_PERMIT FILE - M1977053

• Permit No: M1977053
• IBM Index Class Name: Permit File
• Doc Name: ASSIGNMENT OF CD
• Media Type: D
• Archive: No

( 1.I-� � • • III IIIIIIIIIIIII III
999
ASSIGNMENT OF CERTIFICATE OF DEPOSIT
Powell Construction Co. , Box 179 , Fort Garland, Colorado, hereby
assigns , transfers , and sets over to the Mined Land Reclamation Board O o
RG{u rne)
of the State of Colorado, all its right and title in and to, except as here-
inafter set forth, Certificate of Deposit with the Alamosa National Bank,
Alamosa, Colorado, in the amount of $2,500.00 dated the 16th day �yl A
Of August , 1977 , number 1541 , and authorizing the Mined Reclamation
Board of the State of Colorado, in its name or otherwise, at its own expense
and charge, to enforce said Certificate of Deposit according to the terms and
conditions therein set forth, and to take all measures that may be proper or
necessary for complete recovery and enjoyment of all rights incident therunto
belonging; except in reserving to Powell Construction Co. the rights to any
and all interest when the same may become due and payable .
Powell Construction Co. furthergrants to the Mined Land Reclamation
Board, upon expiration of the term of the above described Certificate of
Deposit, the renewal of the same for an additional one year periods , at
prevailing interest rates, unless substituted by a performance bond accept-
able to the Mined Land Reclamation Board .
Powell Construction Co. makes this assignment of the above described
Certificate of Deposit as security for its faithful performance of all require-
ments set forth in its permit for mining operation to be granted by the Mined
Reclamation Board upon acceptance of this Assignment of Certificate of Deposit
and this assignment shall remain in effect until substituted by an acceptable
performance bond or until the affected land, as described in the mining permit,
has been reclaimed, approved, and released by the Mined Land Reclamation
Board. At the time, the above described Certificate of Deposit shall be
reassigned to Pioneer Sand Company, Inc.
The Alamosa National Bank of Alamosa, Colorado, hereby promises that
no request to withdraw funds from Certificate of Deposit number 1541 will
be honored by it without prior notice to and approval of the Mined Land Recla-
mation Board until the Board notifies the Alamosa National Bank it no longer
claims an interest in these funds .