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~~ - i <br />1124th ESTATES PARTNERS.- <br />4545 East 60th Avenue, Suite 102, Commerce City, CO 80022 <br />Nov. 5, 2003 <br />Mr. Tony Waldron . <br />Division of Minerals and Geology/ ~~~.`ES~E® <br />1313 Sherman St. <br />Denver, Co. 80203 N~V Q $ 7QQ~ '~ <br />Re: Reduction of Securities Division of Minerals and Geology <br />Dear Mr. Waldron; <br />303-287-2721 <br />The total amount of our Irrevocable Letter of Credit with Valley Bank and Trust for our project <br />#M-2001-85 is $435,500.00. We are requesting a reduction as listed below. <br />Activity Value % Complete $ Value . • <br />Re-vegetation 2,161.00 0 0 <br />Liner 239,096.00 80 191,768.00 <br />' Grading Pond 722.00 0 0 <br />Mobilization and demob. 3950.00 90 3,555.00 <br />Dewatering 188,849.00 100 188849.00 <br />TOTAL 384,172.00 <br />We wish to apply.$224,385.00 to the financial warranty for,the amendment M-2001-085. <br />Revision AM-2; and have the balance returned to the owners. <br />Thank you for your time. df you need to call me, my number is 303-667-1666. <br />.Yours Truly, <br />!~ ~~--- <br />Les Ewegen <br />Project manager <br />