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Section III— Reclamation Liability <br /> At the time of Permit Renewal 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 21881250934, now serviced by PNC Bank. In addition, the i tter of credit, <br /> number 36-094, 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 Div roved 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)(j)). 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 /> 1. 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 2.05-5Ra in the section "Other Structures." <br /> 4 <br />