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Li <br /> DIID-CONTINENT RESOURCES, INC. <br /> 201 Centennial St,Suite 406 <br /> Glenwood Spring& Colorado 81601 <br /> (303)945-4958 <br /> July 31, 1986 <br /> Ms. Candace Thompson <br /> Mined Land Reclamation Division <br /> 423 Centennial Building <br /> 1313 Sherman Street <br /> Denver, CO 80203 <br /> Dear Candace: <br /> Enclosed are copies of Revised Real Estate Appraisals of the two <br /> pieces of property that have been deeded to MLRD as surety for <br /> our reclamation bond. You requested the reappraisal in light of <br /> current economic conditions in your March 18th Mid-Term Review <br /> report. <br /> We were pleased to see that the appraisals came in at the same <br /> total amounts as before even though there were some variations <br /> in the amounts based on the different approaches (cost, market <br /> and income) . <br /> The total appraised value of the two properties is $3,100, 000 . <br /> Based on the MLRD policy of accepting 85% of appraised value <br /> for bonding surety, we should be covered for a bond of up to <br /> $2, 635, 000. <br /> I 've received your letter containing Jeff Deckler' s comments on <br /> our July 9th meeting and am preparing our answers to the points that <br /> are still in contention. <br /> Sincerely, <br /> George E. Wear <br /> Director, Special Projects <br /> GEW:rm <br /> Enclosure <br />