|
nancial Institution: WestStar Bank, NORWOOD OFFICE
<br />PO BOX 508, 1640 GRAND AVENUE, NORWOOD, CO 81423
<br />6026636
<br />Accoum Name: MAVERICK SAND & GRAVEL Assigned to the State of Colorado ssN/rIN:
<br />OWNERSHIP TYPE: Government/Municipal/Public FuntlsMlned
<br />Account Number Issue Data Dapoak Amount Term Maturity Date
<br />6026636 November 16, 2004 55,000.00 181 Days May 16, 2005
<br />Rate Information: This Account is an interest bearing account. The interest rate on the account is 1.24% with an annual percentage yield of
<br />1.25 %.
<br />The interest rate end annual percentage yield will not change for the term of the account. The interest rate will he in effect until May 18,
<br />2005. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items Ifor example, checksl.
<br />Interest will be compounded monthly and will be credited monthly. We will deposit the interest in an account that you designate. Interest will
<br />be credited monthly to your account 118100264364.
<br />Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to
<br />the principal in the account each day. We will use an interest accrual basis of 365 far each day in the year.
<br />Limhadons: You must deposit 5500.00 to open this account. Vou may not make additional deposits into this account. You may not make
<br />withdrawals from your account until the maturity data.
<br />Time Accoun! Information: Your account will mature on May 16, 2005. !f you withdraw any of the principal before the maturity date, we will
<br />impose a penalty of one month interest on the amount withdrawn. If the account is closed before interest is credited, you will not receive the
<br />accrued interest. This account requires the distribution of interest and does not allow interest to remain in the account. This account will
<br />automatically renew. Vou will have 10 calendar days after the maturity date to withdraw funds without penalty. If you do not withdraw the
<br />funds, each renewal term will be for an identical period of time as the original term.
<br /> Member seen roe a nvmori:ad Rr,en ' i isnia,~ v~
<br />NON TRANSFERABLE -NON NEGOTIABLE FDIC /
<br />TIME DEPOSIT AGREEMENT
<br />We appreciate your decision to open a time deposit account with us. This Agreement sets forth certain conditions, rates, and rules that are
<br />specific to your Account. Each signer acknowledges that the Account Holder named has placed on deposit with the Financial Institution the
<br />Deposit Amount indicated, and has agreed to keep the funds on deposit until the Maturity Data. As used in this Agreement, the words "you",
<br />"your' or "Yours" mean the Account Holderlsl, the word "Account" means this Time Deposit Account end the word "Agreement" means [his
<br />Time Deposit Agreement, and the words "we', "us" and 'our" mean the Financial Institution. This Account is effective as of the Issue Date and
<br />is valid as of the date we receive credit for noncash items (such as checks drawn on other financial institutions) deposited to open the Account.
<br />Deposits of foreign currency will be converted to U.S. funds as of [he date of deposit and will be reflected as such on our records.
<br />ISSUE DATE. It you open a time deposit account with us after 2:00 PM on a business day that we are open, we will consider that the
<br />transaction was made at the opening of the next business day for issue date and effective date purposes.
<br />INTEREST RATE. The interest rata is the annual rate of interest paid on the Account which does not reflect compounding ("Interest Rate"1, end
<br />,is based upon the interest accrual basis described above.
<br />AUTOMATIC RENEWAL POLICY. If the Account will automatically renew as described above, the principal amount and ell paid earned interest
<br />that has not been withdrawn will automatically renew on each Maturity Date for the term described above in the Time Account Information
<br />section. If the deposit term causes the maturity date to fall on Saturday, Sunday, or a holiday, the maturity date will be adjusted to the next
<br />business day. Interest on renewed accounts will be calculated at the interest rate then in effect for time depoaita of that Deposit Amount and
<br />term. If you wish to withdraw funds from your Account, you must notify us during the grace period after the Maturity Date.
<br />EARLY WITHDRAWAL PENALTY. You have agreed to keep the funds on deposit until the Maturity Date of your Account. Any withdrawal of ell
<br />or part of the funds from your Account prior to maturity may result in an early withdrawal penalty. We will consider requests for early
<br />withdrawal and, if granted, the penalty as specified above will apply.
<br />Minimum Required Penalty. If you withdraw money within six 161 days after the date of deposit, the Minimum Required penalty is seven 171
<br />days' simple interest on the withdrawn funds. It partial early withdrawallsl are permitted, we are reqGuired to impose the Minimum Required
<br />Penalty on the amountlsl withdrawn within six 161 days after each ppartial withdrawal, The early withdrawal penalty may tre more than the
<br />Minimum Required Penalty. You pay the early withdrawal penalty by forfeiting pert of the accrued interest on the Account. It your Account has
<br />not earned enough interest, or if the interest has been paid, we take the difference from the principal amount of your Account.
<br />Excepdona. We may let you withdraw money from your Account before the Maturity Date without an early withdrawal penalty 111 when
<br />one or more of you dies or is determined legally incompetent by a court or other administrative body of competent jurisdiction; or 12) when [he
<br />Account is an Individual Retirement Account (IRA) established in accordance with 26 USC 408 and the money is paid within seven 171 days after
<br />the Account is opened; or 131 when the Account is a Keogh Plan IKeoghl, if you forfeit at least the interest earned on the withdrawn funds; or
<br />141 if the Account is an IRA or a Keogh Plan established pursuant to 26 USC 406 or 26 USC 401, when you reach age 59 1/2 or become
<br />disabled; or 151 within an applicable grace period lif anyl~
<br />RIGHT OF SETOFF. Subject to applicable law, we may exercise our right of setoff or security interest against any and all of your Accounts
<br />lexcept IRA, Keogh plan and Trust Accounts) without notice, for any liability or debt of any of you, whether joint or individual, whether direct or
<br />contingent, whether now or hereafter existin8, and whether arising from overdrafts, endorsements, guarantees, loans, attachmems,
<br />garnishments, levies, attorneys' fees, or other obligations. If the Account is a joint or multiple-party account, each joint or multiple-party account
<br />holder authorizes us to exercise our right of setoff against any and all Accounts of each Account Holder.
<br />OTHER ACCOUNT RULES. The following rules also apply to the Account.
<br />Surrender of Instrument. We may require you to endorse and surrender this Agreement to us when you withdraw funds, transfer or close
<br />our Account. If you lose this Agreement, you agree to sign any affidavit of lost instrument, or other Agreement we may require, and agree to
<br />Xold us harmless from liability, prior to our honoring your withdrawal or request.
<br />Death of Account Holder. Each Account Holder agrees to notify us immediately upon the death of any other Account Holder. Vou agree
<br />that we may hold the funds in your Account until we have received all required documentation and instructions.
<br />Indemnky. If you ask us to follow instructions that we believe might expose us to any claim, liability or damages, we may refuse to follow
<br />your instructions or may require a bond or other protection, including your agreement to indemnity us.
<br />Pledge. Yeu agree not to pledge your Account without our prior consent. You may not withdraw funds from your Account until all
<br />obligations secured by your Account are satisfied.
<br />oerovr no, v.. e.n.mmz c.o,. er.a r.~.u r.x~.",. w.. s, vm,. u nma mow. co.. cm ma,wa
<br />~~7w( :~I 1~~1 a
<br />r~o o ~ 2ci;5
<br />Oirsi„~~u Y.. ......,~~ .Geology
<br />
|