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HUU—LO 7C r,MI I1 UO rIMMIY & MODUU, Ur-McR rnn 11U uujuuclrruu vc <br /> James B. Holden, Esq. <br /> August 28, 1992 <br /> Page 2 <br /> we can still negotiate modification of the Contract covering the <br /> timing of removal of the structures at portals 1 through 5 and the <br /> consideration to my clients for changing the otherwise 5-years to <br /> do so. <br /> We believe the Creditors, Committee's position of now trying to <br /> change the Contract, (which they approved in Court and which the <br /> Court approved by Order of August 13) , is untenable, and their <br /> effort to hold up the sale is unconscionable. <br /> Hazardous Material, (including soluble oils) , is being removed from <br /> underground by M&E/King at the request of Mr. Reeves of Mid- <br /> Continent, on the promise of a Change Order which will authorize <br /> compensation therefore. Additional work not contemplated by the <br /> Contract, though of critical importance to the MLRD has already <br /> been stopped as of today as a result of the Objection and Motion <br /> filed by the Creditors ' Committee. <br /> If my client halts work on next Monday, (because of the breach of <br /> the Contract due to the halt of the sale, which would have begun <br /> repayment of the $300,000 advance, (previously approved by the <br /> Court] ) , the power will be shut off, the mine will flood and all <br /> will loose when the oil enters the drainage aquifer and a <br /> substantial part of the saleable machinery is lost. <br /> Please note I am sending a copy of this fax to Steve Seifert and <br /> the MLRD, (since I have no new fax number for their A.G. , Steve <br /> Smith) . <br /> Very ly you <br /> arry Arkin <br /> HLA:ks <br /> C: Stephen Seifert, Esq. via fax (830-1033) <br /> Mr. Steve Renner, MLRD via fax (832-8106) <br /> Mr. Michael R. Ebert via fax [ (415) 467-2639) <br /> KF32795.HLA <br />