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Greg E. Walther, Executive Director <br />Robert W. Cattany, Division Director <br />June 12, 2003 <br />Page two <br />adjusted by the Buyer within a 10% tolerance. The mining plan shall be <br />designated by Buyer considering and balancing the following matters: <br />Enhancing the value of the non-mined property; <br />Integrating with the development plans for the purpose of maximizing the value <br />of the property for sale as a comprehensive subdivision with all infrastructure <br />installed; and <br />Maximizing the recovery of sand and gravel and considering the most economical <br />procedures. <br />Buyer shall obtain the written approval of such mining plan from the Seller, <br />which approvals Seller shall not unreasonably withheld. Seller's approval or <br />disapproval of the mining plan shall be based on the criterion set forth above and <br />once approved, Seller shall not further change the mining_plan." (Emphasis <br />added) <br />The Development and Option Agreement by Section 1.02 also provides: <br />"1.02 Development Plan. The Buyer, at Buyer's cost, shall propose a <br />comprehensive development plan for the property, developing the property into <br />residential and commercial land to be developed in parcels as shown on Exhibit B <br />and integrating the mining plan shown in paragraph 1.01 above (the "development <br />plan"). Buyer shall obtain written approval of such development plan from the <br />Seller, which Seller shall not unreasonably withhold...." <br />3. BLC Development, LLC has not approved of any amendment to the mining plan. <br />The only approval was of the mining plan under the original permit issued in 1998. BLC <br />Development, LLC has not or approved or consented to the expansion of mine acreage, has not <br />approved or consented to the oil and gas well site contained in the amended mining plan, has not <br />approved of the revised development plans with the Town of Firestone, including the amended <br />special use permit for mining operations and does not approve of any revisions. <br />4. Orr/Hall, LLC or Hall-Irwin Corporation had no right or authority to revise the <br />mining plans without the approval and consent of BLC Development, LLC under the specific <br />terms of the Development and Option Agreement. A review of the permit and revision files of <br />the Division of Minerals and Geology reveals that Hall-Irwin Corporation failed to notify the <br />Division of Minerals and Geology of the approval and consent requirements of the Development <br />and Option Agreement. <br />