EX-99 3 ex1sc13da26-sanjuan.txt EXHIBIT 1 EXHIBIT 1 --------- Kurt H. Wulff, CFA McDep Associates 399 Chestnut Street Needham, MA 02492-2478 (781) 444-0621 Fax: (781) 449-7735 kurt@mcdep.com www.mcdep.com July 2, 2002 Bank One, N.A. VIA FAX 817-884-4560 420 Throckmorton Street -------------------- 3rd Floor Fort Worth, Texas 76102 RE: SAN JUAN BASIN ROYALTY TRUST Ladies and Gentlemen: This letter is directed to you in your capacity as Trustee of the San Juan Basin Royalty Trust. We are in receipt of notice of your intention to resign. Under the provisions of Section 6.05 of the San Juan Basin Royalty Trust Indenture dated as of November 1, 1980, we nominate TexasBank to serve as successor. The undersigned own Units substantially in excess of the 15% required to nominate. We believe that a qualified independent bank presents reduced risk of conflict of interest as opposed to a large national organization. We also expect TexasBank to provide continuity in administration. Sincerely, McDep Associates By: /S/ KURT H. WULFF -------------------- Kurt H. Wulff The following concur in the nomination of TexasBank: Alpine Capital, L.P. Keystone, Inc. By Algenpar, Inc., General Partner By:/S/ KEVIN G. LEVY By: /S/ KEVIN G. LEVY ------------------------------- ------------------------------- Kevin G. Levy, Vice President Kevin G. Levy, Vice President Spears, Grisanti & Brown LLC Inland Associates Inc. By:/S/ WILLIAM G. SPEARS By: /S/ DAVID STARK -------------------------------- ------------------------------- William G. Spears David Starks, President