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<br />?. J <br />April 5, 2010 <br />Michael Cunningham <br />Division of Reclamation, Mining and Safety <br />1313 Sherman St., Room 215 <br />Denver, CO 80203 <br />Re: Arkins Park Quarry, Permit # M-1985-212 <br />Dear Michael: <br />This letter is in reference to your recent inspection and subsequent report wherein you proposed <br />an increase in the financial warranty held on the above permit. In your February 1, 2010 letter, <br />you estimated the cost to reclaim the site to be $156,245.00, an increase of $106,245.00. You <br />gave us until April 4, 2010 to meet this increased financial responsibility. Essentially we were <br />given one month to conduct reclamation, review and challenge your calculations or come up <br />with the additional $106,245.00. For the foregoing reasons, we respectfully request a ninety day <br />extension in which to meet this increased financial burden and/or conduct reclamation. <br />First, understand that we recently met with Wells Fargo Bank in an attempt to find a new bank <br />with which to do business. First National Bank, who we presently bank with, recently reduced <br />our line of credit. The line of credit is where we maintain our letters of credit for the reclamation <br />as well as draw from in the slow winter months when sales are down. Wells Fargo is the fourth <br />bank we have met with in the last several months in an attempt to move our business. Three <br />have declined our business. Despite the politicians' efforts, banks simply are not interested in <br />small businesses such as ours and consequently we have had to cut expenses, lay people off, <br />decrease the work week and literally suffer through the winter. It does not appear that anything <br />positive will happen in this regard in the next several weeks. <br />Second, you are proposing a 312% increase from the original amount. Coming off of a slow <br />winter of sales with our limited line of credit, we would like the opportunity to either raise the <br />additional monies or conduct reclamation. One month is simply insufficient given this amount <br />of increase. <br />At the same time you were inspecting the Arkins Park quarry you also inspected the Sprague- <br />Buff quarry. Subsequent to your inspection and proposed increase in financial warranty, we <br />spent about 3 '/z weeks reclaiming the Sprague-Buff quarry. Also, during your inspection, you <br />discovered Diffuse knapweed on the property. You :required us to prepare and submit a technical <br />revision, which we did. You further suggested that the knapweed be removed immediately, <br />which we also did. In the month of February we pulled four employees from production and had <br />them work on State mandated projects. Quite frankly I would appreciate some understanding on <br />,L// & /o%o <br />Arkins Park Stone Corp. <br />5975 N. County Road 27 <br />Loveland, Colorado 80538 <br />www.arkinsparkstone.com <br />(970) 663-1920 <br />FAX (970) 663.2315 <br />9-k- 0 <br />lL ? .? <br />APR 0o20??? <br />Division of Reclamation, <br />-A) Mining & Safbbf