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05/19/99 16:19 FAX 3037962777 BURNS FIGA & }RILL 12002/014 <br /> I <br /> SETTLEMENT AGREEMENT <br /> This Settlement Agreement is entered into this day of May Apr-4, 1999 by and <br /> between Board of County Commissioners of Pitkin County, Colorado, Plai stiff and Third Parry <br /> Defendant ("Pitkin County") and Thomas Carl Oken, Pitkin County Treasurer, Plaintiff, Mid- <br /> Continent Resources, Inc. ("MCR") and Louis M. LaGiglia, Creditors' Trust ee under Bankruptcy <br /> Plan of Liquidation ("Trustee"), Defendants and Third-Party Plaintiffs, 1\lidCon Realty, LLC <br /> ("MidCon"), Third-Party Plaintiff and State of Colorado, Department oi' Natural Resources, <br /> Division of Minerals and Geology, Third-Party Defendant ("DMG"). <br /> RECITALS: <br /> A. From the 1950s until 1991, MCR conducted coal minis€ operations in Coal <br /> Basin. The coal mining took place primarily in Pitkin County, but al 3o involved land in <br /> Gunnison County and Garfield County, Colorado. <br /> B. In 1992, MCR filed bankruptcy in U.S. Bankruptcy Court i 1 Colorado. MCR's <br /> Second Amended Plan of Liquidation was approved by the Bankruptcy Coa t on April 11, 1994. <br /> C. The Liquidation Plan called for funding of reclamation of Coal Basin through <br /> liquidation of MCR's property in Coal Basin. DMG appeared in MCR's bankruptcy case and <br /> filed a proof of claim for reclamation costs. <br /> D. MCR began reclamation operations in Coal Basin in : 991 and continued <br /> reclamation in 1992 and 1993. In 1994, DMG took over reclamation operations and has <br /> continued to perform reclamation since that time. <br /> E. The Parties to this Settlement Agreement are parties to a law3uit in District Court <br /> Pitkin County, Colorado, Case No. 97-CV-131-1 ("Lawsuit"). <br />