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approval, sale would be to Rudd on the terms set forth in the <br />Rudd contract. In the event that a higher offer is received <br />prior to Court approval on terms no less favorable than the Rudd <br />Contract, including price, conditions precedent, title <br />conditions, and date of closing, the sale would be to the highest <br />bidder. <br />12. The proposed sale price for the Industrial Park <br />represents appraised fair market value and exceeds the amount set <br />forth in the liquidation projection in the Debtor's Disclosure <br />Statement, which was $1,125,000. <br />13. Exhibit B, Section 1 (d) of the Rudd Contract <br />requires an environmental audit report which currently is being <br />performed. The Rudd Contract also requires the removal of <br />underground storage tanks and removal of hazardous substances, if <br />any. The Debtor has already removed underground storage tanks. <br />The Debtor is aware of no hazardous substances on the site, and a <br />preliminary audit has found no such substances. The Debtor <br />anticipates that the environmental audit will cost approximately <br />$10,000, and that the cost of remediation, if any, will not <br />exceed $25,000. In the event that the Debtor does not agree to <br />perform any required environmental remediation, Exhibit B, <br />Section 1 (d)(iii) of the Rudd Contract permits the Debtor to <br />rescind the contract. The estate is thus protected against <br />paying for remediation expenses if those expenses substantially <br />exceed what is anticipated by the Debtor. <br />14. The Debtor seeks authorization to sell the <br />Industrial Park on terms consistent with the confirmed Plan: <br />a. Section 3.1 of the Plan provides that Class 1 <br />claims for property taxes are unimpaired. Section 6.3 <br />of the Plan provides that "The Creditors' Trust shall <br />pay property tax claims in Class 1 from the proceeds of <br />property on which the property taxes are owed, or as <br />necessary to prevent loss of title to tax certificate <br />holders." Through July 1994, accrued property taxes on <br />the Industrial Park total $185,477.47. The Debtor <br />seeks authorization to pay all accrued property taxes <br />on the Industrial Park at closing. r <br />b. Section 2.5 of the Plan recites that Class 5 <br />reclamation claims "pertaining to the Mid- Continent <br />Quarry are secured by a senior lien on the Carbondale <br />Industrial Park, limited in amount to $7,000." Section <br />4.3.1 of the Plan provides that the MLRB, on behalf of <br />the Colorado Department of Natural Resources, Division <br />of Mineral Geology and the United States Department of <br />Interior, Office of Surface Mining Reclamation and <br />Enforcement, shall receive, with respect to that lien, <br />"$7,000 in cash on the Effective Date, which shall <br />3 <br />