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WHEREAS, the Board has determined, in accordance with the Act, that the estimated costs of <br />reclamation with regard to those affected lands in Yuma County which are now or may become subject to <br />the permit are those amounts for the stated periods of time as set forth in the financial warranty, which may <br />be amended from time to time to reflect revised estimates of said costs of reclamation. <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 <br />comply with all applicable requirements of the Act with regard to those Affected Lands. <br />NOW, THEREFORE, the Operator hereby promises the Board that it will comply with all <br />applicable requirements of the Act and rules and regulations of the Board with respect to the Affected <br />Lands. <br />FURTHER, the Operator hereby promises the Board that it will comply with all of the terms of <br />the application for a permit, as amended and supplemented, as well as any conditions attached to the <br />permit by the Board. <br />FURTHER, the Operator promises the Board, pursuant to 34- 32- 112(2)(d) or <br />34- 32.5- 112(1)(c)(iv) of the Act, that it has the lawful authority to enter upon the Affected Lands to <br />conduct mining operations, including, but not limited to, reclamation. The Operator further recognizes <br />the right of the Board to enter to reclaim lands affected by the operation. <br />The description of lands herein is for convenience of reference only, and no error in such <br />description, nor any revision of the permitted mining area, nor the disturbance by the Warrantor of lands <br />outside of the permitted mining area shall alter or diminish the Operator's obligation hereunder, which <br />shall extend to the reclamation of all such lands disturbed. <br />The obligation of the Operator hereunder is such that, if the Operator shall successfully comply <br />with the requirements of the Act, applicable rules and regulations, and the permit, then the Board, upon <br />a finding that the Operator has so complied, shall release this performance warranty, and the Operator <br />from its obligation hereunder, to the extent that the Board determines that such compliance has been <br />accomplished. The obligation of the Operator hereunder shall continue until released in whole or in part <br />by the Board in accordance with applicable law. <br />In further satisfaction of the requirements of the Act, the Operator promises to be responsible for <br />the cost of reclamation up to the amount established by the Board and has attached hereto its financial <br />warranty, which may be amended from time to time. The Operator agrees that it will maintain a <br />financial warranty (or warranties) for the estimated costs of reclamation in good standing for the entire <br />life of the permit. Please note that under the provisions of the Colorado Mined Land Reclamation Act <br />and the Colorado Land Reclamation Act for the Extraction of Construction Materials, any Applicant or <br />Operator that submits proof, acceptable to the Board or Division of Reclamation, Mining and Safety, <br />that an Applicant or Operator is a unit of County or Municipal government, or is a department or <br />division of State government, the Applicant or Operator is not required to submit or post any other <br />instrument of financial responsibility but hereby promises to be responsible for the cost of reclamation <br />up to the amount specified by the Board. <br />