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SETTLEMENT AGREEMENT <br />This Settlement Agreement is entered into this ~ of June, 1999 by and between <br />Board of County Commissioners of Pitkin County, Colorado, Plaintiff and Third Party <br />Defendant ("Pitkin County") and Thomas Cazl Oken, Pitkin County Treasurer, Plaintiff; Mid- <br />Continent Resources, Inc., a Delawaze corporation ("MCR") and Louis M. LaGiglia, Creditors' <br />Trustee under Bankruptcy Plan of Liquidation ("Trustee"), Defendants and Third-Party <br />Plaintiffs, MidCon Realty, LLC, a Delawaze limited liability company {"MidCon"}, Third-Party <br />Plaintiff and State of Colorado, Department of Natural Resources, Division of Minerals and <br />Geology, Third-Party Defendant ("DMG"). <br />RECITALS: <br />A. From the 1950s until 1991, MCR conducted coal mining operations in Coal <br />Basin. The coal mining took place primarily in Pitkin County, but also involved land in <br />Gunnison County and Garfield County, Colorado. <br />B. In 1492, MCR filed bankruptcy in U.S. Bankruptcy Court in Colorado. MCR's <br />Second Amended Plan of Liquidation was approved by the Bankruptcy Court on April 11, 1994. <br />C. The Liquidation Plan called for funding of reclamation of Coal Basin through <br />liquidation of MCR's property in Coal Basin. DMG appeazed in MCR's bankruptcy case and <br />filed a proof of claim for reclamation costs. _ <br />D. MCR began reclamation operations in Coal Basin in 1991 and continued <br />reclamation in 1992 and 1993. In 1994, DMG took over reclamation operations and has <br />continued to perform reclamation since that time. <br />£. The Parties to this Settlement Agreement aze parties to a lawsuit in District Court <br />Pitkin County, Colorado, Case No. 97-CV-131-1 ("Lawsuit"). <br />.. <br />';ii. <br />~v>'~"H. <br />