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Rct nti III I II I II I II IIII III S IC, J I 4 i5F'\I CC I'fT G3-. I')IH&S? N 2 <br />sss <br />Rancfih Escondido <br />A~ ~~ ~. <br />2028 bTRAUi LAN!, SUITE 1200. COLOHAIA! SPRING6, COI.OFAUO Bo9u/ .17191 520-1 Sfi I ~ FA% 17101 540 t 593 <br />May 12, 1994 <br />Dear Mr. & Mre. <br />Recently Basin Resources, lnc. President, Mr. Earl White, has <br />sent a letter to Rancho Eec:ondido owners. 9'his letter is <br />Inaccurate, to say the leapt, and is nc~thiuli f,ut an attempt to <br />prevent our owners from building on their Tats f.or whic:tt Basin <br />Resources is 100 percent liable far any damages they cause as a <br />result of their underground mining activity. <br />Thtl lulluwiuy la a oLuiL lint' 81: e16n1'la. soil 1.l.aWr auliuue Leiuy <br />presented by Earl White. <br />1. The 1976 permit issued to Basin was not fnr [,ongwali mininy. <br />In fact, it states "no subsidence is likely to occur". <br />2. In 1981, a aubdivi.si.on plat was approved on a portion of <br />Rancho Eecondidc with certain cavenantb filed. None of thi.e <br />property is within the aubdlvi.si.on wrr gave developed or which you <br />have purchased. Tt consisted of 2 to acre tracts instead of <br />35t acre tracts. The statement i.n the letter i.s totally <br />inaccurate. <br />3. All but four buyers were provilie(i wit: 1: a I:nmplete d.i.sc.losut:e <br />at the time of purchase, and three r/f. these received subsequent <br />notice and information. This is in total. contradiction to what <br />Enrl White would like you to believe. <br />At our annual meeting, a lengthy discussion was held regarding <br />the potential mining problems, and ciaYa was made available as we <br />received it. <br />4. Nis letter states "their request reslll.teci ilt Raton west <br />eignificantl.y revising our discloser practices". This is a total <br />fabrication!! They had nothing whatsoever to do with our <br />revision of our disclosure statement and in fact, we made the <br />ravioion immudiat„ly upon heat-ing rif a IlfSt'PII+IHI r.nnflir.t. nr <br />problem. <br /> <br />