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4. <br />IV. RECITALS <br />I 1 On -� <br />-nnV V.S�6 _2_ ___- ._ -- -, - �-.� <br />Pertrut Lumber /7_71 � <br />was granted to <br />R c ►P . ! K �12yvt��y - --- (existing operator) (Termittee "), pursuant to which <br />rV150►� � <br />Permittee has been conducting a mining operation in the County of <br />--Do. 9) State of Colorado. <br />2. Pernuttee wishes to assign the permit to 2GLP- wgral- . _ r; CK Z►'1G <br />operator), as Successor Operator ( "Successor ") and Successor wishes to become Successor Permittee under the <br />perflut, <br />3. Successor understands that the reclamation plan (the "Plan ") required by the permit and by applicable <br />State taws and regulations has not been completed and is willing to assume fill responsibility for the completion of <br />the Plan. <br />V. AGREEMENTS <br />l'crrnit7ee and Successor hereby agree. for their mvii benefit and for the benefit of the State, such agreements to be <br />of lective �> facto upon the approval by the State ofthe transfer ofthe Permit from Permittec to Successor, as <br />follows: <br />I . Successor has inspected the mining and reclamation operations to its entire satisfaction and is fully aware <br />of the conditions thereof. Successor understands and accepts all of the conditions of the Per rtit. <br />2. Successor will complete the reclamation plan, and hereby assumes liability for completing such 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 Pernuttee under the Permit which have not heretofore been performed by Pennitree. <br />_ . Successor hereby tenders to the State its attached Perfornlilnce and Financial Warranties *, which are to be <br />substituted for the Performance and Financial Warranties heretofore filed by the Permittee, effective upon the <br />release of the latter Wan <br />4. Successor represents to the State that, to the best of its knowledge, information and belief, it is not in <br />violation ofany ofthe provisions ofthe Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />I'cnmit Ice and successor hereby request the State to consent to the assignment ofthe permit, to recognize Successor <br />J', Succcs,ur Operator under the Permit, and to accept the tendered suhstitute Performance and Financial <br />Wananfics in place ofthe VVarranties presently 011 file with the State. <br />