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`~ 6. The DiviT on and Rockcastle agree th~ studies submitted by <br />Rockcastle to the Division pursuant to 5s II, III and IV of this Agreement shall <br />• be reviewed by the Division within twenty days of receipt by the Division. <br />/ V. BOND RELEASE PROCEDURES AND AMOUNTS -- Rockcastle and the Division agree <br />that Rockcastle will request a prospective bond release and bond reduction of <br />5522,000 for all backfilled and graded areas and for all site reclamation <br />activities, including reseeding and additional required reclamation activities <br />to be completed at the Site under this Agreement and reclamation work previously <br />conducted at the Site, in accordance with Rules 3.03 and 4.15. <br />~I. The Division will follow the procedures of 2 CCR 407-2 Rule 3.03.2 <br />for release of Rockcastle's performance bond pursuant to 4§ V(2)-V(5) hereof on <br />a monthly basis, following site inspection and/or review of records describing <br />completed reclamation activities which may be submitted by Rockcastle: <br />2. The amount of any bond release will be based upon the decrease in <br />volume of Pit 4 and any other reduction in bond liability as set forth in this <br />Agreement; except that the Division may condition the final increment of bond <br />release upon the performance of work required pursuant to the terms of 4 IV(I). <br />The Division shall release 50.83 for each bank cubic yard of volume reduction <br />of Pit 4 resulting from placement of overburden or topsoil material in Pit 4 <br />pursuant to the provisions of 5 V(I). The figure of E0.83 per bank cubic yard <br />was calculated as follows: <br />-8- <br /> <br />