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h <br />6. The maintenance of a valid CMLRB mining permit and all <br />other Federal, Sterte and local authorizations to operate is <br />requited for the ].awful operation of the Property and is <br />essential to maintain the value of the Property. The solution of <br />regulatory issues caused by Glass and the maintenance of <br />compliance at the site requites specialized knowledge and <br />experience not possessed by the University National Bank. <br />7. The transfer of the permits to the Receiver is necessary <br />to regain and maintain the validity of such permits and to avoid <br />further violations and the associated liabilities of Glass and <br />claims against sureties and the property. <br />8. 7'he proposed Receiver, Quest Consulting inc., is fully <br />qualified in the management of gravel mining operations and has <br />particular experience in the management of the regulatory affairs <br />pertinent to the gravel mining industry. <br />ACCORD] NGLY , I1' 1 S Hh'RN:BY ORDERED, <br />a) That the resignation of University National Bank as <br />keceiver for the Property and its report in such <br />capacity is accepted. <br />b) That University National Bank is released Ltom all <br />further liability in its capacity as Receiver and its <br />bond of $60,000.00 previously filed with the Court, <br />along with the liability and obligations pertinent <br />lh:•rrto is hereby released. <br />~c) Th•it Quc:,t Consulting tnc.. is appointed as successor <br />Receiver of the property. <br />d) Upon the taking of the Oath of Receiver herein and <br />posting a substitute bond in the amount of b60,000.00, <br />Quest Consulting Inc., Receiver, is directed and <br />empowered to take possession of and to collect the <br />rents, income, and profits of the Property and to apply <br />the incorue as follows: <br />(1) First, to the payment of the costs and expenses of <br />receivership, including but not limited to, <br />payment of such costs as may be necessary to bring <br />operal.iun:: tiite Cumplianr.c wif.h Y.he applicable <br />pr • i m i t . <br />(2) Second, to the payment of insurance premiums and <br />the necessary costF and expanse, of mainl.anance, <br />operation, and repair of the said teal property <br />and improvements; <br />(3) Third, to the payment of tax assessments and prior <br />encumbrances, if any; and, <br />-2- <br />