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iii iiiiiiiiiiiiiiii <br />999 <br />PARCEL, MAURO, HULTIN & SPAANSTAA, P.G. <br />ATTORNEYS AT UW <br />SUITE J600 <br />1601 CALI~DRNIA STREET <br />DENVER COLORl.0p 60202 <br />TELEPHONE 130312926400 <br />EiRENT C. ANDERSON TELECOPIER 13oJIZ96~JO4o <br />li <br />U ~: ~~ L.~ a <br />August 8, 1990 AU G 8 1991 <br />i~INED t.AtdD <br />lei=CIAAAATION DIVIR~'-' I <br />DELIVERED BY MESSENGER <br />Mr. Fred Banta, Director <br />Colorado Mined Land Reclamation Division <br />1313 Sherman Street, Room 215 <br />Denver, Colorado 80202 <br />Re: Grassy Gap Mine -Permit No. C-81-039 -- Bond Release Request <br />Dear Fred: <br />By an Order of the Colorado Mined Land Reclamation Board ("CMLRB'~ dated <br />December 14, 1989, the reclamation bond for the Grassy Gap Mine was established in the <br />amount of $572,000. The Rockcastle Company ("Rockcastle'~ currently maintains a <br />$446,680 reclamation bond for the Grassy Gap Mine site. Pursuant to an Agreement <br />between Rockcastle and the Colorado Mined Land Reclamation Division ("CMLRD'~ dated <br />June 26, 1990 (the "CMLRD Agreement', Rockcastle agreed to perform certain <br />reclamation activities in order to reduce the reclamation liability for the site. The CMLRD <br />Agreement contemplates that CMLRD will release bond monies through a series of partial <br />bond release requests based upon reclamation activities conducted by Rockcastle at the site. <br />Rockcastle has completed substantial reclamation activities at the Grassy Gap site. This <br />letter constitutes the formal request on behalf of Rockcastle for a partial bond release in <br />accordance with the provisions of the CMLRD Agreement. <br />Specifically, pursuant to § V of the CMLRD Agreement, Rockcastle hereby requests <br />a partial release of Rockcastle's $572,000 reclamation performance bond in the amount of <br />$222,622. As of August 1, 1990, Rockcastle returned 268,219 cubic yards of overburden <br />material to Pit 4 (as documented in Attachment A hereto) and reduced the pit volume by <br />a corresponding amount. The $222,622 partial bond release requested herein was <br />determined by multiplying the volume reduction in Pit 4 by $0.83 per cubic yard of volume <br />reduction. <br />Section V.4 of the CMLRD Agreement provides that CMLRD will return no bond <br />monies to Rockcastle until Rockcastle's reclamation liability at the Grassy Gap Mine site <br />is reduced to less than its current bond amount of $446,680 by reducing the volume of Pit <br />