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1993-07-02_GENERAL DOCUMENTS - C1981017 (2)
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1993-07-02_GENERAL DOCUMENTS - C1981017 (2)
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Last modified
1/28/2021 11:10:35 AM
Creation date
5/1/2012 9:37:40 AM
Metadata
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Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
7/2/1993
Doc Name
Case No 92 11658 Debtors Plan of Liquidation
Permit Index Doc Type
General Correspondence
Media Type
D
Archive
No
Tags
DRMS Re-OCR
Description:
Signifies Re-OCR Process Performed
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to any other distributions except property taxes, which <br /> may be paid in the Trustee's discretion. <br /> 6 .2 . 10 Limit on Reclamation and Environmental <br /> Obligations . Other than the requirements imposed by <br /> Sections 6 .2 . 8 and 6. 2 . 9 of the Plan, neither the <br /> Trustee nor the Creditors ' Trust shall have any <br /> obligation with respect to reclamation or environmental <br /> cleanup of the Mine Site. <br /> 6 .2 . 11 Distributions to Sanwa and Class 9. After <br /> completing all distributions to the Reclamation Account <br /> and the Environmental Trust required under the Plan, <br /> the Trustee shall, from time to time, distribute all <br /> available Net Proceeds remaining to Sanwa and Class 9, <br /> with Sanwa to receive 77% of each dollar so <br /> distributed, and Class 9 to receive 23% of each dollar <br /> so distributed. Funds distributed to Class 9 shall be <br /> distributed Pro Rata to the Allowed Claims in the <br /> class. <br /> 6.3 Reclamation Account. The Reclamation Account <br /> shall be established on the Effective Date in accordance with the <br /> following terms and provisions: <br /> 6. 3. 1 Purpose of Reclamation Account. The Reclamation <br /> Account shall be used exclusively for paying costs and <br /> expenses of the Reclamation Plan. <br /> 6. 3.2 Property Transferred into Reclamation Account. <br /> The following property shall be transferred into the <br /> Reclamation Account: (i) the Rockdust Plant; <br /> -44ar-bl-e� a quarry;- -(iri r the Mid--Continent Quarry; and <br /> (iv) $1,500,000 from the Creditors ' Trust. <br /> 6 . 3 .3 Custody of Property in Reclamation Account. All <br /> property and funds in the Reclamation Account shall be <br /> deemed a forfeited bond within the meaning of C.R.S. S <br /> 34-33-124 (4 ) . Funds shall be held in the custody of <br /> the MLRB and shall be available only to the DMG and its <br /> contractors for reclamation of the area covered by the <br /> bond. <br /> 6. 3 .4 Property Taxes. Property transferred to the <br /> Reclamation Account shall be subject to real and <br /> personal property taxes to the extent required by <br /> applicable law, and such taxes shall paid at the time <br /> of sale of the property, as a cost of sale, or at such <br /> -12- <br />
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