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IV RECITALS <br />V. AGREEMENTS <br />-4- <br />Onn ,ja// , cQ © / 0 Permit Number /fi Ji2 2i 9� was granted to <br />7 <br />(existing j on eerator) / ( "Permittee "), pursuant to which <br />r I / ✓ State of Colorado <br />Pennittee has been conducting a mining operation in the County /! <br />ty p <br />2. Permittee wishes to assign the permit toC ,/5�e \ �� Y1 nr f� / Acil (new <br />operator), as Successor Operator ( "Successor ") and St�fccessor wis es to b'ieome Successor Permittee under the <br />pennit <br />3 Successor understands that the reclamation plan (the "Plan ") required by the permit and by applicable <br />State laws and regulations has not been completed and is willing to assume full responsibility for the completion of <br />the Plan <br />Pennittee and Successor hereby agree, for their own benefit and for the benefit of the State, such agreements to be <br />effective ipso facto upon the approval by the State of the transfer of the Permit from Permittee to Successor, as <br />follows: <br />1 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 Permit. <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 Pennittee under the Pennit which have not heretofore been performed by Pennittee. <br />3. Successor hereby tenders to the State its attached Performance 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 Warranties. <br />4. Successor represents to the State that, to the best of its knowledge, information and belief, it is not in <br />violation of any of the provisions of the Colorado Mined Land reclamation Act with respect to any other operation <br />conducted by it in the State of Colorado. <br />Pennittee and Successor hereby request the State to consent to the assignment of the Permit, to recognize <br />Successor as Successor Operator under the Permit, and to accept the tendered substitute Performance and Financial <br />Warranties in place of the Warranties presently on file with the State. <br />