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<br />February 9, 1996 <br />• III IIIII~~IIIIII III <br />LIST OF FINANCIAL WARRANTIES FOR USE WITH DEED OF TRUST <br />FOR <br />COOLEY GRAVEL COMPANY <br />M-73-002 Thornton Pit Adams $ 270,568.00 <br />M-73-021 Morrison Quarry Jefferson $1 ,302,554.00 <br />M-83-024 Cherokee Ranch Pit Douglas $ 181,300.00 <br />M-86-146 Sprat-Platte Ranch Pit Adams $ 52,930.00 <br />M-89-066 South Dahlia Pit Adams $ 212,105.00 <br />M-94-027 Longmont Operation Weld $ 5,000.00 <br />M-94-093 Dahlia North Resources Adams S 744,000.00 <br /> <br />TOTAL WARRANTY FOR EXISTING PERMITS $2 ,768,457.00 <br />TOTAL DEED OF TRUST $4,082,000.00 <br />TOTAL UNDE R WARRANTY $2,768,457.00 <br />EXCESS CAPACITY $1,313,543.00 <br />TOTAL INTERIM WARRANTY TO BE POSTED: $408,200.00 <br />DUE DATE: FEBRUARY 12, 1996 <br />Note: The financial warranty for M-94-027, Longmont Operation, <br />will increase to $1,554,295.00 when operations are scheduled to <br />commence - thus bringing the total under warranty up to <br />$4,317,752.00. At that time, the current financial warranty <br />required will exceed the currently posted bond by $235,000.00. <br />Unless some of the sites have been released from reclamation <br />responsibility at that time, or the bond for the Longmont Operation <br />is re-evaluated and decreased, more bond will have to be posted to <br />cover the reclamation costs for all of Cooley Gravel's operations. <br />It is stipulated in the permit for M-94-027 that DMG will receive <br />30 days notice before operations commence at the Longmont site, in <br />order for our office to have enough lead time to re-examine the <br />bond on the site, or the full amount must be posted before <br />operations start. <br />