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and �a�� <br /> �OII?tdCG6 ` fiat, 2800, �lxcoLir �oeutex <br /> f660 goals fGrteC <br /> February 2 , 1993exu,x, Foratla 80264 <br /> " ( (803> 80-8400 <br /> �il,co�Fie:: (10J) =-4908 <br /> �elirc: 9f025012f8 HLA JD UQ <br /> James B. Holden, Esq. ff� VIA MESSENGER <br /> Holden & Jessup, P.C. <br /> 303 E. 17th Avenue, Suite 930 <br /> Denver, Colorado 80203 <br /> RE: Mid-Continent--M&E/King <br /> Our File No. 2271-0030-0003M <br /> Dear Jim: <br /> My client, M&E King, has received, as you are aware, a letter <br /> from Mid Continent Resources, Inc. dated January 22 , 1993 , signed <br /> by Mr. Delaney, in which Mr. Delaney requests my client to suspend <br /> its sales activities pursuant to that Contract between them dated <br /> September 1, 1992. <br /> It is my client's position that the right of suspension <br /> referred to in Article VII B of the Contract dated September 1, <br /> 1992 provides for right of suspension limited to a sale of the Mine <br /> as "an operating facility" . A sale of merely the tailings, as my <br /> client was advised, if that is what is contemplated by the pending <br /> agreement, (which we have not seen) , with an unidentified <br /> purchaser, does not comply with that condition. <br /> The right of suspension was further clearly limited to the <br /> period of "Removal, Dismantling and Preparation of Equipment for <br /> Sale" , (i.e. , as described in Article II A) based on the "Work" <br /> referred to in the fourth line of Article VII B, especially when <br /> taken into account with the definitions and the reference in <br /> Article VII B to "Costs of the Work", (which was solely related to <br /> the "Removal, etc. " described in Article II A) . <br /> My client did all of the underground removal work and has <br /> otherwise performed its obligations required under the Contract. <br /> My client has proceeded, at substantial expense, to prepare <br /> brochures and advertising with respect to the Equipment, and, I am <br /> advised, has approximately $2 . 3 million worth of potential sales <br /> pending, (see list attached) , merely awaiting access to the <br /> Equipment when the snow conditions permit. My client, with an <br /> exclusive sales agency for the Equipment, would thus be <br /> substantially damaged to the extent of its 50% commission from <br /> those sales, (and those, even much larger, sales expected this <br />