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• • III illllllllllll III <br />,~- <br />STATE OF <br />DIVISION OF MINERALS AND GEOLOGY <br />Depanrnent of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone:(30318663567 COAL RECLAMATION BOND <br />>Ax:t3o31s3z~loc FOR USE WITH LETTER OF CREDIT <br />FEDERAL MINE <br />RECEIVED <br />AUG 16 1995 <br />Permit No.: c-el-o22 <br />KNOW ALL MEN BY THESE PRESENTS, That <br />~~~~~ <br />DEPARTMENT OF <br />NATURAL <br />RESOVRCEs <br />ftoy Romer <br />Division of Mine(dIS & Ge0i0 amp s. ~«nl,e,a <br />EaeMive Dimctor <br />Pacific Basin Resources Michael B. LOng <br />Division Dinxlp <br />A Division of Oxbow Carbon & Minerals, Inc. <br />of the County of Cunn;c_on and State of coloraao as Principal, <br />(hereinafter "Principal", whether one or more Principals) is held hereby and <br />firmly bound unto the State of Colorado (the "State") and the United States <br />("the United States/Office of Surface Mining Reclamation and Enforcement <br />(OSMRE))", in the sum <br />Of_Five Hundred Seventy Five Thousand and no/100------------------°-- Dollars <br /><E 575,000.00 ) for the payment of which sum, well and truly to <br />be made, the Principal hereby binds itself and its successors and assigns <br />firmly by these presents. <br />Principal has caused <br />PNC <br />Of Louisville State of <br />Kentucky <br />Bank <br />(the "Bank"), to issue its Irrevocable Letter of Credit No <br />13424 <br />dated October 21 1992, payable to the State of Colorado Mined <br />Land Reclamation Board (the "Board") and the United States/OSMRE in the amount <br />Of Five Hundred Seventy Five Thousand and no/100--- <br />---------------------------Dollars ($ 575,000.00 ) (the "Letter <br />of Credit") and has delivered it to the State, to be held by the State as <br />surety (the "Surety") for the faithful performance by the Principal of its <br />obligations to the State as evidenced by this bond. The Bank is not a party <br />to this agreement. Its obligations are set forth in its Letter of Credit. <br />Nothing in this instrument diminishes or qualifies the Bank's obligations <br />under its Letter of Credit. <br />WHEREAS, the Principal has applied for a permit (the "Permit") to <br />conduct mining and reclamation operations on certain lands in Gunnison <br />County, Colorado which, for convenience of reference, are described as follows: <br />See Attached Exhibit A <br />