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Colorado Water Protective and Development Association <br /> 1220 East 3Id Street kent(o-)-cwpda.org <br /> P <br /> La Junta, CO 81050 www.cwpda.org <br /> Phone: (719) 384-2754 <br /> Fax: (719) 384-2123 <br /> August 3, 2020 <br /> Division of Reclamation, Mining and Safety <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 215 <br /> Denver, Colorado 80203 <br /> RE: Financial Warranties for Succession of Operator Requests <br /> DRMS Permit Nos. M1977573 and M1986015 <br /> To Whom it May Concern: <br /> Continental Materials Corporation ("Continental" or "Permittee") and Colorado Water <br /> Protective and Development Association ("CWPDA" or "Prospective Successor") have <br /> concurrently filed Transfer of a Mineral Permit and Succession of Operator Packets regarding <br /> transfer of DRMS Permit Nos. M1977573 and M1986015 (the "Permits") from Continental to <br /> CWPDA. Transfer of the Permits from Continental to CWPDA and assumption of operatorship <br /> by CWPDA is conditioned on the transaction between Continental and CWPDA successfully <br /> closing. If Continental and CWPDA do not successfully close, the Permits shall remain with <br /> Continental and CWPDA will not assume any rights in or obligations to the Permits. <br /> The Colorado Mined Land Reclamation Act provides "[t]he board may accept interests in real <br /> and personal property as financial warranties . . . ." C.R.S. § 34-32-117(3)(b). DRMS has not <br /> provided a form for pledging interests in real property as financial warranties. Therefore, as <br /> Financial Warranties for CWPDA's assumption of the Permits, conditioned on successful closing <br /> between Continental and CWPDA, CWPDA requests that the Board accept interests in the real <br /> property owned by CWPDA and described as follows: <br /> • CWPDA's pro rata shares of water from the water rights owned or controlled by the <br /> Holbrook Mutual Irrigating Company ("HMIC"). As detailed below, CWPDA owns 280 <br /> shares or 1.7% of the total 16,243.5 shares of capital stock in HMIC. CWPDA's HMIC <br /> shares have an original appropriation dates of September 25, 1889 and August 30, 1893. <br /> A portion of HMIC shares are owned by the City of La Junta and were changed for <br /> municipal, irrigation, industrial, commercial, recreation, augmentation, and domestic <br /> uses by the decree entered on February 2, 2016 in Case No. 11CW13 (District Court, <br /> Water Division 2). CWPDA's HMIC shares are decreed for irrigation use and have not <br /> been changed or modified by the District Court, Water Division 2. <br /> 4747564-1 <br />