2013-06-24_REPORT - P2009018 - Laserfiche WebLink

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(u) that Marcie Jaeger, as lead principal to the Receiver, will be paid by the Lender at $250 per hour, except that time for necessary travel in connection with performance of her duties on behalf of the Receiver may be billed at $375 per hour, reimbursement for reasonable and necessary expenses, plus a $1500 termination fee, such termination fee being intended to compensate the Receiver for miscellaneous administrative activities post- discharge, including preparing and filing receivership tax returns; distributing final funds in accordance with the discharge order; notifying all vendors; closing bank accounts; filing and storage of books and records, and coordination of asset transfers to new owner or creditor; (v) that the Receiver is directed to file with the Court and serve on parties of record, within 45 days of entry of the order of the Court, and not less than quarterly thereafter, and within 60 days after termination of the receivership, full and complete reports, detailing receipts, disbursements and transactions affecting the Red Arrow Collateral, such reports shall include a "Quarterly Mining Report" in the form attached hereto as Addendum A; (w) that the Receiver is directed to post a surety bond in the amount of $25,000, the cost of which shall be an expense of the receivership; (x) that it is ordered that no person or entity may file suit against the Receiver, in its capacity as Receiver, unless otherwise authorized in advance by this Court; (y) that the Receiver is authorized, in its discretion, to hire agents, managers, entities, and /or consultants, and to use the services of employees of Jaeger Kottmeier Associates, as it believes are reasonably necessary to perform its duties as receiver herein; (z) that the Receiver, and those agents and any property manager acting under its control, have no personal liability in connection with any obligations owed by the Defendants to their respective creditors; (aa) that the Receiver, and those agents and property manager identified above acting under its control, have no personal liability in connection with their conduct in the course of this receivership, except for claims due to their gross negligence, gross or willful misconduct, malicious acts, and /or failures to comply with the orders of this Court; (bb) that the Receiver is authorized to undertake all actions specifically set forth in the order of the Court, as well as to exercise the usual and customary powers accorded to a receiver under Colorado law (except as otherwise limited by the order of the Court or any subsequent order of the Court); (cc) that the Receiver may be removed upon 30 days written notice by Lender that Lender desires such removal, with a copy of such notice lodged with the Court, and Receiver may resign and, upon motion to the Court with notice to Lender and Defendants, request an order approving the Receiver's resignation and discharging the Receiver. Upon removal or resignation of the Receiver, the Court shall appoint a substitute receiver to be recommended by Lender; 15 HRODEN \1646830 1