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effective on December 3, 2013. Therefore, the $44,000 civil penalty was due on <br />January 2, 2013. <br />F. The Parties held a meeting on December 17, 2013 in an effort to <br />resolve outstanding issues in this matter. The Parties agree that additional time is <br />needed to continue discussions in an effort to reach a stipulated settlement <br />agreement for presentation and approval by the Board to address, among other <br />unabated corrective actions, repair and stabilization of the access road. <br />Agreement <br />1. The Parties agree to continue the January 15, 2014 enforcement/ warranty <br />forfeiture hearing to February 19, 2014 to allow additional time to discuss settlement. A <br />Stipulated Agreement will be presented to the Board for consideration and approval during <br />the February 19, 2014 hearing. It is agreed that in the event the Parties are unable to <br />reach agreement by February 7, 2014 the matter will proceed before the Board on February <br />19, 2014 as an enforcement and financial warranty forfeiture hearing. No additional notice <br />will be required. <br />2. As a showing of good faith and to demonstrate its financial ability to complete <br />the necessary access road repair and stabilization work Wildcat agrees to establish and <br />fund a cash escrow account with a Bank authorized to do business in the State of Colorado <br />no later than January 31, 2014. The initial deposit shall be in the amount of $100,000 and <br />proof of the escrow account and the certified funds shall be provided to the Division. The <br />total amount to be held in escrow and the timeline for subsequent deposits will be <br />addressed in the Stipulated Agreement. In the event Wildcat fails to establish and fund an <br />escrow account by January 31, 2014 the Division will terminate settlement discussions and <br />the matter will proceed before the Board on February 19, 2014 as an enforcement and <br />financial warranty forfeiture hearing. No additional notice will be required. <br />3. The Parties agree to extend, nunc pro tunc, the January 2, 2014 civil penalty <br />due date to February 20, 2014. The Parties will address the civil penalty as part of the <br />Stipulated Agreement, The Division agrees to stay further enforcement and collection of the <br />civil penalties pending resolution through Stipulated Agreement. <br />