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Mr. Frank R. Johnson <br />August 3, 1993 <br />Page - 2 <br />following permit revocation." <br />"8. MCR shall maintain and reclaim the site pursuant to <br />the provisions of the permit; the provisions of the <br />Colorado Surface Coal Mining Reclamation Act, 34 -33 -101 <br />to 137, C.R.S. (1984 & 1991 Supp.); and the Regulations <br />of the Colorado Mined Land Reclamation Board for Coal <br />Mining, 2 CCR. 407 -2. Furthermore, MCR shall comply with <br />all orders and abatement orders previously entered. MCR <br />shall also ensure that the salvage operations are <br />conducted in compliance with such statutory, regulatory, <br />and permit requirements." <br />The statute (34 -33 -124, C.R.S.) provides, inter alia: <br />"If the board suspends or revokes the permit, the <br />permittee shall immediately cease those surface coal <br />mining operations on the permit area as specified by the <br />board and shall complete reclamation within a period <br />specified by the board, or the board shall declare the <br />performance bonds for the operation as forfeited. <br />Proceeds of forfeited bonds shall be available to the <br />office and shall be used by the office for reclamation of <br />the area covered by the bond." (Emphasis supplied) <br />Payment to the State of Rock Dust Plant proceeds and <br />allocated reclamation proceeds is the equivalent of proceeds <br />derived from "forfeited bonds ". <br />As I explained to you, as confirmed by a meeting of our <br />Board of Directors, MCR would not be willing to accept or continue <br />the responsibility for reclamation with the State having custody <br />and control of the funds. <br />In other words, it appears that if the State is to take <br />the funds, then the State should accept the responsibility for <br />reclamation and MCR should be released from further responsibility <br />for performance of the reclamation. <br />MCR, or the successor trustee, of course, will have a <br />substantial interest in seeing the property reclaimed in the manner <br />that will facilitate sale to the best advantage. <br />MCR also has a responsibility for monitoring the M &E /King <br />contract for salvage operations. <br />