2017-11-13_REVISION - M1981276 ‎(3)‎

• Permit No: M1981276
• IBM Index Class Name: REVISION
• Doc Date: 11/13/2017
• Doc Name: Approval Document
• From: DRMS
• To: R N P Enterprises, Inc.
• Type & Sequence: SO3
• Email Name: ACY
• Media Type: D
• Archive: No

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Ban Yam aVa11e k �r1ti«.yampavalleybank corn435 Mack Lane
• Genuine Hometown✓Banking Cram,Colorado 81625
Yampa Valley Bank NMLS#222273
State of Colorado
Department of Natural Resources M 21 io
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Division of Reclamation, Mining and S t 1 LAt i 4A 06IAf tJ( RECEIVED
RELEASED ON:
11-8-20 �, NOV 1 8 20',;
IRREVOCABLE LETTER OF CREDIT Division of Reclamation,
By:�c fie i4- alorido Mining&Safety
Beneficiary: LETTER OF CREDIT NUMBER:46000508
STATE OF COLORADO Amount U.S.$36,650.00
MINED LAND RECLAMATION BOARD Date of Issuance: October 15,2016
215 CENTENNIAL BUILDING Initial Expiration Date: October 15,2017
1313 SHERMAN STREET Permit No.: M-1981-276
DENVER,COLORADO 80203
Applicant: RnP Enterprises,Inc. MiCig f ZDV
Street: 1135 Co Rd 30
City: Craig
State: Colorado Zip: 81625
Area Code: 970 Telephone: [phone]
Gentlemen:
We hereby issue and establish our irrevocable letter of credit,the amount of which is available by beneficiary's draft or drafts
drawn upon us,which shall be paid at sight,when accompanied by the following document:
A written statement of the Director("the Director") of the Division of Reclamation, Mining and Safety of the State of
Colorado ("the Division") certifying that he is a duly authorized official acting on behalf of the State of Colorado and
that the amount of the accompanying sight draft is due and payable to the State of Colorado pursuant to applicable
provisions of Colorado statutes governing mined land reclamation and that RnP Enterprises. Inc. or its successor has
neglected, failed,or refused to pay such amount although requested to do so by the Director.
Each sight draft so draktin and presented shall be honored by us if presented prior to the close of business on the expiration date
of this letter of credit. The Bank shall make a payment by wire transfer to the Beneficiary. This letter of credit refers to RnP
Enterprises.Inc.application for a permit to engage in mining and reclamation activities within the State of Colorado.
It is an express condition of this letter of credit that it shall be automatically extended for successive additional periods of one
year each,from the initial and each future expiration date unless the Yampa Valley Bank("the Bank")shall notify the Director
at least 90 days prior to an expiration date in writing by certified mail,at the above address,that the Bank elects not to extend
the letter of credit for such additional period. In such event, in addition to his power to draw hereon under the preceding
paragraphs,the Director may draw the full or any lesser amount hereof at any time prior to such expiration date by sight draft,
or drafts,accompanied by the written statement of the Director certifying that the amount drawn will be held as a cash deposit
in lieu of financial warranty,as provided in applicable Colorado statutes governing mined land and reclamation.
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