1993-05-17_GENERAL DOCUMENTS - C1981017 (2)

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Plan Outline May 17 , 1993 Page 2 shall not be sold without the express written consent of the MLRB. The Environmental Trust shall be used, to the extent of the available funds, to pay the costs of environmental remediation which lies outside the express terms of the reclamation plan, including removal of asbestos and PCB's, removal of underground storage tanks, and monitoring and treatment of water discharging from the mine. Any funds remaining in the Environmental Trust after completion of such environmental remediation shall be paid into the Reclamation Trust. The Reclamation Trust shall be used, to the extent of the available funds, to pay the costs of implementing Resources ' approved reclamation plan. Any funds remaining in the Reclamation after completion of the reclamation plan shall be paid into the Creditors ' Trust. Creditors' Trust. The Creditors ' Trust will be administered by a Plan Trustee appointed pursuant to Section 1123 (a) (7 ) . The Plan Trustee will be jointly selected by Sanwa and the Committee, except that in the event of an impasse the Court will make the selection from among the candidates urged by Sanwa and the Committee. Sanwa and the Committee will consult with Resources about the selection of the Plan Trustee. The Creditors ' Trust and the activities of the Plan Trustee will be supervised by two representatives, one designated by Sanwa and one by the Committee (the "Creditor Representatives" ) . Except for the rockdust plant and associated assets which are to be transferred to the Reclamation Trust, all real and personal property of Resources shall be transferred to the �. Creditors ' Trust free and clear of liens and creditors ' claims, except for the statutory lien of real property taxes (see "Classification of Claims and Treatment of Claims -- Class One: Property Taxes, " below) . The property held by the Creditors ' Trust may be sold by the Plan Trustee without further Court order but shall not be sold without the express written consent of the Creditor Representatives. In the event that one but not both of the Creditor Representatives consents to a proposed sale, the sale is subject to Court approval in the manner provided for sales under the Bankruptcy Code. In the case of equipment sales, sales will go forward on the terms provided under the contract with M&E Equipment, Inc. , that is, sales may occur without approval from the Plan Trustee, the Creditor Representatives, or the Court, provided that the sales price is at or above the minimum prices set forth on the confidential price list.