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STATE OF COLORADO <br />DMSION OF RECLAMATION. MINING AND SAFETY ~~ <br />Department of Natural Resources <br />73135hennan St., ROWn 2t5 RE COLORADO <br />Denver, Colorado 80203 GEIVED D i v r s r o N O r <br />RECLAMATION <br />phone: e3m1866.3567 <br />fA%: 1303)832A706 'JUN 07 <br />'~ 2007 ~/ MINING <br />E <br /> ~ SAF <br />TY <br /> Division e) t;eGarr~ation, <br /> Mining and Safety Bdl Ovens <br /> FINANCIAL WARRANTY ~ G0V0n1Of <br /> <br />LETTER OF CREDIT Russell George <br />executive Director <br /> Ronaltl W. Cottony <br /> Division Director <br /> Natural Resource Trustee <br />Operator: Nike Bennett Y- <br />Opetation: Bennett Pit <br />Permit No.: N-2007-021 f <br />Berik: First Pioneer National Bank <br />Street: 150 S. Interocean <br />City: Holyoke . <br /> <br />State: Colorado Zip Code: 80734 <br />Area Code; 970 ~ Telephone: 854-2227 <br />This form has been approved by the Mined Land Reclamation Board pursuant to sections 34-32-117, C.R.S., <br />ojthe Mined Land Reclamation Act and 34-32.5-117, C.R.S, ojthe Colorado Land Reclamation Act for the <br />Extraction of Construction Materials. Any alteration or modification ojthis form, without approval by the <br />Board shat! result in the financial warranty being invalid and result in the voiding ojany permit issued in <br />eonjunctlon with such invalid financial warranty and subject the operator to cease and desist orders and civil <br />penalties for operating without a permit pursuant to sections 34-31-123, C.R.S., of the Mined Land <br />Reclamation Act and 34-31.5-113, C.R.S., of the Colorado Land Reclama8on Ad jar the Extraction of <br />Construction Materials. <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S. 1973, 3432-101 et ~. (the "Act"), as <br />amended, provides that no permil may be issued under the Act until the Mined Land Reclamation Boazd (the <br />"Board") receives a Financial Warranty (or Warranties) as described in the Act. <br />WHEREAS, Bike Bennett (the "Operator"), an <br />individual corporation, has applied for a permit to conduct a mining <br />operation known as the Bennett Pit (the "Operation"), on certain lands in <br />Yuma County, Colorado. These lands are described in the permit application, as amended <br />and supplemented, and are referred to herein as the "Affected Lands". <br />Office d Offim of <br />Mined Land Ralarutlon Alive and Inactive Mines <br />