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10. MCR has title, of uncertain quality, to a tract of <br /> about 5 acres along the Crystal River, which was part of the old <br /> railroad right-of-way. We have been offered $5,000 for this tract <br /> on a verbal basis by the adjacent landowner's attorney. Pitkin <br /> County is also interested. I anticipate one or the other will pay <br /> more than $5,000 and will continue working on it. <br /> 11. I am not aware that any progress has been made on <br /> resolving the issues discussed at the November 5 meeting as between <br /> MLRD, Sanwa, and Unsecured Creditors Counsel. <br /> We have been pursuing discussions with MLRD to try to <br /> refine and reduce the estimated cost of reclamation. However, MLRD <br /> has announced, and I believe will insist, that they will not make <br /> a firm dollar commitment as to maximum cost. <br /> Of course, if Mr. Boswell and Associates purchase the <br /> property, then an amount would have to be accepted as the <br /> reclamation bonding requirement. <br /> 12. I understand Jim Holden is working on a plan of re- <br /> organization and intends to circulate a draft in the near future. <br /> Robert Delaney <br /> Attachment <br /> 4 <br />