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<br />d. Effective Auqust 4, 1982, the amount o! the <br />Seaboard Bond vas decreased to 52,700,000. Objection and <br />Complaint q 31d; I-nswer q 7. <br />e. Pursuant to the Seaboard Sond, Seaboard bound <br />itself, jointly and severally, with CFiI to the Onited States, <br />for the use and benefit of employees o! CFiI, Sor payment o!' up <br />to 54,774,000 in connection with Black Lung Benefits which <br />attached to or were accrued by CFiI under the 1969 Aet in o2' for <br />the period during which the Seaboard Bond was in force. <br />Objection and Complaint q 33e; Answer q 7. <br />f. The Seaboard Bond provides that in the event CFiI <br />defaults in payment of such Black Lunq Benelite, whether du~a to <br />bankruptcy, insolvency, or whatever cause or reason, Seaboa:d <br />shall, upon written demand by the Secretary, pay such sums as are <br />necessary to discharge or secure all or any of the obligations <br />described in the Seaboard Bond. Objection and Complaint q :11!'; <br />Answer q 7. <br />q. Seaboard canceled the Seaboard Bond effective <br />May 18, 1983. Objection and Complaint q 33q; l-nswer q 7. <br />17. The DOL has not made a demand, either orally or in <br />writing, on Seaboard for payment under tba terms of the Seabaird <br />Bond. Objection and Complaint q 48; 1-nswer 13. <br />]lmerican Bond <br />18. After the Cancellation of the Seaboard Sond, CFiI. <br />qualified as a self-insured operator by obtaining a bond, Etond <br />No. 2584606, (the •American Bond°) in the amount of 52,700,COD <br />8 <br /> <br /> <br />