2000-11-17_REPORT - M1977205

• Permit No: M1977205
• IBM Index Class Name: Report
• Doc Date: 11/17/2000
• Doc Name: Annual Fee/Report Notice
• Permit Index Doc Type: ANNUAL FEE / REPORT
• Media Type: D
• Archive: No

A written statement of the Director ("the Director") of the Division of
Minerals and Geology of the State of Colorado ("tile Division") certifying that
he Is a duly authorized official acting on behalf of the State of Colorado and
that the amount of the accompanying sight draft is due and payable to the
State of Colorado pursuant to applicable provisions of Colorado statutes
governing mined land reclamation and that TRI COUNTY GRAVEL
Company or Its successor has neglected• failed, or refused to pay such am unt
although requested to do so by the Director.
Each sight draft so drawn and presented shall be honored by us if presented prl.)r
to the close of business on the expiration date of this letter of credit. This
credit refers to TRI COUNTY GRAVEL company's application for a perm- t
to engage in mining and reclamation activities within the State of Colorado.
It Is an express condition of this letter of credit that it shall be automatically
extended for successive additional periods of one year each, from the initial and
each future expiration date unless the FIRST STATE Bank
of IOTCHKISS ("the Bank") shall notify the Director at least 90
days prior to an expiration date In writing by registered mail , at the above
address, that the Bank elects not to extend the credit for such additional period.
In such event, in addition to his power to draw hereon under the preceding
paragraphs, the Director may draw the full or any lesser amount hereof at any time
prior to such expiration date by sight draft, or drafts , accompanied by the wiilten
statement of the Director certifying that the amount drawn will be held as a cash
deposit in lieu of financial warranty, as provided in applicable Colorado statutes
governing mined land and reclamation.
The original signed letter of credit will be presented to the Bank by the
beneficiary along with any draft presented pursuant to this letter of credit, and
will be surrendered to the Bank with any draft which draws the full amount , or the
balance remaining available, under this letter of credit.
If any expiration date specified herein shall fall upon a day other than a regular
business day of the Bank, the expiration date shall ipso facto be extended to the
close of business on the next successive business day of the Bank.
The FIRST STATE Bank of HOTCHKISS
ByZ sLo Date Od O
A thorized 'signature LENVA 1. UbOLFOS, SR. V.r.
NOTES: 1 . The Letter of Credit shall not be in excess of 10 percent of the
bank' s capital surplus account or in excess of 30 percent if the
applicant has more than one Letter of Credit for different permits .
To demonstrate this requirement, the issuing bank should provid•, a
balance sheet certified by a Certified Public Accountant.
Generally, this Is available in the Bank' s most recent Annual Report
or Call Report.
2. The Letter of Credit shall be submitted on the Bank' s letterhead .
(05/95)
0868F