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V. BONDING <br />The reclamation cost estimate has been reviewed and revised to <br />reflect current equipment costs and miscellaneous minor updates. <br />The total estimated cost of reclamation is $37,181.00, which is <br />less than the bond amount currently held by the Division. The bond <br />instrument held is a $74,000.00 automatically renewable certificate <br />of deposit (CD No. 11120) issued by the Bank of Colorado, of Grand <br />Junction, payable to the Colorado Mined Land Reclamation Board and <br />the Office of Surface Mining Reclamation and Enforcement. The <br />current bond replaced a previous CD issued by the Colorado National <br />Bank of Grand Junction, and was approved and accepted by the <br />Division June 26, 1995. <br />The bond amount ($74,000.00) is 40~ of the original bond amount <br />applicable to the permit area, and reflects the Phase I bond <br />release approved by the Division on August 25, 1989, based on <br />successful completion of facilities removal, refuse cover <br />placement, portal sealing, drainage channel construction, and <br />backfilling and grading. The major portion of the reclamation was <br />completed in the fall of 1988. Since that time an effective cover <br />of seeded shrubs and grasses has become established on the <br />reclaimed area. Remaining reclamation which will need to be <br />completed prior to final bond release includes removal of the <br />sediment pond and associated collection ditches, the lower segment <br />of the permanent channel (through the current sediment pond <br />location), a remaining segment of the access road adjacent to the <br />sediment pond, and a number of monitoring wells. The current bond <br />amount is more than adequate to complete the remaining reclamation. <br />12 <br />