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. t:., . <br />p ~ ~` ,~'~~~'"~~ Pine River R~hred . <br />- : ~TALLEY BANK, ~~ 0 3 2000 <br />301 N. COMMERCE DR. • BAYFIELD, COLORADO 81122 <br />970/884-9583 • FAX 970/884-0214 <br />IRREVOCABLE LETTER OF CREDIT <br />The P1NF RTVFR VAT.T.RV Bank Of gAYFTFT.n, f'nT.nRAnll <br />Street: 3fI1 N(lRT'H l'CTMMFRrF DRTVR <br />City: BAYFTFLD <br />State: COLORADO <br />Area Code: 970 Telephone: 884-9583 <br />Durango Ffe1d ~ Ge IogY <br />Bivis'on of Vl~nerals & <br />Beneficiary: LETTER OF CREDIT NUMBER: 085 <br />STATE OF COLORADO Amount U.S. $ 39,453.00 <br />DIVISION OF MINERALS & GEOLOGY Date of Issuance: June 29,2000 <br />1313 SHERMAN STREET, RM 215 <br />DENVER, COLORADO 80203 <br />Applicant: Ar,RT_nT.n T.T.r <br />Street: Pn Rt7X 367 <br />City: BAYFIELD <br />State: COLORADO Zip Code: 81122 <br />Area Code: Telephone: <br />Permit No: M-2000-030 County of Operation: LA PLATA <br />Gentlemen: <br />We hereby issue and establish our Irrevocable Letter of Credit, the amount of which is <br />available by beneficiary's draft or drafts drawn upon us, which shall be paid at sight, <br />when accompanied by the following document; <br />A written statement of the Director ("the Director") of the Division of Minerals <br />and Geology of the State of Colorado ("the Division") certifying that he is a duly <br />authorized official acting on behalf of the State of Colorado and that the amount <br />of the accompanying sight draft is due and payable to the State of Colorado <br />pursuant to applicable provisions of Colorado statutes governing mined land <br />reclamation and that AGRI-DLD, LLC Company or its successor has neglected, <br />failed, or refused to pay such amount although requested to do so by the Director. <br />MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION <br />