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5. Defendants admit the allegations in complaint paragraph 5. <br /> 6. Defendants admit that as of the date the bankruptcy proceeding was filed, <br /> Pitkin Countries ad z,alorem real and personal property taxes for the years 1990 and 1991 were <br /> unpaid. Defendants deny all other allegations in complaint paragraph 6. <br /> 7. Defendants admit that under the bankruptcy PLAN § 2.1 unpaid property <br /> taxes were classified as Class 1 claims secured by a senior statutory lien subject to the other <br /> provisions of the PLAN ("PLAN" is defined in Answer 1 71, post); the PLAN's effective date <br /> was August 13,199.1(§1.14).Defendants deny all other allegations in complaint paragraph <br /> 7. <br /> 8. Defendants deny the allegations in complaint paragraph 8. <br /> 9. Defendants admit the bankruptcy PLAN§3.1,inter alia,addresses the rights <br /> of Class 1 claims and that Plaintiffs have assessed accrued interest on unpaid ad valorem <br /> taxes. Defendants deny all other allegations in complaint paragraph 9. <br /> 10. Defendants are without information or belief as to the thinking or <br /> motivations of Pitkin County; accordingly,Defendants deny the allegations of complaint <br /> paragraph 10. <br /> 11. Defendants admit the bankruptcy PLAN created a Creditors' Trust under, <br /> inter alia,PLC\§6.2.2. The provisions of the PLAN speak for themselves. Defendants deny <br /> all other allegations in complaint paragraph 11. <br /> 12. Defendants admit bankruptcy PLAN § 1.26 defines "Net Proceeds'. <br /> Defendants deny all other allegations in complaint paragraph 12. <br /> 13. Defendants deny the allegations of complaint paragraph 13. <br /> 14. Defendants deny the allegations of complaint paragraph 14. <br /> 15. Defendants admit the allegations of complaint paragraph 15. <br /> 16. Defendants deny the allegations of complaint paragraph 16. <br /> 17. Defendants admit the allegations of complaint paragraph 17. <br /> 18. Defendants admit Pitkin County requested an accounting.Defendants deny <br /> all other allegations in complaint paragraph 18. <br /> CIVIL No.97 CZ'131-3 -2- AMENDED ANSWER&COUNTERCLAIMS <br />