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OFFICE OF GENERAL COUNSEL <br /> MID-CONTINENT RESOURCES, INC. <br /> DBA <br /> MID-CONTINENT COAL & COKE COMPANY <br /> P.O.DRAWER 700 <br /> 818 COLORADO AVENUE <br /> CHICAGO OFFICE GLENWOOD SPRINGS, COLORADO 81601 TELEPHONE <br /> 105 W.ADAMS STREET AREA CODE 303 <br /> CHICAGO, ILLINOIS 845-8540 <br /> September 29 , 1982 _ <br /> 11-%."CE5VED <br /> 1982 <br /> Mr. David C. Shelton <br /> Director MINED LAND RECLAMATION <br /> Mined Land Reclamation Division C"!c. Dept. cf i a!ur2! Rescurces <br /> 423 Centennial Building <br /> 1313 Sherman Street <br /> Denver, Co 80203 <br /> Dear Mr. Shelton: <br /> As you know, Mid-Continent Resources has posted a <br /> Reclamation Bond with your Division in support of the Coal <br /> Basin mining permit application in the amount of $1 ,970 ,148 <br /> secured by a Mortgage on certain real property that has <br /> been appraised at $2, 000 ,000 . <br /> With the recent approval by the Board of our permit <br /> application to open a new limestone quarry just north of <br /> Glenwood Springs, we are required to post a reclamation <br /> bond of $7 ,000 as a condition of issuance of the permit. <br /> Since the Mortgage To Secure Reclamation Bond is <br /> now limited to $1,970 ,148 on the property valued at <br /> $2, 000 ,000 to secure the Coal Basin Reclamation Bond, it <br /> would appear that the mortgage could be raised to <br /> $1,977 ,148 to cover both bonding requirements . <br /> If you agree with this proposal , we will prepare <br /> a Reclamation Bond for the limestone quarry in the amount <br /> of $7,000 and would prepare a mortgage agreement pledging <br /> as security the property which is also security for the <br /> Coal Basin Reclamation bond. <br />