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<br />~i <br /> <br />A. J. Waldron -2- January 31, 1996 <br />6. Enclosed is a new comb bound document which presents the <br />facility salvage costs, facility pictures and item <br />descriptions. The pictures document the facility condition. <br />The facility salvage summary presents the removal cost and <br />liquidation value of each facility based on bids received from <br />three independent contractors. The concrete demolition and <br />disposal bids are also included in this document. Enclosed is <br />a copy of the new UCC lien search along with attorney John E. <br />Burrus' opinion regarding the filed liens. The Senstar <br />Capital Corp.'s liens are applicable to an underground miner <br />and therefore should not impact the facilities salvage <br />agreement. <br />7. The Division's reclamation cost item lla presents the <br />structural demolition work applicable to salvage value. Based <br />upon the updated salvage estimates obtained by Bear, this item <br />should total $42,720 compared to the Division's 45,325 which <br />is a reduction of $2,605. The Division's reclamation cost <br />item 11 includes $6,400 for demolition of the reclaim tunnel. <br />The reclaim tunnel demolition is included in the salvage <br />estimates so it should be removed from item 11. Bear requests <br />the $4,093 bond allowance for the screening plant be deleted <br />from the reclamation bond estimate. The screening plant has <br />not been constructed and may not be. <br />Bear proposes to construct an equipment wash slab on the <br />northeast corner of the shop. The wash pad will be a 6-inch <br />thick reinforced concrete slab which measures approximately <br />26' X 30'. The average concrete demolition and disposal bids <br />mentioned above, price the shop floor demolition at $0.79 per <br />square foot. Applying this square foot demolition cost to the <br />new wash slab yields an estimated reclamation cost of $616.00. <br />The total revision to the bond amount, based on the above <br />changes, is <$12,482> (-$2,605 - $6,400 - $4,093 + $616). <br />With burden, (23.768), the reduction is approximately $15,448. <br />This will offset most of the Division's proposed bond increase <br />of $18,539. The net bond increase should be about $3,091. <br />Please call if you have any questions. <br />Sincerely, <br />1.C~1 4•-_ <br />Jim Stover, P.E. <br />Consulting Engineer <br />cc: Basil Bear <br />