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~~ ~ • i <br />Mr. Gregg R. Squire <br />August 16, 1996 <br />Page - 4 <br />determination of an investigation initiated by BLM which was <br />referred to EPA, concerning suspected hazardous materials at the <br />Quarry site. As a part of the investigation, the Quarry has been <br />sealed and access denied to Mid-Continent pending completion of <br />the investigation. <br />4.0 Summary and Recommendation. <br />4.1 The Liquidation Plan prohibits the Trustee from <br />disbursing funds for reclamation other than as provided in the <br />Liquidation Plan, which either (i) limits Mid-Continent Quarry <br />reclamation to $7,000 already deposited, (ii) or to $7,000 <br />supplemented by additional monies derived from sale proceeds of <br />estate assets and paid over to DMG. (Over $1,000,000 has been <br />paid to DMG from property sales.) <br />The imposition by DMG and MLRB of fines and penalties <br />on the Debtor for failure to post additional surety would be in <br />direct contravention of 4.3.3 of the Liquidation Plan as approved <br />by the United States Bankruptcy Court. <br />4.2 It is suggested the matter be continued pending <br />completion of negotiations under the alternative plan mentioned <br />under Paragraph 3 above recognizing that the settlement would be <br />subject to approval by DMG. <br />No mining or other activities are in progress at the <br />Mid-Continent Quarry and no detriment to the environment would <br />occur as a result of continuing the matter. <br />Sincerely, <br />MID-CONTINENT RESOURCES, INC. <br />BY. ~ Q <br />Robert Delan <br />Vice President <br />