br />with all applicable requirements of the Act with regard to those Affected Lands. <br />NIMV, THFREFORL the Operator hereby promises the Board that it will comply with all applicable <br />reclulrcments of the Act and rules and regulations of the Board with respect to the Affected Lands. <br />FUR f1IER, the Operator hereby promises the Board that it will comply with all of the teens of the <br />application for a permit, as amended and supplemented, as well as any conditions attached to the permit by the <br />Board. <br />FURTHER, the Operator promises the Board, pursuant to 34- 32- 112(2)(d) or 34- 32.5- 112(1)(c)(iv) of the <br />Act, that it has the lawful authority to enter upon the Affected Lands to conduct mining operations, including, but <br />not Iii to, reclamation. The Operator further recognizes the right of the Board to enter to reclaim lands <br />af'lccied by the operation. <br />'Elie description of'lands herein is for convenience of reference only, and no error in such description, nor <br />any revision of the permitted mining area, nor the disturbance by the Warrantor of lands outside of the permitted <br />mining area shall alter or diminish the Operator's obligation hereunder, which shall extend to the reclamation of <br />all such lands disturbed. <br />T]ic obligation oft lie Operator hereunder is such that, if the Operator shall successfully comply with the <br />requircrnents of the Act, applicable rules and regulations, and the permit, then the Board, upon a finding that the <br />Operator has so complied, shall release this performance warranty, and the Operator from its obligation <br />hereunder, to tale extent that the Board determines that such compliance has been accomplished. The obligation <br />of the Operator hereunder Shall continue until released in whole or in part by the Board in accordance with <br />applicable law. <br />In Iln satisfaction of the requirements of the Act, the Operator promises to be responsible for the cost <br />of reclamation up to the amount established by the Board and has attached hereto its financial warranty, which <br />may he amended from time to time. "Elie Operator agrees that it will maintain a financial warranty (or warranties) <br />for the estinttrted costs of reclamation in good standing for the entire life of the permit. Please note that under the <br />provisions of the Colorado Mined Land Reclamation Act and the Colorado Land Reclamation Act for the <br />[,= :xlrrct]oil of Construction Materials, any Applicant or Operator that submits proof, acceptable to the Board or <br />D]\ ision of Reclamation, Mining and Safety, that an Applicant or Operator is a unit of County or Municipal <br />, ovcrnnrcirt, or is a department or division of State government, the Applicant or Operator is not rcquired to <br />suhnr it or post any other instr of financial responsibility but hereby promises to be responsible for the cost <br />of'rcclarn<rtion up to the am0unt spccificd by the Board. <br />If the Board cleternrincs that the Operator is in default wider this performance warranty and has ('tiled to <br />c:rirc such dcfaiilt, alihough written notice of default and ample time to cure such default have been given, <br />the Operator's firnancia.l xvananty shall be subject to forfeiture. <br />This performance warranty may be cxccutcd in multiple copies, each of' w hich shall be treated as arc <br />original, but together they constitute only one at,reement, the validity and interpretation of which shall be <br />1_10ver1)ed by the laws of the Statc of' Colorado. <br />