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-2- <br /> The total of St. Paul Insurance Company bonds held by the Division ng <br /> Bond No. 400GZ9592 for $90,000.00) is $443,268.00 ($25,000.00, $373,948.00, <br /> $21 ,500.00, $4, 120.00, $4,700.00, $4,000.00, $5,000.00 and $5,000.00 = <br /> $443,268.00) . <br /> Due to the amount of reclamation liability, it may be advantageous to have <br /> more than one reclamation bond posted for Permit M-80-244. I would suggest <br /> that a inancial Warranty/Letter of Credit form be executed in support of <br /> Letter of Credit No. S800189 in the amount of $8,493,000.00 on behalf of <br /> Permit No. M-80-244. Attached is a Financial Warranty form for the permittee <br /> to sign and have notarized as indicated on Page S. Also, i be <br /> advisable to have Norwest Bank of Denver recognize the Permit Number change by <br /> sending our Division an Amendment to Lette dit No. S800189 stating, "We <br /> hereby acknowledge the change in Permit Number from M-77-367 to M-80-244. All <br /> other conditions remain the same. " <br /> St. Paul Ins . Bond No. 400GZ9592 should be increased from $90,000.00 to <br /> $533,268.00, or whatever your current reclamation cost estimate is for the <br /> Carlton Project, Permit No. M-80-244. Upon receipt of this increase Rider, <br /> the Division can release all other St. Paul Bonds held under Permits M-77-367, <br /> M-81-134, M-86-024, M-88-095, M-88-097 , M-88-098, M-90-109, and M-91-114 to <br /> the permittee. The Division would then retain 3 bonds: one Corporate Surety <br /> and two Letters of Credit totalling the reclamation liability. <br /> If you wish to discuss this issue further, please let me know. <br /> /dlm <br /> Enclosure(s) <br /> cc: Carl Mount, DMG <br /> Bruce Humphries , DMG <br />