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B N BII #iid, <br /> THE ' ERTHO60 NATIONAL BANK <br /> BERTHOUD. COLORADO <br /> IRREVOCABLE LETTER OF CREDIT <br /> The Berthoud National Bank LETTER OF DIT NUMB R: <br /> P.O. Box 1079 103 <br /> Berthoud, CO 80513 <br /> Telephone: , (303) 532-2676 Amount U.S. $34,404.5 <br /> Beneficiary : Applicant: <br /> STATE OF COLORADO Arkins Park Stone Co any <br /> I•IIINI Il 1 ANI) RI Cl AI'iAI 10N I10iuil) r1l. ry ii'i". No :1 i r. .`.pr�l"ille, D'd Grrp, <br /> 4;.'J CI.NII.NNIAl. 1!11111)1N(; ',')/', N . Cnlully Rind ;'/ <br /> 1313 SIILRMAN :,IRI-I.. I Invel,uul , Culnr,liln N11.)J/ <br /> DENVER, COLORADO 80203 <br /> Date of Issue: Initial Expiration Da e: <br /> January 10, 1990 January 10, 1991 <br /> Gentlemen: <br /> We hereby issue and establish our irrevocable letter of credit, the amount <br /> of which is available by beneficiary' s draft or drafts drawn upon us, which <br /> shall be paid at sight, when accompanied by the following document: <br /> A written statement of the Director ("the Director") of the Mi ed <br /> Land Reclamation Division of the State of Colorado ("the Division" ) <br /> certifying that he is a duly authorized official acting on beh if <br /> of the State of Colorado and that the amount of the accompanyi g <br /> sight draft is due and payable to the State of Colorado pursua t to <br /> applicable provisions of Colorado statutes governing mined lan <br /> reclamation and that Arkins Park Stone Company or its successo has <br /> neglected, failed, or refused to pay such amount although requ steel <br /> Lo do su uy the "uirector. <br /> Each sight draft so drawn and presented shall be honored by us if p esented <br /> prior to the close of business on the expiration date of this lette of <br /> credit. This credit refers to Arkins Park Stone Company 's applica ion for <br /> a permit to engage in mining and reclamation activities within the tate of <br /> f.nlor'ndn, <br />