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Letter to Larry Perino -2- August 9, 1996 <br /> Minerals Program Administration Fee @ 5.00% of contract: $33, 181.00 <br /> Total required Financial Warranty (direct plus indirect plus DMG admin. ) : <br /> $697, 000. 00 <br /> Based on the estimate presented above, additional Financial Warranty in <br /> the amount of $197, 000.00 is required beyond the $500, 000.00 already <br /> provided in order to satisfy Commitment 13 to the approval of Technical <br /> Revision TR-014 to the Sunnyside Mine permit. Since the valve on the <br /> American Tunnel bulkhead has already been closed following a verbal <br /> approval by Division Director Michael B. Long, the additional Financial <br /> Warranty should by provided as soon as possible, but no later than 60 days <br /> following the date of this letter. Also, the Financial Warranty-Letter <br /> of Credit bonding form needs to be executed by SGC in support of the <br /> $500,000.00 Irrevocable Letter of Credit issued by the Royal Bank of <br /> Canada, New York Branch that SGC has already provided. A copy of this <br /> bonding form is provided for your use. As you know, this is the second <br /> time that the Division has requested that this form be executed by SGC, <br /> as such, this form must be executed by SGC and provided to the Division <br /> as soon as possible, but no later than 4:00 p.m. MDT on August 16, 1996.'� <br /> If you wish to discuss the Division's cost estimate, or if you have any <br /> other questions, please contact me. <br /> Sincerely, / <br /> Allen C. Sorenson <br /> Reclamation Specialist <br /> enclosure(s) <br /> cc: J Deborah Mulloy, DMG (w/o enclosure) <br /> C:\WP51\SGC10.BND <br />