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~ First I`[ational Bank of Pueblo <br />1419 highway 50 West Pueblo, CO 81008 <br />IRREVOCABLE LETTER OF CREDIT <br />~~~~~~® <br />MAR 2 8 2008 <br />Division o. Recl4mation, <br />Mining and Safety <br />The F; rat N~iti onal Bank of pl~Pbl o <br />Street: 1 41 9 Hw~i 5 0 Wes t <br />City: Pueblo <br />State: Colorado Zip Coder 81 008 <br />Area Code: (71 91 Telephone: X 4 4- 2 2 6 5 <br />Beneficiary: <br />STATE OF COLORADO <br />MINED LAND RECLAMATION BOARD <br />215 CENTENNIAL BUILDING <br />.1313 SHERMAN STRE'sET <br />DENVER, COLORADO 80203 <br />LETTER OF CREDIT NUMBER: 5 0 <br />Amount U.S. $ 4 5, 4 7 8.0 0 <br />Date of Issuance: 3- 2 0- 2 0 0 8 <br />Initial Expiration Date: 3- 2 0- 2 0 0 9 <br />Rocklbottom, LLC <br />Applicant: <br />Street: 8 0 3 l? S t r ee t <br />City: Salida <br />State: _ Colo~_ado ____ -Zip Cade: __ 81 ?_ 01 <br />Area Code: (71 9 p _ - ----- <br />_...._____-...__ __..-...._~_...----------------....____....__ Telephone: ~._3 7 .? - 3 5 9 6 <br />Gentlemen: <br />We hereby issue and establish our irrevocable letter of credit, the amount of which ~S avaiIable by beneficiary's drat[ or drafts <br />drawn upon us, which shall be paid at sight, when accompanied by the fol.iowing document: <br />A written statement of the Director ("the Director"} ofthe Division of Reclamation; Mining and Safety of the State of <br />Colorado ("the Division")certifying that he is a duly authorized official acting on behalf of the State ofColorado and <br />that the amount of the accompanying sight draft is due and payable to the State of CColorado ursuan.t to applicable <br />provisions of Colorado statutes governrng mined land reclamation and t:ha:t.-- Rockbott~m, LLC _ ___ or its <br />successor teas neglected, failed, or refused to pay such amount although requested to do so by the 1)irecti~r. <br />719-544-:2265 www.fnbbankpueblo.com Fax 719-544-1199 <br />