1994-04-05_GENERAL DOCUMENTS - C1981017

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{► \ HOLDEN & JESSOP, P.C. ATTOYN[YS'Al'LAW -r� a03 EAST 12101 AVENUE, SUITE 930 oENVER, COLORADO 930903-IE64 (3031 l60-f100 FACSIMILE: (109)440-72s1 April 41 1994 VIA FACSIMILR Cheryl A. Linden Assistant Attorney General 1525 Sherman Street, 5th Floor Denver, Colorado 80203 DeAnn Owen Office of the Field Solicitor P-O. Box 25007 D-105 Denver, Colorado 80225 Stephen W. Seifert Fairfield and Woods, P.C. 1700 Lincoln Street, suite 2400 Denver, Colorado 80203 Re: Mid-Continent Resources, Inc. ("Resources") ; sale of rockdust plant Dear Cheryl, DeAnn and Steve: On March 23, I wrote Me. Linden, with a copy to Ms. Owen, describing the possibility that a competing purchaser for the Rockdust Plant would come forward during the objection period for the pending sale motion. The objection period expires today. To recap, the current sale motion proposes a sale of the real estate (exclusive of structures and equipment) to Dale Eubank for $147,600. A competing offer of $200,000 had been submitted by Mid-Valley Design/Business Center ("Mid-Valley" ) , which Resources rejected because it was conditioned on approval by Garfield County of the purchaser's development plans for the site. Mid-Valley is interested in buying both the 17 acre Rockdust Plant parcel and the adjoining 140 acre Train Loadout Facility, rezoning the parcels for industrial and commercial uses and subdividing the parcels (Eubank, like Mid-Valley, is interested in purchasing the adjoining Train Loadout Facility; he is willing to close the present sale without development contingencies) . Resources concluded that Mid-Valley's plans would take a minimum of four months, and perhaps longer, and would present a risk that the sale would not close at all. 71•A '8 W3010H WdSE_60 b6, b0 88H