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-2- <br /> WHEREAS, as part of the application for such Permit, Principal has <br /> agreed with the State to complete a specified plan ("the Plan") for the <br /> reclamation, as required by law, of the area or areas of lands disturbed by <br /> reason of mining operations. Such Plan may be amended from time to time with <br /> the approval of the State, acting through the Department of Natural Resources, <br /> Mined Land Reclamation Division ("the Division") or Mined Land Reclamation <br /> Board ("the Board"). <br /> (The phrase "Board or Division" in this bond means that organ of State <br /> government which has the authority to act in the circumstances referred to <br /> under the Colorado Surface Coal Mining Reclamation Act (34-33-101 et seg.) <br /> NOW, THEREFORE, the conditions of this obligation are such that, if the <br /> above-bonded Principal shall, in conducting such mining and reclamation <br /> operations, faithfully perform the requirements of the Plan, as amended from <br /> time to time, the conditions of the Permit, as amended from time to time, and <br /> all applicable provisions of law, including the regulations adopted pursuant <br /> to applicable statutes, and if the Board or the Division shall make a finding <br /> that the lands upon which such operations have been conducted have been <br /> satisfactorily reclaimed, and if the Board or the Division shall receive a <br /> request for a bond release on such lands or a request for partial release as <br /> to any portion thereof, then this obligation shall be exonerated and <br /> discharged and become null and void to the extent released in writing by the <br /> Board or the Division; otherwise to remain in full force and effect. <br /> ADDITIONAL PROVISIONS <br /> (1 ) The amount of this bond is based upon estimates as to the cost of <br /> reclamation, and does not operate as a limit upon or otherwise restrict the <br /> Principal 's obligations to complete the reclamation plan and to comply in all <br /> respects with the Permit and with applicable laws and regulations governing <br /> reclamation, even though the actual cost thereof may substantially exceed the <br /> amount of this bond. <br /> (2) This bond shall be reviewed by the Board or the Division from time <br /> to time, and the Board or the Division may require an increase in the <br /> principal sum of this bond to cover increases in the costs of reclamation. <br /> 1 <br />