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e l l <br /> 7(�K <br /> G <br /> COLORADO <br /> Division of Reclamation, <br /> Mining and Safety <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 215 <br /> Denver,Colorado 80203 <br /> August 21, 2014 <br /> Jim McCormick <br /> McCormick Excavating&Paving,LLC <br /> 30887 US Highway 24 <br /> Stratton,CO 80836 <br /> Re: McCormick Pit,Permit No.M-2001-052,Financial Warranty Increase(Associated with SO-01), SI-01 <br /> Dear Mr.McCormick: <br /> On July 8, 2014 the Division of Reclamation,Mining and Safety(Division)received your completed Application for <br /> Transfer of Mineral Permit M-2001-052 and Succession of Operators(SO). During the review period of the SO,the <br /> Division has reviewed the current reclamation cost estimate of the McCormick Pit as per Rule 1.12.1(1). The <br /> Corporate Surety, in the amount of $75,000.00, held for reclamation tasks of the site has been found to be an <br /> inadequate amount.The Division has prepared a new reclamation cost estimate based on the submitted and approved <br /> mining and reclamation plans and from site observations made on May 12, 2014. The Division calculated the cost to <br /> reclaim the proposed affected disturbance of 30 acres (maximum allowed) to be $100,000.00. This is an increase <br /> of$25,000.00 from the current financial warranty held. <br /> In accordance with Rule 4.2.1(2),the Operator is required to submit this additional amount within 60 days <br /> of this letter (October 20, 2014). If you wish to submit a different type of financial warranty, there are various <br /> application forms on our website at mining.state.co.us. Failure to submit the required financial warranty is a <br /> violation of the Construction Material Rules and Regulations. <br /> For questions regarding financial warranties, please contact Barbara Coria, the Division's Financial Assurance <br /> Specialist, at(303) 866-3567 x 8148. <br /> For all other questions,please contact me at 303-866-3567 x8132. <br /> Sincerely, <br /> %e� <br /> Elliott R. Russell <br /> Environmental Protection Specialist <br /> Certified Mail No.: 7012 3460 0000 6385 4353 <br /> Cc: Tom Kaldenbach; DRMS <br /> Barbara Coria; DRMS <br /> �w° �0, <br /> 1313 Sherman Street, Room 215, Denver, CO 80203 P 303.866.3567 F 303.832.8106 http://mining.state.co.us E s 9p <br /> John W. Hickentooper, Governor I Mike King, Executive Director I Virginia Brannon, Director I c „\ o, <br /> 1876 <br />