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BLANCHARD <br />Insurance Group, Inc. <br />li <br />Bonding and Insurance <br />P.O. Bor 60130 • Grand !unction, CO 81506. 19701 245-8011 • fa-r (970) 245-8016 <br />May 18, 2001 <br />Kirby Cannel! and Bernie Lorimor <br />Rocky Mountain Steel, Inc. <br />P.O. Box 486 <br />Olathe, CO 8142 <br />Re: Bonding <br />Dear Kirby and Bernie: <br />Joy Harris sent me a copy of your year end financial statement from the <br />CPA to update our bond files. <br />I ~tanted to take a minute and congratulate you both on another <br />successful year of operations. Granted, economic times have sure been <br />good and the construction market has gone right along with that trend, <br />but construction is still a tough business with a lot of risk and exposure, <br />and you have found the ability to make good money and build a good <br />organization even with those difficult conditions to deal with. <br />In terms of bonding, you really have the ability to bond just about any <br />project that you want to undertake. Your company is very well set <br />financially and there is no real limitation on bonding capacity for all <br />practical purposes. The only limitation is the people, equipment and <br />plant capacity you have for any given job. <br />i would like a copy of a current personal balance sheet on each of you. <br />Last year you just gave me a copy of the personal statement you gave to <br />your bank, and that is certainly fine again this year. <br />Thanks again for your help an certainly for your business. We <br />appreciate it. Please feel free to call us if we can be of any service. <br />Sincerely, <br />c.~ <br />Barry N. lanchard <br />Durango <br />0970) 25¢6990 <br />Glenurood Springs <br />(970) 945-6203 <br />