Laserfiche WebLink
v <br />t_ <br />- w <br />Additional Bond Amount: In the 2002 amendment a per acre rate was applied to the bonded <br />area at that time. This per acre rate assumes maximum disturbance throughout the entire area <br />bonded. In fact, that does not usually occur as some land in the bonded area remains undisturbed. <br />When this land is considered for release a calculation is a done to determine what the cost would <br />be to complete the reclamation from that point, assuming it is not fully reclaimed when the <br />release is applied for. The difference between that amount and the original per acre rate <br />determines how much bond is released for that release consideration. Thus, all bonded land <br />begins at the full per acre rate under the assumption that all the bonded land would be maximally <br />disturbed. Adjustments downward are then made as the reclamation proceeds. <br />2002 Amendment Bonding Rate (dollars per acre) _ $3,218.33 (see 2002 Amendment) <br />Land added for bonding in this revision = 31 acres <br />Additional Bond Amount = $99,768.23 <br />Current Bond Amount = $210,000 (see Enclosed Release Letter -Oct 22, 2002) <br />New Bond Amount = $309,768.23 ($310,000 provided in new bond form) <br />Bond Form: As Schmidt Construction is bonded under aself-bonding arrangement, a new <br />bond form is provided for the New Bond Amount stated above. Also included is a copy of the <br />latest Financial Statement (December 31, 2002). A new Financial Statement will be available on <br />or about April I5, 2004. That one will be as of December 31, 2003. A copy of the new Financial <br />Statement will be provided, if needed. Previously, a new Performance Warranty was not required <br />so a new Performance Warranty is not included. <br />Coal Creek Resources - M-1988-044 Bond Increase TR March 2004 Page 2 of 2 <br />