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- 2 - <br />WHEREAS, the Operator hereby gives the Board a performance warranty pursuant to <br />Section 34-32-117(2) or Section 34-32.5-117(2) of the Act, and herein promises the Board that it will comply <br />\vith all applicable requircrilents of the Act with regard to those Affected Lands. <br />�O1-V, THEREFORE, the Operator hereby promises the Board that it will comply with all applicable <br />requirements of the Act and rules and regulations of the Board with respect to the Affected Lands. <br />FURTHER. the Operator hereby promises the Board that it will cornply with all of the tenns 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 />F(JRTHER, 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 raining operations, including, but <br />slot limited to, reclamation. The Operator further recognizes the right of the Board to enter to reclaim lands <br />affected by the operation. <br />'I 'he description of lands herein is for convenience of reference only, and no error in such description, nor <br />ally revision of the permitted mining area, nor the disturbance by the Warrantor of lands outside of tlic 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 />The obligation of the Operator hereunder is such that, 1fthe Operator shall successfully comply with the <br />rccl Ill rcnaents 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 the extent that the Board determines that such compliance has been accomplished. The obligation <br />of the C)perator heCerin(1Cr shall continue until released in whole or in part by the Board in accordance with <br />applicable. Jaw. <br />III f Urther satin faction 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 />nay he amended from tine to tinge. The Operator agrees that it will maintain a financial warranty (or wan <br />for the estimated 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 />EXtl_CMi011 of COrlStr "UCliorl Materials, any Applicant or Operator that submits proof, acceptable to the Board or <br />1)i� ision of Rcc.larnatloll, Mining and Safety, that an Applicant or Operator is a unit of County or Municipal <br />20% or is a department or division of State government, the Applicant or Operator is not required to <br />submit or post anyother instrument of financial responsibility but hereby promises to be responsible for the cost <br />of reclamation up to the amount specified by the Board. <br />I I the Board determines that the Operator is in default under this perfor niancc warranty and has tailed to <br />came such default, although %k rilten notice of such default and ample tine to cure such default have been given, <br />the Operator's financial warranty shall be subject to forfeiture. <br />Thais pe.rforrnance vvarranty may be executed in multiple copies, each of' which shall be treated as an <br />original, but together they constitute only one agreement, the validity and interpretation of which shall be <br />1110vcrned by the laws of the State of Colorado. <br />