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Letter to Larry Perino -2-. August 9. 1996 <br />Minerals Program Administration Fee @ 5.00$ of contract: $33,181.00 <br />Total required Financial Warranty (direct plus indirect plus DMG admin.): <br />$fi97,000.00 <br />Based on the estimate presented above, additional Financial Warranty in <br />the amount of $197,000.00 is required beyond the $500,000.00 already <br />provided in order to satisfy Commitment f`3 to the approval of Technical <br />Revision TR-014 to the Sunnyside Mine permit. Since the valve on the <br />American Tunnel bulkhead has already been closed following a verbal <br />approval by Division Director Michael B. Long, the additional Financial <br />Warranty should by provided as soon as possible, but no later than 60 days <br />following the date of this letter. Also, the Financial Warranty-Letter <br />of Credit bonding form needs to be executed by SGC in support of the <br />$500,000.00 Irrevocable Letter of Credit issued by the Royal Bank of <br />Canada, New York Branch that SGC has already provided. A copy of this <br />bonding form is provided for your use. As you know, this is the second <br />time that the Division has requested that this form be executed by SGC, <br />as such, this form must be executed by SGC and provided to the Divisian <br />as soon as possible, but no later than 4:00 p.m. MDT on August 16, 1996. <br />IP you wish to discuss the Divisions cost estimate, or if you have any <br />other questions, please contact me. <br />Sincerely, <br />Allen C. Sorenson <br />Reclamation Specialist <br />enclosure(s) <br />ec: Deborah Mulloy, DMG (w/o enclosure) <br />Cs\WP51\SGCIO.BND <br />