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r • • <br />Mr. Gregg R. Squire <br />August 16, 1996 <br />Page - 3 <br />Claimant shall receive no other payment under the <br />Plan. as the holder of administrative claims. <br />general unsecured claims. or otherwise." (Emphasis <br />supplied) <br />3.0 The Alternative Plan For Funding_the Deficiency. <br />3.1 Negotiations have been pending for some time <br />between Mid-Continent Resources, Inc., (Mid-Continent), the U. S. <br />Bureau of Land Management (BLM) and the DMG for an alternative <br />arrangement to provide for reclamation of the Marble Head Quarry, <br />the Mid-Continent Quarry and to meet the deficiency in bonding. <br />The principal elements are as follows: <br />3.1.1 The ownership and interest of Mid-Continent <br />and Pitkin Iron Corporation would be transferred to Garfield <br />County, Colorado in return for assumption of reclamation <br />responsibilities by Garfield County. <br />The $2,500 Certificate of Deposit pledged to the Marble <br />Head reclamation would be transferred to the Mid-Continent <br />Quarry. <br />3.1.2 The contest concerning ownership of quarried <br />materials, primarily screenings from past quarrying, in the Mid- <br />Continent Quarry would be settled by withdrawal of Appeal taken <br />by Mid-Continent and Pitkin Iron Corporation to the Board of Land <br />Operations Appeals from BLM Decision claiming ownership of such <br />stockpiled quarried materials and payment by Pitkin Iron <br />Corporation of $0.75 per cubic yard to BLM as a royalty on such <br />quarried materials. <br />3.1.3 Pitkin Iron would pay Mid-Continent the <br />balance of deficiency, which in turn would be pledged by <br />Certificate of Deposit in favor of DMG as surety to supplement <br />the $7,000 now held by DMG. <br />3.2 These negotiations have been suspended pending <br />