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THE CITIZENS STATE BANK <br />OF OURAY <br />IRRF, VOCABLE LE'1l'TER OF CREDIT <br />The Citizens State Bank of Ouray <br />600 Main St. P.O. Box A <br />Ouray Co. 81427 <br />970 325 -4478 <br />Beneficiary: <br />STATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING & SAFETY <br />1313 SHERM:AN•ST ROOM 215 LET'T'ER OF CREDIT NUMBER: <br />DEW ER CO 80203 NOTICE OF TNTEN'T NO, P- 2010•.0031--' <br />Aniown! ; 1. . $7,016.00 <br />Cittrrent Expilr.i_?ion site: December :30 2ii;!4 <br />Jack <br />112;; 5 (:utt!ity F.0_jC': _ .,:. -. f , 7 <br />City: SAU'V rtor Co. 81433 <br />970 387 -5243 or 970 327 -5243 <br />Gentlemen. <br />I We hereby issue and establish our irrevocable letter of credit, the amount of which is available by <br />)eneficiary's draft or.drafts drawn upon us, which shall be paid at sight, when accompanied by the <br />folloviing document. <br />A written statement of the Director ( "the Director) of the Divisiou of Reclamation, Mining and <br />Safety of the State of Colorado ("the Division) certifying that he is a duly authorized official <br />acting on behalf of the State of Colorado and that the amount of the accompanying sight drift is <br />due and payable to the State of Colo.rido .pursuant to applicable provisions of Colorado statutes <br />governing rained land reclamation that .Tacit Clark 'r. or its successor has neglected, failed, or <br />refused to pay such amount although reyaESted to do so by the Director. <br />.1 ach night draft so drawn and presented shall -'W hanomd by us if' presented prior to the close of business oil <br />- the. expiration date of this letter of credit_ '!?.c iivak, sha!'- , ?rake a payment by wire transfer ;n the <br />1cneficim -N. Thit dredit refers to Jack Curie • Jt application for a permit to engage . in minuscr and <br />rer.W- at"ran activities within the State of Coeo7ado. <br />I <br />t is a_t e,trpress condition of this letter 'of credit that it sh.ai! b: automatically extended for :;ucc:c rsiv% <br />additional periods of one year each, from the initial and ;.acn future expiration date unless The Citizens <br />Main Office Our"y <br />Riamay Branch <br />SiNerton llranah <br />Montrose County Branch <br />600 Main Street <br />145 W. Sherman - Hwy. 62 9S,or,4% <br />1201 Greene <br />Fiwy 141. tic 97 <br />P.O. Box A <br />P.O. Box 222 <br />P.O. B ox 6 <br />P.Q. BOX 160 - <br />Ouray, CO 81427 <br />(970) 325.4478 <br />Ridgway, CO 81432 <br />(970) 826 -5462 <br />Silverton. CO 81488 <br />(t17o) 387.5502 <br />Natu-ita, CO 81422 <br />(970) 865.2255 <br />l ax (970) :;'25.4351 <br />Fax (970) 626 -4778 y <br />Tax (970) 387 -5315 <br />Pax (07(1) RFS- 7.R.4a <br />Sold <br />Ablu- 10 714US <br />31diS N3ZI1I3 <br />Zd:OT £i0Z— Li —D3Q <br />