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~e' ~ ~~G CNA INSURANCE COMPANIES ~ ~ a June 29, 1993 Mr. Thomas A. Schreiner Reclamation Specialist State of Colorado Mined Land Reclamation Division Department of Natural Resources 1313 Sherman St., Room 215 Denver, CO 80203 RE: Southwestern Cement Enterprises, Inc. Bond No. 702 53 83 Lyons Quarry - Permit No. 77-208 Dear Mr. Schreiner: JUL 02 1993 (~,,~- -5 • Dr -~7~' Since writing this bond April 3, 1987, American Casualty Company of Reading, PA, as Surety, has executed and filed annual Financial Warranty - Corporate Surety bonds. Please see attached your December 11, 1990 letter approving the reduction of the bond amount from X506,500 to X347,700 and requesting the submission of either a rider or a new Financial Warranty. In response,a Financial Warranty in the amount of X347,700 was filed at the renewal date of April 3, 1991 (see copy attached). Prior to the April 1993 renewal date, we became aware that a continuous form of the Financial Warranty - Corporate Surety existed which term corresponds to Colorado's treatment of the obligation. The continuous bond was then filed, relieving us of the necessity of executing such a document each year. However, during telephone conversations with your office, we received the impression that your records contained neither the April 3, 1991 or the April 3, 1992 "renewal" bonds in the amount of X347,700, which would have effectively reduced our exposure accordingly. Please confirm that the exposure under our bond was, indeed, reduced from X506,500 to X347,700 at least as early as April 3, 1991, the effective date of the first Financial Warranty of that amount. Please feel free to call me if you have any questions. A notation to this effect at the bottom of this letter with the date and a signature will be sufficient for our purposes. Si er(~(y, sn a WiTTi g am ~~ ~~ Surety Under sting Specialist