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Minutes, April 22-23, 1992 38 <br /> interest in the property upon which the equipment and fixtures were <br /> constructed. Mr. Johnson said that according to the lease , under <br /> certain conditions , ownership of the equipment and fixtures would be <br /> reverted to Reynolds , without regard to SCMCI ' s other creditors. <br /> Mr. Johnson said the Division has been attempting to secure a <br /> Subordination Agreement with the successors of Reynolds , which includes <br /> 3 corporations , the Aztec Minerals Corporation , South Mountain Minerals <br /> Corporation and Gray Eagle Mining Corporation. He presented EXHIBIT C, <br /> a Subordination Agreement signed by representatives of the 3 <br /> corporations . However, Mr. Johnson said that because one of the <br /> attachments was not included when the document was signed by the <br /> corporations and the fact the SCMCI has not signed the agreement, the <br /> Board would not be asked to sign the agreement until those issues have <br /> been resolved. He requested that the Board delegate the authority for <br /> signing the Subordination Agreement to one of the Board Members . There <br /> was no objection from Mr. Sutton on behalf of S,CMCI . <br /> It was MOVED that the Board delegate authority for signing the <br /> Subordination Agreement to the Chair, after a determination has been <br /> made that it satisfies concerns of the Board and Division. SECONDED <br /> AND PASSED UNANIMOUSLY (Kraeger-Rovey, Cooley, Jouflas , Stewart, <br /> Danielson and Danni ) ; Cattany not present for the vote . <br /> It was MOVED that the Board approve the Division' s recommendations <br /> regarding adoption of the Settlement Agreement and assessing a $2,000 <br /> civil penalty against SCMCI . SECONDED AND PASSED 5 for (Kraeger-Rovey, <br /> Cooley, Jouflas , Stewart and Danni ) ; 1 abstention (Danielson) ; Cattany <br /> not present for the vote. - <br /> 11 . DISCUSSION ITEM <br /> Discussion of Draft Cease and Desist Orders . Continued to the May 1992 <br /> Board Meeting. <br /> Staff Presentation by Daniel I . Hernandez: <br /> 12 . DISCUSSION .ITEM <br /> MID-CONTINENT RESOURCES, INCORPORATED File No. C-81-017 <br /> COAL. BASIN- MINES <br /> 818 Colorado Avenue <br /> P. 0. Box 1298 <br /> Glenwood Springs , CO 81601 <br /> Mine Site located in Secs . 31 and 32 , T9S, R89W; Secs . 5-8, 10-12, <br /> 14-21 and 28-30, TIOS, R89W; Sec. 36, T9S, R90W; Secs . 1 , 2, 11-14 and <br /> 23-25, T10S, R90W, all in 6th P.M. , Pitkin and Gunnison Counties . Rail <br /> loadout located in SE 1 /4 Sec. 35, T7S , R88W, 6th P.M. , Garfield <br /> County, 11 ,386 acres ; underground coal . Monthly update on continuation <br /> of Show Cause (why permit should not be suspended or revoked) ; no <br /> specific Board action requested at this Meeting (continued from the <br /> March 1992 Board Meeting) . <br /> Staff said that during its February 1992 Meeting, the Board postponed <br /> additional action against the operator to the May 1992 Board Meeting, <br />