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ection III- Reclamation Liability <br />At the time of Permit Renewa] No. 3, the Division had approved, and was holding, two bond <br />documents totaling $246,755.00. One document was a certificate of deposit, number 527845, from the <br />Citizens Fidelity Bank and Trust in the amount of $96,550.95. The second document was an <br />irrevocable letter of credit, number SM-42636-094, from NationsBank of Florida for $150,204.05. The <br />reclamation bond estimate at that time was $237,526.00. Therefore, the Division held enough bond to <br />complete all reclamation tasks at the Terror Creek Loadout. <br />In the last half of 1999, the certificate of deposit number 527845 was rolled forward to certificate of <br />deposit number 2 1 8 8 1 250934, now serviced by PNC Bank. In addition, the irrevocable letter of credit, <br />number SM-42636-094, was renumbered as number 42636 when Nationsbank was renamed to Bank of <br />America. <br />In January of 2000, the Division approved a replacement bond in the form of a corporate surety for <br />$246,755.00, serviced by Frontier Insurance Company. In July of 2000, the Division requested that the <br />permittee submit a substitute bond, since the Frontier Insurance Company no longer had a certificate of <br />authority from the U.S. Treasury. On October 5, 2000, the Division approved the new corporate surety, <br />number 22-49-58 from Granite State Insurance Company for the amount of $246,755.00. <br />The reclamation bond has been reviewed pursuant to Rule 3.02.2(4) to determine whether the above <br />total bond amount reflects the Division's projection of reclamation costs for worst-case disturbance that <br />will occur during the proposed permit term (2.07.6.(2)Q)). The Division's estimate of the cost of the <br />reclamation liability at the Terror Creek Loadout is $234,485.00. This is $3,041.00 less than the <br />previous estimate of $246,755.00 that had been calculated during the review of Permit Renewal No. 3. <br />The main reason for the decrease was a 35 percent decrease in demolition costs. Earthmoving costs <br />have increased 15 to 25 percent, but that was not enough to offset the demolition cost decrease. <br />Therefore, the Division holds sufficient bond to complete the reclamation tasks at the Terror Creek <br />Loadout. <br />Section IV - Adequacy Review <br />The following are the Division's questions and comments for this midterm review: <br />Please update Section 2.03.4, Identification of Interests, if applicable. The updates would <br />include corporate ownership and control information as well as surface and subsurface <br />ownership information. Also, please update Map 1, Surface Ownership, if applicable. <br />2. Please update the compliance information in Section 2.03.5, if applicable. <br />3. Please update Section 2.05.3, Operation Plan, to show that the referenced construction work <br />has been done, rather than will be done. This would include the construction activities that are <br />described in subsection "Ponds, Impoundments and Diversions" on pages 2.05-3 and 2.05-4R, <br />initial topsoil salvaging on page 2.05-4R in subsection "Topsoil" and the gravel access road <br />yard area work on page 2.05-SRa in the section "Other Structures." <br />4 <br />