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(� PETER C.LIEN,18WI90 <br /> D 1 CHARLES H.LIEN,PRESIDENT <br /> BRUCE H.LIEN,CHAIRMAN Of THE BOARD <br /> SECRETARY-TREASURER <br /> EDVAN L.HUBBELING,SENIOR VICE PRESIDENT <br /> ' - ROBERT J.SCHURGER,EXEC.VICE PRESIDENT-MANAGER <br /> CRUSHED STONE • HYDRATED LIME • QUICK LIME • ROCK PRODUCTS <br /> LKJOffice&Plant located at Interstate 90&Deadwood Avenue <br /> BOX 440 <br /> RAPID CITY, SOUTH DAKOTA 57709 <br /> TELEPHONE: AC 605/342-7224 <br /> & Sons, Inc. <br /> December 15, 1992 <br /> Mr. Robert Delaney <br /> Mid-Continent Resources, Inc. <br /> Executive Vice President and <br /> General Counsel <br /> P.O. Drawer 790 <br /> 818 Colorado Avenue <br /> Glenwood Springs, Colorado 81602 <br /> Dear Robert, <br /> I would like to submit a formal bid to Mid-Continent <br /> Resources, Inc. <br /> Pete Lien and Sons is willing to pay $310,000.00 for the <br /> • equipment in the Rock Dust Plant and the Magnetite Plant. We <br /> are interested in the fixed equipment only. This bid <br /> excludes land, buildings, and rolling stock. <br /> The terms are cash at closing. We will schedule removal <br /> of the equipment as soon as is practical. This offer is <br /> subject to Pete Lien and Sons Board approval. <br /> Please let me know if this offer is acceptable or if you <br /> have any questions. <br /> Thank you for your hospitality and cooperation. The <br /> multiple tours given by you and your son were very helpful. <br /> I appreciate it very much. <br /> Sincerely, <br /> Pete Lien <br /> Chief Operating Officer <br /> PL:pml <br /> a.....9— <br /> •uca. <br /> wean.cw...gi.,....d..., <br />