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<br />STATE OF COLORADO <br />MINED LAND RECLAMATION BOARD <br />DEPARTMENT OF NATURAL RESOURCES <br />IN THE MATTER OF: CAMAS Inc. ) BOARD ORDER <br />3609 S. Wadsworth Blvd., Ste 300 ) <br />Lakewood, CO 80235 ) <br />TO: CAMAS Inc. and Cooley Sand and Gravel and all other persons engaged in or owning or <br />controlling the Morrison Quarry mining operation located in Sections 10 and 11, <br />Township 55, Range 70W of the 6th P.M., in Jefferson County, Colorado. <br />FINDINGS OF FACT <br />Pursuant to the authority vested in the State of Colorado Mined Land Reclamation Board by <br />C.R.S. 3432-123, the Board hereby makes the following findings of fact: <br />On December 14, 7995 the Board conducted a hearing on the consideration of the Deed <br />of Trust posted for the Morrison Quarry and other CAMAS operations. <br />2. On December 14, 7995 the Board issued the attached Board Order to post an interim bond <br />to CAMAS Inc. and Cooley Sand and Gravel. <br />3. The Division of Minerals and Geology presented evidence at the Formal Public Hearing on <br />Morrison Quarry, demonstrating that: <br />a. The Deed of Trust is agreed to be worth $4,082,000.00. <br />b. This bond was posted in response to a request for an increase to their reclamation <br />bond on March 14, 1995. <br />c. The Deed of Trust may not be easily convertible to cash within 180 days of forfeiture <br />and the value of the Deed of Trust may be dependent on the success, profitability, <br />or continued operation of the mine. <br />BOARD ORDER <br />Based upon the foregoing Findings of Fact and pursuant to C.R.S. 3432-123(2) the Mined Land <br />Reclamation Board hereby orders the separate interim reclamation bond in the amount of <br />$408,200.00 to (10 percent of the Total Deed of Trust value) to be posted with the Division of <br />Minerals and Geology within 60 days of the signature date of the Board meeting date <br />(February 12, 1996). <br />