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Jul 19 04 09:38a Randolph <br />07/18/2004 05:50 FAX 970 S90 1705 <br />Starr 970 669 3641 p.7 <br />FITTINGTON 181UU5 <br />STATE OF COLOIiA.DO <br />OSVf90N OF MINFRAt5AN0 GEAIOGY <br />Oe(af9nfmat Wnoat Rrnwmo6 <br />x313 Stffaman St., gown 215 <br />Deriver, Coterado 90203 <br />PAOne: 1303) 8663567 <br />FAY 130310328106 <br />FINANCIAL WARRANTY <br />LETTER O~CREDI7' <br />JLOt~AD <br />IN~.RAI <br />EO~OG <br />RUB Or+ens <br />Gavemor <br />Rvne9 Gewg <br />Etfearave Dllamor <br />EwuM W. paafy <br />Olvfbn Olnner <br />OpetatDr: ~ ~h~~~~~ ~~ ~ c-~~ wa.ofae,~ff.Tr~. <br />Operation: •~1 h~~~R,~l C'l,YU.Ui..~ ~ i~ <br />PermitND.: LY1- 1°19U-C)~lD <br />Back: ~ ~YhQA I Y'1 c` r~- ~ ~nn~ lSY\ <br />Street: J C ~ ,f:. Sr.~4lkiw <br />city: 1-•t~+ ~ ~,~ 1, v~.'~ <br />State: l ,(~~17Y[a,5``17 ZipCodc• `~~J~C~ <br />Atea Code: ~~''D Telephone: o~~ `~ ~D~P ~D <br />lhlafornt fmsbeen approved lrytheMinadland Reclamation Baardparsnant to saclions3~-32-I17, GR.S., <br />oJeheMlnedCand RedamationAct and 34,425117, GRS, ojthe Colorado LandRedamalion Aajorthe <br />Eztraetion oj.Cenairndlon Matsriaix Any alferatton or raadiJlemlon ofthis force, wiUiontopproval by the <br />Baaid shop result is the jlaoneeaf war-an~y befog fnvalld and resale en the vofding ojany permit isstta/ is <br />conjunction with swch in Valid fr~Eaneial warranty and sub~eetehe operotorro case and deristorders a~,ddvil <br />penalties jo. opfr-a(ing wrt&oat a permit pa-sermEt m sacdons 34-32-123, GR«S: of the Mined .Land <br />Reclamotron Ad and 34 32.5-123. C.RS., ojehe Colarndo Land Redaaratioe Act jor the Ecd+aedoa of <br />Conshvdion Matctrals. <br />KNOW ALL MEN BY THESE PRESL•NTS, TFiA?: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.9. 1973, 3432-101 $ sue. (the "Act"), as <br />amended, provides that no permit maybe issued ender then Act until the Mined Lurid Reclamation Boatel (the <br />°f3oard") roceives a Financial WartaEtty (ar Warranties) as described is the Act. <br />AS, ~7~ VI [Lt.nS ; }((f,~4 nc1_ (~t~lY.i3Q.i ~ -~ l r _ (the "operator'), a <br />~ lwrporat3an, has applied for a permit to oondecc a mining operation lonorvn as _ <br />L155Q 1L p 1~- (the "Operation"). on certain lands in LQ.Yi ~M£.~' <br />County. Colorado. These lands are dcscn'bod is the permit appdoalion, as amended and supplemented, and arc <br />IEfP.I[ed t0 hereto 84 the "AlfeCted I.mnda". <br />WHEREA3, as paROftheapplicauon fortheperrniytheOpaatorbas aglreed tobaboundbyallrequitetnents <br />oRra oI Dorn of Cafarado <br />Lninfd lard ikclama0on Apive and tfwclive MiapS Geologycal Survey <br />