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<br /> <br /> <br />WHEREAS, on May 3, 1990, the Division issued NOV C-90-012, <br />copy of which is attached, to PCI for failure to provide perfor- <br />mance bond coverage and requiring PCI to abate the violation by <br />June 1, 1990; and <br />WHEREAS, as of June 6, 1990, PCI has not provided the addi- <br />tional information and bond required pursuant to the December, <br />1989 Board Order and has not abated NOV C-90-012; and <br />WHEREAS, PCI has violated the terms and conditions of the <br />bond and has failed to take adequate corrective action; and <br />WHEREAS, PCI has requested an extension to June 26, 1990 to <br />abate NOV C-90-012; <br />WHEREAS, it is in the best interest of the People of the <br />State of Colorado that, in the event of bond forfeiture, the <br />Board make a timely presentation of a draft against the letter of <br />credit; <br />NOW THEREFORE, PCI and the Division hereby stipulate that: <br />1. The Division has extended the time to abate NOV C-90-012 to <br />June 26, 1990• J4~'/ 15 9"^ <br />2. Grounds exist for the forfeiture of the bond pursuant to <br />2 CCR 407-2, Rule 3.04.1(1)(a), because PCI has violated <br />the terms and conditions of the bond and has not replaced <br />the bond. <br />3. PCI shall not contest bond Forfeiture at the June 1990 <br />Board meeting. However, the Division shall not seek bond <br />forfeiture if PCI provides the Division with a substitute <br />bond in the amount of $931,150.00, in a form allowed by <br />2 CCR 407-2, Rule 3.02.4, by June 26, 1990. <br />4. In the event the Hoard forfeits the bond pursuant to the <br />terms of this Stipulation, PCI shall not seek judicial <br />review of such bond forfeiture. <br />5. Except for such monitoring and maintenance activities as <br />are approved by the Division, PCI shall not conduct any <br />surface coal mining operations at the site pending final <br />Hoard action on the application for permit renewal. <br />6. PCI and the Division shall recommend that the Hoard not <br />take final action on the renewal application at the June <br />-2- <br />