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O <br />O <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Depanmenl of Natural Resources <br />1317 Sherman St., Raom 215 <br />Denver, Colorado 80203 <br />Phone: 13031 8,66- 3 567 <br />FAX: 0031 8 3 2-8106 <br />July 13, 1994 <br />~II ~I~~I~~I~~~~~~I~ <br />999 <br />I/~~f~`~,G1~hyI <br />DEPARTMENT OF <br />NATURAL <br />RESOURCES <br />Roy Romer <br />Mr. Albert Frei, Jr. Governor <br />Albert Frei ~ Sons, Inc. lames s.iocnnead <br />11$21 Brighton Rd. Ezecmive Director <br />Henderson, CO 80640 Michael B. Long <br />Division Direc~or <br />RE: Financial Warranty securing Permits M-77-011, M-77-153, M-77-526, M-78- <br />255, M-78-279, M-79-165, M-81-096, M-81-231, M-83-033, and M-86-079: <br />Dear Mr. Frei: <br />Recently, as requested, you provided this Office with a new title search on the <br />property you are using to secure the reclamation bonds on the above permits. <br />In the review of that document it was found that you have several judgement liens <br />against that property which are subsequent to the State's lien and therefore not <br />an issue. The impediment that is problematic for this Office is the deed of <br />trust filed by the Colorado National Bank of Denver in the amount of $2,375,600 <br />which would have priority over the State's interest in this property. <br />Therefore, it is imperative that you provide the following documents to this <br />Office prior to the date of the next Mined Land Reclamation Board Hearing which <br />is scheduled for 9:00 AM on July 27-28, 1994 in Room 318, 1313 Sherman Street, <br />Denver, Colorado: <br />1) Proof, in the form of such documentation from the bank as may be <br />necessary, that such debt to the Colorado National Bank of Denver has been <br />satisfied; <br />2) If such debt has not been satisfied then you must submit an alternative <br />form of financial warranty in order to secure the remaining balance of <br />$336,600. <br />Please plan to attend this formal hearing. <br />If you have any questions regarding this letter, please contact Lavern Lemay. <br />Sincerely, <br />H. Bruce Humphries i ^ .._ <br />Program Supervisor <br />cc: Carl B. Mount, DMG <br />Deborah Mulloy, DMG <br />Steve O'Brien, Environment, Znc. <br />\lpl <br />CERTIFIED MAIL NO. P 296 603 152 <br />Return Receipt Requested <br />