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inancial Institution: Rocky Mountain Bank and Trust, Florence
<br />101 East Main, P.O. Box 579, Florence, CO 81226
<br />4300
<br />I Account Name: Walter Pope "assigned to" State of Colorado/Mined Land Reclamation SSN/TIN: 521-38-4371
<br />Board
<br />r Account Number
<br />4300 Issue Date
<br />April 7, 1998 Deposit Amount
<br />$7,800.00 Term
<br />36 Months Maturity Date
<br />April 7, 2001
<br />Rate Information: This account is an interest bearing account. The interest rate on the account is 5.13% with an annual percentage yield of
<br />5.23%.
<br />The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect until April 7, 2001.
<br />Interest begins to accrue on the business day you deposit noncash items (for example
<br />checks)
<br />Interest will b
<br />dit
<br />,
<br />.
<br />e cre
<br />ed quarterly to your
<br />account #117560.
<br />Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to
<br />the principal in the account each day. We will use an interest accrual basis of 365 for each day in the year.
<br />Limitations: You must deposit $1,000.00 to open this account. You may not make additional deposits into this account. You may not make
<br />withdrawals from your account until the maturity date.
<br />Time Account Information: Your account will mature on April 7, 2001. If you withdraw any of the principal before the maturity date we may
<br />impose a penalty of FORFEIT AN AMOUNT EQUAL TO THREE MONTHS OF INTEREST EARNED, OR THAT COULD HAVE BEEN EARNED ON
<br />THE AMOUNT WITHDRAWN AT THE NOMINAL (SIMPLE INTEREST) RATE BEING PAID ON THE DEPOSIT, REGARDLESS OF THE LENGTH
<br />OF TIME THE FUNDS WITHDRAWN HAVE REMAINED ON DEPOSIT. If the account is closed before interest is credited, you will not receive the
<br />accrued interest. The annual percentage yield assumes interest compounds quarterly and will remain on deposit until maturity. A withdrawal will
<br />reduce earnings. This account will automatically renew. You will have 10 DAYS after the maturity date to withdraw funds without penalty.
<br />
<br />NOT TRANSFERABLE - NON NEGOTIABLE Signature and Title of Auth/) e financial Institution Signer
<br />TIME CERTIFICATE 0 (/DEPOSIT
<br />We appreciate your decision to open a time certificate of deposit account with us. This Agreement sets forth certain conditions, rates, and rules that
<br />are specific to your Account. Each signer acknowledges that the Account Holder named has placed on deposit with the Financial Institution the
<br />Deposit Amount indicated, and has agreed to keep the funds on deposit until the Maturity Date. As used in this Agreement, the words 'you", "your" or
<br />"yours" mean the Account Holder(s), the word "Account" means this Time Deposit Agreement Account and the word "Agreement" means this Time
<br />Certificate of Deposit Agreement, and the words "we", "us"and "our" mean the Financial Institution. This Account is effective as of the Issue Date and
<br />is valid as of the date we receive credit for noncash items (such as checks drawn on other financial institutions) deposited to open the Account.
<br />Deposits of foreign currency will be converted to U.S. funds as of the date of deposit and will be reflected as such on our records.
<br />ISSUE DATE. If you open a time certificate of deposit account with us after 3:00 PM on a business day that we are open, we will consider that the
<br />transaction was made at the opening of the next business day for issue date and effective date purposes.
<br />INTEREST RATE. The interest rate is the annual rate of interest paid on the Account which does not reflect compounding ("Interest Rate"), and is
<br />based upon the interest accrual basis described above.
<br />AUTOMATIC RENEWAL POLICY. If the Account will automatically renew as described above, the principal amount and all paid earned interest that
<br />has not been withdrawn will automatically renew on each Maturity Date for an identical period of time as the original deposit term. Interest on
<br />renewed accounts will be calculated at the interest rate then in effect for time deposits of that Deposit Amount and term. you wish to withdraw
<br />funds from your Account, you must notify us during the grace period after the Maturity Date.
<br />EARLY WITHDRAWAL PENALTY. You have agreed to keep the funds on deposit until the Maturity Date of your Account. Any withdrawal of all or
<br />part of the funds from your Account prior to maturity may result in an early withdrawal penalty. We will consider requests for early withdrawal and, if
<br />grapted, the penalty as specified above will apply.
<br />Minimum Required Penalty. If you withdraw money within six (6 days after the date of deposit, the Minimum Required Penalty is seven (7)
<br />days' simple interest on the withdrawn funds. If partial early withdrawai?Is) are permitted, we are required to impose the Minimum Required Penalty
<br />on the amount(s) withdrawn within six (6) days after each partial withdrawal. The early withdrawal penalty may be more than the Minimum Required
<br />Penalty. You pay the early withdrawal penalty by forfeiting part of the accrued interest on the Account. If your Account has not earned enough
<br />interest, or if the interest has been paid, we take the difference from the principal amount of your Account.
<br />Exceptions. We may let you withdraw money from your Account before the Maturity Date without an early withdrawal ppenalty: (1) when one
<br />or more of you dies or is determined legally incompetent by a court or other administrative body of competent Jurisdiction; or (2) when tfhie Account is
<br />an Individual Retirement Account (IRA) establised in accordance with 26 USC 408 and the money is paid within seven (7) days after the Account is
<br />opened; or (3) when the Account is a Keogh Plan (Ke h), if you forfeit at least the interest earned on the withdrawn funds; or (4) if the Account is
<br />an IRA or a Keogh Plan established pursuant to 26 USC 408 or 26 USC 401, when you reach age age 59 1/2 or become disabled; or (5) within an
<br />applicable grace period (if any).
<br />RIGHT OF SETOFF. Sub ect to applicable law, we may exercise our right of setoff or security interest against any and all of your Accounts (except
<br />IRA,, Keogh plan and Trusi! Accounts) without notice, for any liability or debt of any of you, whether joint or individual, whether direct or contingent,
<br />whether now or hereafter existing, and whether arising from overdrafts, endorsements, guarantees, loans, attachments, garnishments, levies,
<br />attorneys' fees, or other obligations. If the account is a joint or multiple-party account, each joint or multiple-party account holder authorizes us to
<br />exercise our right of setoff against any and all Accounts of each account holder.
<br />OTHER ACCOUNT RULES. The following rules also apply to the Account.
<br />Surrender of Instrument. We may require you to endorse and surrender this Agreement to us when you withdraw funds, transfer or close
<br />your Account. If you lose this Agreement, you agree to sign any affidavit of lost instrument, or other Agreement we may require, and agree to hold us
<br />harmless from liability, prior to our honoring your withdrawal or request.
<br />Death of Account Holder. Each Account Holder agrees to notify us immediately upon the death of any other Account Holder. You agree that
<br />we may hold the funds in your Account until we have received all required documentation and instructions.
<br />Indemnity. If you. ask us to follow instructions that we believe might expose us to any claim, liability or damages, we may refuse to follow your
<br />instructions or may require a bond or other protection, including your agreement to indemnify us.
<br />Pledge. You agree not to pledge your Account without our prior consent. You may not withdraw funds from your Account until all obligations
<br />secured by your Account are satisfied.
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