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T <br />_ _ _ - <br />- ~.~s,e.~a.~ ~~r ,,-ate ~~, ^ w e,~~ourteous Service'Wfir`Mtt~it~'ED <br />-~~`-"` Division of <br />Minerals & Geolo <br />IRREVOCABLE LETTER OF CREDIT <br />~uN o s 2oaa <br />Division of Minerals and Geology <br />The GUNNISON BANK AND TRUST COMPANY Bank of GUNNISON. COLORADO <br />Street: 232 W. Tomichi Ave. <br />City: Gunnison __ <br />State: Colorado Zip Code: 81230 <br />Area Code: 970 Telephone: 641-0320 <br />Beneficiary: <br />STATE OF COLORADO <br />MINED LAND RECLAMATION BOARD <br />215 CENTENNIAL BUILDING <br />1313 SHERMAN STREET <br />DENVER, COLORADO 80203 <br />LETTER OF CREDIT NUMBER: <br />Amount U.S. $29,804.00 <br />Date of Issuance: Mav 2, 2002 <br />Initial Expiration Date: May 2, 2003 <br />Applicant: AMERICAN CONCRETE AND GRAVEL, LLC, A COLORADO LIMITED LIABILITY <br />COMPANY <br />Street: 200 INDUSTRIAL PARK ROAD <br />City: GUNNISON <br />State: COLORADO Zip Code: 81230 <br />Area Code: 970 Telephone: 641-2966 <br />Gentlemen: <br />We hereby issue and establish our irrevocable letter of credit, the amount of which is available by <br />beneficiary's draft or drafts drawn upon us, which shall be paid at sight, when accompanied by the <br />following document: <br />A written statement of the Director ("the Director") of the Division of Minerals and <br />Geology of the State of Colorado ("the Division") certifying that he is a duly authorized <br />official acting on behalf of the State of Colorado and that the amount of the <br />accompanying sight draft is due and payable to the State of Colorado pursuant to <br />applicable provisions of Colorado statutes governing mined land reclamation and that <br />AMERICAN CONCRETE AND GRAVEL. LLC Company or its successor has <br />neglected, failed, or refused to pay such amount although requested to do so by the <br />Director. <br />THE GUNNISON BANK <br />232 WEST TOMICHI • P.O. BOX 119 <br />GUNNISON, COLORADO 61230-0119 <br />PHONE: (970) 641-0320 • FACSIMILE: (970) 641-0054 <br />THE CRESTED BUTTE BANK <br />116 6TH ST. (HWY 135) • P.O. BOX 1010 <br />CRESTED BUTTE, COLORADO 81224 <br />PHONE: (970) 349-0170 • FACSIMILE: (970) 349-0175 <br />THE GUNNISON BANK AND TRUST COMPANY <br />