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<br />EXHIBIT L <br /> <br />THE FORT LYON CANAL COMPANY <br />RECLAMATION PERMIT APPLICATION <br />RECLAMATION COSTS <br />Applicant maintains a large canal system and owns and operates heavy machinery <br />including front-end Loaders, trucks, scrapers and other heavy equipment. Much of the <br />reclamation will be conducted by Applicant. Certain portions of the reclamation may be <br />contracted out to third parties such as seeding. The Bent County NRCS office will be <br />consulted for this reclamationprocedure. Applicant is anon-profit corporation which has been <br />in existence for over 100 years, and reclamation activities will be ongoing. Applicant would <br />submit that a reasonable amount for the reclamation bond would be $25,000 with a certificate <br />of deposit in a local bank. <br />