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Time Certificate of Deposit I
<br />Financial Institution: PUEBLO BANK AND TRUST COMPANY
<br />301 W. 5th, Pueblo, CO 81003
<br />1216766
<br />Account Nltme: THE GRIFFIN RANCH LLC - ASSIGNED TO STATE OFD SSNJTIN: Bt-0565415
<br />COLO/MLRB - PDPA# 010004005101?
<br />OWNERSHIP TYPE: Government/Municipal/Public Funds v
<br />Account Number Issue Dete Deposit Amount Term Maturity Date
<br />1216766 June 8, 2005 $52,804.00 182 Days December 7, 2005
<br />Rate Informaton: This Account is an interest beadng account. The interest rate on the account is 1.81% with en annual percentage yield of
<br />1.82%.
<br />The interest rate and annual percentage yield will not change for the term of the arxount. The interest rate will be in effect until December 7,
<br />2005. Interest begins to accrue on the business day you deposit noncash items (tor example, checks). Interest will not be compounded on the
<br />account. Interest will be credited at maturity. We will deposit the interest in an account that you designate. Interest will be credited at maturity to
<br />youraccoun2M300128398.
<br />Balance Information: We use the daily balance method to calculate the interest on the account This method applies a dairy pedodic rate to
<br />Me principal in the account each day. We will use an interest accrual basis of 365 for each day in the year.
<br />Limitations: You must deposit $1,1X10.00 to open this account. You may not make additional deposits into this account. You may not make
<br />withdrawals from your account until the maturity date.
<br />Time Aeeount Information: Your account will mature on December 7, 2005. If you withdraw a of the pri ~ al befo he maturity date, we
<br />may impose a penalty of ninety (90) days interest . This account wit automatic renewh u will a 70 ay5 er the aturiry dotfl to
<br />withdraw funds without penalty. ~ ~~ r
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<br />NON TRANSFERABLE -NON NEGOTIABLE Member
<br />FDIC Sig t can ' aotA th Ix 4F' aneial ins itutlon Signer
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<br />TIME DEPOSIT AGRE /ENT - 182 DAY CD
<br />We appreciate your decision to open a time deposit account with us. This reement sets forth certain conditions, rates, end rules that are specific to
<br />your Account. Each signer acknowledges that the Account Holder named as placed On deposit with the Financial Institution the De osif Amount
<br />indicated, end has agreed to keep the funds on deposit until the Maturity Date. As used in this Agreement, the words you", "your" or yours" mean
<br />the Account Holder(s), the word "Account" means this Time Deposit Account and the word "A reement" means this Time Deposit Agreement, and the
<br />words "we", "us" and "our" mean the Financial Institution. This Account is effective as of the Issue Date and is valid as of the date we receive credit
<br />for noncash items (such as checks tlrawn on other financial institutions) deposited to open the Account. Deposits of foreign currency will be
<br />converted to U.S. funds as of the date of deposit antl will be reflected a5 such on our records.
<br />INTEREST RATE. The interest rate is the annual rate of interest paid on the Account which does not reflect compounding ("Interest Rate"), and is
<br />based upon the interest accrual basis described above.
<br />AUTOMATIC RENEWAL. POLICY. If the Account will automaticatiy renew as described above, the principal amount and all paid earned interest that
<br />has not been withdrawn will automatically renew on each Matunty Date for the term described above m the Time Account Information section.
<br />Interest on renewed accounts wGl be caEulated at the interest rata then in affect for time de osits of that Deposit Amount and term. If you wish to
<br />withdraw funds from your Account, you must notify us during the grace period aHer the Matun y Date.
<br />EARLY WITHDRAWAL PENALTY. You have agreed to keep the funds on deposit until the Maturity Date of your Account. Any withdrawal of all or
<br />part of the funds from your Account poor to maturity may result in an early withdrawal penalty. We will consider requests for early withdrawal and, if
<br />granted, the penalty as speafied above will apply.
<br />Minimum Required Penalty. If you withdraw money within six (6 days after the date of deposit, the Minimum Required penalty is seven (7)
<br />days' simple interest on the withdrawn funds. If partial early withdrawal s) are permitted, we are required to impose the Minimum Required Penalty
<br />on the amount(s) withdrawn within six (6) days aHer each partial withdrawal. The early withdrawal penalty may be more than the Minimum Required
<br />Penalty. Vou pay the early withdrawal penalty by forfeiting part of the accrued interest on the Account. IF your Account has not earned enough
<br />interest, or if the interest has been paid, we take the difference from the principal amount of your Account.
<br />Exceptions. We may let you withdraw money from your Account before the Maturity Date without an early withdrawal ppenalty: (1) when one
<br />or more of you dies or is determined legally incompetent by a court or other adminishative body of competent jurisdiction; or (2) when the Account is
<br />an Individual Retirement Account (IRA) established in accordance with 26 USC 408 and the money is paid within seven (7) days after the Account is
<br />opened; or (3) when the Account is a Keogh Plan (Keogh), if you forteit at least the interest earned on the withdrawn funds; or (4) if the Account is
<br />an IRA or a eogh Plan established pursuant to 2 USC 408 or 26 USC 4D1, when you reach age 59 1/2 or become disabled; or (5) within an
<br />applicable grace period (if any).
<br />RIGHT OF SETOFF. Subl~ect to applicable law, we may exercise our right of setoff or secud interest against any and all of your Accounts (except
<br />IRA, Keogh plan and Trust Accounts) without notice, for anY liability or debt of any of you, w ether joint or individual, whether direct or contingent,
<br />whether now or hereafter existing, and whether arising from overdrafts, endorsements, guarantees, loans, attachments, garnishments, levies,
<br />.adorneys' fees, or other obligations. If the Account i5 a Point or multiple-party account, each joint or multiple-party account holder authorizes us to
<br />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 ou lose this Agreement, you agree to sign any affidavit of lost Instrument, or other Agreement we may require, and agree to hold us
<br />Karmless from liability, prior to our honoring your withdrawal or request.
<br />Death of Account Holtler. Each Account Holder agrees to noty us immetliately upon the death of any other Account Holder. You agree that
<br />we may hold the funds in your Account until we have renewed all required documentation and instructions.
<br />Intlemn(ty. If you ask us to follow instructions that we believe might expose us to any claim, liability or damages, we may refuse to follow your
<br />instructions or may require a bond or other protection, including your agreement to indemnify us.
<br />Pledge. You agree not to pledge your Account without our prior consent. Vou may not withdraw funds from your Account until all obligations
<br />secured by your Account are satisfied.
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