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BURNS, FIGA & WILL, P.C. <br /> Cheryl Linden <br /> June 9, 1995 <br /> Page 3 <br /> "Reclamation" shall include service related to performance of the Debtor's reclamation <br /> plan, including portal sealing; repair work on existing ditches, culverts, and roads; <br /> building or site maintenance required by reclamation regulatory authorities; conversion <br /> of the Debtor's train load out facility to a post-mining warehouse; and maintenance of <br /> equipment necessitated by use of such equipment for reclamation. <br /> All funds paid to Pitkin Iron for "reclamation" under the Third Motion shall be <br /> credited against the Reclamation Account under the Plan. <br /> "Environmental remediation"shall include services related to storage or removal <br /> of PCBs, underground tanks, asbestos, oil contaminated soil, chemicals, and the <br /> like; construction of new ditches or culverts required for site maintenance or <br /> safety, as opposed to final reclamation;maintenance of equipment necessitated by <br /> use of such equipment for the purposes set forth above;site inspections and water <br /> sampling;accompanying inspectors from the regulatory agencies;and maintaining <br /> paperwork required by the agencies. <br /> All funds paid to Pitkin Iron for "environmental remediation" under the Third <br /> Motion shall be credited against the Environmental Account under the Plan. <br /> The bulk of work from September through mid-November, date of the Order, was <br /> reclamation, pond cleaning and abatement work ordered by the DMG. That fits within the <br /> categories approved in the Second Motion; after November, the bulk of work related to the <br /> flume project, which fits within the categories approved by the Third Cash Collateral Motion. <br /> The work Pitkin Iron did was necessary to asset sales and to compliance with DMG <br /> orders. On those grounds, it would qualify as an Administrative Claim, which was definitely <br /> recognized in the bankruptcy liquidation plan which was subsequently approved. <br /> The Disclosure Statement filed February 8, 1994, by MCR, to explain the liquidation <br /> plan, discussed Pitkin Iron's role and relationship and specifically noted Pitkin Iron's claim. <br /> The plan itself specifically notes, at Section 4.7, the "Allowed Claim of Pitkin Iron entitled to <br /> administrative priority pursuant to Section 503 of the Code." <br /> MCR DISCLOSURE STATEMENT <br /> 10.-- Pitkin Iron Corporation <br /> Class 10 consist of the allowed claims of Pitkin Iron arising before the filing of <br /> the Debtor's bankruptcy case . . . This provision does not affect any claims of <br /> Pitkin Iron arising from services performed after the filing of the Debtor's <br /> bankruptcy petition . . . For a description of such services, see Section I.C, <br />