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<br />BOOTH & HUFFAKER <br /> <br />ATTORNEYS AT LAW <br />AN ASSOCIATION OF PROFESSIONAL CORPORATIONS <br /> <br />JOHN C. BOOTH, P.C. <br /> <br />ALSO LICENSED IN <br />OKLAHOMA <br /> <br />500 WEST MAIN STREET, SUITE 200 <br />FARMINGTON, NM 87401 <br /> <br />MICHAEL R. HUFFAKER, P.C. <br /> <br />ALSO LICENSED IN <br />NAVAJO TRIBAL COURT <br /> <br />MAILING ADDRESS, <br />POST OFFICE Box 15 <br />FARMINGTON, NEW MEXICO 87499 <br /> <br />(505) 325-0380 . FAX, (505) 325-4550 <br /> <br />August 25, 1999 <br /> <br />BY FEDERAL EXPRESS <br />and FACSIMILE TO (303) 866-4474 <br /> <br />Mr. Mike Serlet <br />Colorado Water Conservation Board <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br /> <br />Re: Pinon Mesa Ranches Community Association Loan. <br /> <br />Dear Mr. Serlet: <br /> <br />As you know, the current situation with the Association and its contractor, RMI Environmental <br />Services, Inc., is at an impasse. Should this impasse not be resolved, the inevitable result will <br />be the irrigation project not being completed and not able to generate the revenue to support <br />itself. Should the project fail to be generating revenue, the State's loan repayment is <br />jeopardized. <br /> <br />PMRCA is advancing a proposal in which the goals of each party are achieved. Key to the <br />success of this proposal is the recognition by all parties that failure to complete the project will <br />be detrimental. The corollary to this statement is the further recognition by all parties that the <br />completion the project will require further commitment and even sacrifice by all parties. <br /> <br />PMRCA has proposed to RMI that if RMI will agree to complete the project at a cost adjusted <br />for the work done by the Association, dismiss its lawsuit, and accept the supervision of an <br />engineer and if PMRCA obtains the consent of the CWCB to not only release the balance of <br />funds due on the present loan as well as increase funding to recognize the ultimately higher cost <br />of the project, PMRCA will allow RMI to complete the project as well as dismiss its lawsuit. <br />RMI has not yet responded. <br /> <br />To describe the total proposal in numeric terms, you will find attached three spreadsheets. <br />Attachment 1 is the analysis of the RMI agreements, which ends showing that RMI would be <br />paid $70,222.01 upon completion of the project. This is predicated on RMI's absorbing <br />whatever New Mexico gross receipts tax which may apply to that amount. This spreadsheet has <br />