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<br />eircurnstances exist,
<br />1, A Cease and Desist Order entered pursuant to Section 34-32-124 of the Act has been violated, and
<br />the corrective action proposed in such Order has not been, completed, although ample time to have done so has elapsed; or
<br />2. The Operator is in default under its Performance Warranty, and such default has not been cured,
<br />although written notice and ample time to cure such default has been given; or
<br />3. The Operator and/or the Warrantor has failed to maintain its Financial Warranty in good standing as
<br />required by the Act; or
<br />4. The Warrantor no longer has the financial ability to carry out its obligations in accordance with the
<br />Act,
<br />The description of lands herein is for convenience ofreference only, and no error in such description, nor anyrovision ofthe
<br />pernnitted mining area, nor the disturbance by the Operator of lands outside of the permitted mining area shall alter or
<br />diminish the obligations of the Operator and/or Warrantor hereunder, which shall extend to the reclamation ofall such lands
<br />disturbed.
<br />if this Financial Warranty applies to National Forest System lands, and if this Financial Warranty is accepted by the United
<br />States Forest S ervice ("U. S..F.S.") as the bond required under 3d C.F.R. 228.13, then the Operator, having requested that the
<br />Board and the U.S.F.S. accept this single Financial Warranty in lieu of the separate bonds which would otherwise be
<br />required by applicable law, hereby agrees that, notwithstanding my other provision hereof; or oflaw, thisFinancial Warranty
<br />shall remain in frill force and effect until U.S.F.S. has Advised the Board by written notice that the Operator's obligations to
<br />U.S.F.S., for which this Warranty is executed, have been satisfied, and until the financial wazrantyhas been released by the
<br />Board.
<br />If this Financial Warranty applies to lands under the jurisdiction of the State Board of Land Commissioners ("Land Board'),
<br />and if this Financial Warranty, in whale or in part, is accepted by the Land Board as the bond required under its applicable
<br />law and procedures, then the Operator, leaving requested that the State accept this Financial Warranty in lieu of the separate
<br />bonds which would otherwise be required by the Colorado Mined Land Reclamation Board or Division of Minerals and
<br />Geology and by the Land Board, hereby agrees that, notwithstanding any other provision hereof, or of law, this Financial
<br />Warranty shall remain in full force and effect until the Board is notified in writing by the Land Board that the Operator's
<br />obligations to the Land Board, for which this Warranty is execut4 have been satisfied, and until the financial warrantyhas
<br />been released by the Board_
<br />If all or any part of the Affected Lands are under the jurisdiction of the Bureau of Land Management, Mr ted States
<br />Department of the Interior (the "BLM"), and if, at the request of the Operator on this Financial Warranty, the BLM has,
<br />pursuantto 43 C,F1L 3809.1-9, accepted this Financial Warranty in lieu ofrequiring a separate reclamation bond payable to
<br />the United States, then, notwithstanding any other provision of this Financial Warranty, or of law, the Operator and
<br />Warmitor hereby agree that this Financial Warranty shall not be released until the Board is advised in writing by the BLM
<br />that the Operator's obligations to the BLM, for which Ibis Warranty is executed, have been satisfied, and until the financial
<br />warranty has been released by the Board.
<br />This Financial Warranty may be executed in multiple copies, each ofwhich shall be treated as an original, but togetherthey
<br />constitute only one agreement, the validity and interpretation of which shall be governed by the laws of the State of
<br />Colorado.
<br />The provisions hereof shall /rind and inure to the benefit of the parties hereto and their successors and assigns.
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