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Mr. Kevin Riordan <br /> January 13 , 1997 <br /> Page- 2 <br /> 4 . 1 . 2 No response has been received from the Forest <br /> Service . <br /> 4 . 1 . 3 A report by Harlan & Associates was submitted <br /> to the Forest Service . Further explanations were requested, and <br /> as I understand were provided. If there are open issues, we <br /> would appreciate hearing about them. <br /> 4 . 1 . 4 Provides for termination of Contract in the <br /> event the conditions are not acceptable . <br /> On Page 1 of the Contract it is stated: <br /> "WHEREAS, it is in the interest of all parties that the <br /> Prep Plant tract be transferred to USFS under the <br /> conditions hereinafter described on an expedited basis <br /> in order to provide funds to complete reclamation of <br /> disturbed areas and to meet the requirements of the <br /> Bankruptcy Liquidation Plan hereinafter mentioned. " <br /> The Board of County Commissioners of Pitkin County, <br /> acting through the County Attorney have demanded that all sales <br /> proceeds including those held in escrow by Stewart Title of Aspen <br /> on the Telluride Land Exchange be applied toward payment of <br /> delinquent Pitkin County taxes . The County has filed an <br /> Application to the Bankruptcy Court in an attempt to require <br /> application of sale proceeds to payment of back taxes . <br /> The Bankruptcy Trustee and Mid-Continent Resources as <br /> Debtor-in-possession have taken the position, according to their <br /> understanding of the Liquidation Plan, that 691 of net proceeds <br /> of sales up to $3 , 000 , 000 shall be applied to the Reclamation <br /> Fund held by the Division of Minerals and Geology (DMG) . This <br /> was intended to give assurance to DMG and USFS that the <br /> conditions of paragraph 4 . 0 would be timely met . <br /> Adam Poe of Western Land Group has indicated that he <br /> believes the necessary exchanges are attainable, although in <br />