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-2- <br />Division shall, upon receipt of a request for bond release on such lands or a request for partial release <br />as to any portion thereof, and upon the completion of applicable procedures of law and regulation <br />governing release of bond, release the Principal and the surety of the extent that it determines such <br />reclamation to have been accomplished. <br />ADDITIONAL PROVISIONS <br />(1) The amount of this bond is based upon estimates as to the cost of reclamation, and <br />does not operate to liquidate, limit, enlarge, or restrict the Principal's obligations to complete the <br />reclamation plan and to comply in all respects with the Notice of Intent to Explore and with <br />applicable laws and regulations governing reclamation, even though the actual cost thereof may <br />substantially exceed the amount of this bond. <br />(2) The surety shall not be liable under this bond for an amount greater than the sum <br />designated in the first paragraph hereof, unless increased by a later amendment to the bond. This <br />bond shall be reviewed by the Board of the Division from time to time, and the Board or the Division <br />may require an increase in the principal sum of this bond (and .a corresponding increase in the surety <br />amount) to cover increases in the estimated costs of reclamation, but no such increase shall bind the <br />surety unless and until it shall have consented thereto in writing by the issuance of an additional <br />surety bond or by an endorsement to this bond. <br />(3) Surety reserves the right to cancel this bond, effective only upon an anniversary date, <br />and only by giving written notice to that effect, mailed by certified mail, at least ninety (90) days prior <br />to such anniversary date, addressed to both the Principal, at its address herein stated, and to the <br />Division at 1313 Sherman Street, Room 215, Denver, Colorado 80203. In the event of such <br />cancellation, this bond shall nevertheless remain in full force and effect as respects the reclamation of <br />all areas disturbed prior to the effective date of such cancellation, unless and until the Principal shall <br />file a substitute bond which: (1) assumes liability for all reclamation obligations which shall have <br />arisen at any time while this bond is in force, and (2) is accepted in writing by the Board or Division. <br />(4) In the event of such cancellation, if the bond is not fully released, the amount of the <br />continuing bond available for the reclamation of areas disturbed and unreclaimed at the date of <br />cancellation, shall be fixed by the Board or the Division at the amount it determines necessary to <br />complete such reclamation (which amount may not exceed the sum designated in the first paragraph <br />hereof) and the Board or Division shall concurrently identify such areas in writing, and notify the <br />Principal and the surety thereof. Thereafter, the obligation of the surety shall be limited to <br />reclamation of the areas so identified. <br />(5) The consideration for surety's execution of this agreement is the promise of the <br />Principal to pay the premiums, but failure by the Principal to pay such premiums shall not invalidate <br />or diminish surety's obligation hereunder. <br />(6) The description of lands herein set forth is for convenience of reference only, and no <br />error in such description, nor any revision of the permitted mining area, nor the disturbance by the <br />Principal of lands outside of the permitted mining area shall alter or diminish the obligation of the <br />Principal or the surety hereunder, which shall extend to the reclamation of all such lands disturbed. <br />