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Mr. William G. Boswell <br /> January 6, 1993 <br /> Page - 3 <br /> best interest to proceed with such closing as rapidly as possible. <br /> With respect to 7.3, I believe the Contract is clear that <br /> the intent is to convey all assets owned by MCR subject to <br /> enumerated exceptions, but, for the sake of clarity, excluding <br /> office furniture belonging to Mid-Continent Minerals Corporation as <br /> well as assets belonging to Carbondale Mine Services and Pitkin <br /> Iron Corporation and, of course, the longwall equipment in the #1 <br /> Mine belonging to the United States government. An inventory is <br /> being taken in the Carbondale Office to define specifically the <br /> excluded office equipment belonging to Mid-Continent Minerals <br /> Corporation, with the understanding that any of such equipment <br /> belonging to Mid-Continent Resources would be included. <br /> Another item that is left open is the matter of continued <br /> occupancy by MCR of a portion of the Carbondale Office following <br /> closing for a limited period of time. I have set this up as a <br /> lease-back to MCR to be prepared as an exhibit to the contract. <br /> I am hopeful that this re-draft, together with the draft <br /> of escrow instructions and surety documents will afford a basis for <br /> a constructive discussion when we meet. <br /> Another matter that we should discuss is the approach to <br /> be taken toward providing surety on bonding required by the MLRD. <br /> Sincerely, <br /> MID-CONTINENT RESOURCES, INC. <br /> By <br /> Robert Delaney <br /> Exec. Vice President and <br /> General Counsel <br /> RD/lta <br /> Enclosures <br /> cc: Mr. Ernest Tietzen <br /> Mr. J. A. Reeves <br /> Mr. John Reeves, Jr. <br />