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LaSalle Bank <br />-•-s, <br />M®mber ABN AMRO Giroup <br />It is an express condition of this letter of credit that it shall be automatically extended for <br />successive additional periods of one year each, from the initial and each future expiration <br />date unless LaSalle Bank N.A. ("the Bank") shall notify the Director at least 90 days <br />prior to an expiration date in writing by registered mail, at the above address, that the <br />Bank elects not to extend the credit for such additional period. In such event, in addition <br />to his power to draw hereon under the preceding paragraphs, the Director may draw the <br />full or any lesser amount hereof at any time prior to such expiration date by sight draft, or <br />drafts, accompanied by the written statement of the Director certifying that the amount <br />drawn will be held as a cash deposit in lieu of financial warranty, as provided in <br />applicable Colorado statutes governing mined land and reclamation. <br />The original signed letter of credit will be presented to the Bank by the beneficiary along <br />with any draft presented pursuant to this letter of credit, and will be surrendered to the <br />Bank with any draft which draws the full amount, or the balance remaining available, <br />under this letter of credit. <br />If any expiration date specified herein shall fall upon a day other than a regular business <br />day of the Bank, the expiration date shall ipso facto be extended to the close of business <br />on the next successive business day of the Bank. <br />LaSalle Bank N.A. <br />By: ,u.~,e ~ Cd ~. <br />Authorized7,S-ignat n <br />BY~ ~~ ~/` ~!~ CS <br />Authorized Si a e <br />Date: ~~ (~ ~ <br />Date: <br />~,~-~~ <br />