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07/11/2005 08:06 FAX <br />IM 004 <br />Henderson Mine and Mills incidental rights and the Skyline waxer rights were reasonable. <br />Allen Sorenson, Environmental Specialist for the Division, concluded that the value of the <br />Williams Fork pump station was at least equivalent to the value reported in the appraisal <br />prepared by Wheeler and Associates. <br />6. Ms. Satterfield reached the independent conclusion that the Operator presented reasonable <br />evidence of ownership of the properties described in the Deeds (if Trust. Ms. Satterfield <br />also opined that the offered properties could be pledged as securities under Colorado law but <br />that such interests should be perfected through recordation in the real property records of <br />Brand County, Colorado. <br />7. The Board has jurisdiction over this matter pursuant to Section 34 -32- 105(4) of the <br />Colorado Mined Land Reclamation Act, Section 34-32 -101 et saq. C.R.S. (2004). <br />8. Based upon the recommendation of the Division, and the conclusions of the independent <br />analysts concerning the value of and title to the properties, it is +appropriate for the Board to <br />accept the offered Deeds of Trust and, in reliance thereon, to credit $8,596,169.00 toward <br />the Operator's remaining reclamation bond obligation. It is appropriate to accept the Deeds <br />of Trust subject to two conditions recommended by the Division, which are set forth in full <br />below. <br />ORDER <br />Based on the foregoing findings of fact and conclusions of law, the Board hereby <br />accepts the Operator's Deeds of Trust to the Henderson Mine and Mill's incidental rights, the <br />Skylark water rights and the Williams Fork pump station, as set forth in attached Exhibits A. B <br />and C. A total. of $8,596,169.00 secured by the Deeds of Trust shall be credited toward the <br />Operator's reclamation bond, subject to the following two eonditioas'. <br />