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ERTIFICATE OF TIME DEPOSIT -NON-NEGOTIABLE AND NON-TRANSFERABLE NUMBER CERTIFICATE 20005 <br />ISSUED TO NAME(S) AND ADDRESS(ES) OF DEPOSITOR(S) ("you, your") NAME AND ADDRESS OF ISSUERIFINANCIAL INSTITUTION ("we, us") <br />ed R Hub Family Trus <br />sS? c Spa oColorad'Q ML'RVj' THE FIRST NATIONAL BANK OF DURANGO <br />MAIN OFFICE <br />C O Div of Minerals & Geology PO BOX L <br />1313 Sherman St Rm 215 DURANGO, CO 81302 <br />Denver CO 80302 Q 1000 L4CX)J I <br />S.S. #1T.I.N. ISSUE DATE MATURITY DATE X AUTOMATICALLY RENEWABLE TERM N ERTIFICATE <br />336-10-1853 1 12/12/00 12/12/01 1 1 1 SINGLE MATURITY 12 MONTH , 7 0 <br />IN THE AMOUNT OF Four thousand seven hundred & no/100 40YOj -'W -1 bl&FIS <br />l <br />INTEREST RATE. The deposit evidenced by this Certificate will earn an annual interest rate of 6 . 0 0 0 % Annual Percelt Yield 11.1 % <br />Interest Payment Frequency quarterly which will be FX_1 credited to account number 58319 paid to depositoi'Nccheck added to <br />principal of this Certificate. .-191T <br />Interest will be calculated on a basis of x? 365 days ? Other . Interest will be compounded daily dC,e " <br />EARLY WITHDRAWAL PENALTY: 90 Days Interest on the amount withdrawn ?9p <br />Grace Period ? business ? calendar days. <br />If this is an automatically renewable certificate which is withdrawn during the grace period, the interest rate for the grace perio III be x? <br />rate of interest that would have been paid on this Certificate if renewed. ! ob n i , /?? <br />AUTHORIZED SIGNATURE <br />OWNERSHIP OF ACCOUNT AND RIGHTS AT DEATH (Consumer) (Select One <br />? Single Party ? Single Party with Pay on Death ? Multi-Party with Right of Survivorship <br />? Multi-Party without Right of Survivorship ? Multi-Party with Right of Survivorship and Pay on Death <br />If account has a Pay on Death feature, name beneficiary0es): <br />OWNERSHIP OF ACCOUNT (Business): <br />% ? the same <br />R.ibi-10 qLms <br />? Sole Proprietorship ? Partnership ? Corporation ? Limited Liability Company <br />Other <br />Trust <br />TERMS AND CONDITIONS <br />1. GENERAL TERMS. Words or phrases preceded by a ? us applicable only if the ? is marked. Phrases containing a Monk space which is not filled in or completed with an NIA ere not applicable. As used in the Terms and Conditions, the words "Certificate" and <br />"account" refer to this Certificate of Time Deposit. <br />2. PAYMENT AT MATURITY. The deposit is payable upon presentation of this Certificate on a maturity date. If this is a multi-party account, payment is subject to the terns discussed in paragraph 3 below. <br />3. SINGLE AND MULTIPARTY ACCOUNTS. If the Certificate is noted as e single party account, at the death of the individual, the ownership of the funds remaining in the account will pan to the irxsvidual's estate. If the Certificate is noted as + single party with <br />pay an death account, upon the death of the party, ownership passes to the pay on death beneficiary(ies) and will not be part of the deceased party's estate. If the Certificate has a "pay an bath" designation, the Depositor may charge the named beneficiary at <br />any time. If the Certificate is designated as a wal6party account, the parties own the account in proportion to net contributions union there is clear and convincing evidence of a different intent. If the Certificate is designated as a natti-party with right of <br />s u nlvership, upon the death of one of the parties to the account ownership passes to the surviving ful"ies) sa his or her separate property and estate. Upon the death of the last party of a waft1perty account ownership of the proceeds of the account panes <br />over to the deceased party's estate. If the Certificate is designated as a naRFparty witheat right of s nvlvwship, upon death of party, the deceased party's ownership interest peens as part of the deceased party's estate. If the Certificate is designated as <br />a satd-party with sight of servleenhlp and pay as bath, upon the death of the last surviving party, ownership pares to the pay on death berofrciarylies) and is not put of the lag surviving parry's estate. In the can of a Certificate where more than one <br />beneficiary is named an the account the beneficiaries shall share equally in the funds of the account The Financial Institution is under no obligation to pemdt withdrawals by anyone other it= the person(s) described above. <br />4. INTEREST. The Certificate bean simple interest at the rate and basis set forth on the foci of the Certificate. Interest will not be compounded unless called for on the face of the Certificate. Interest will be paid according to the payment frequency set forth an the face <br />of the Certificate and in the manner indicated on the face. Withdrawal of interest prior to maturity will effect the around percentage yield. For any renewals of the Certificate, interest will be paid at the rate then in effect at the Financial Institution for smtdar deposits <br />and sty such renewals will he tar a time period equal to the original term and subject to these terms and conditions. Except for my Grace Period discussed in paragraphs S and 10, no interest will be paid on a deposit after the Maturity Date. <br />5. TRANSFERABILITY. No right in, or fide to the deposit on the Certificate is transferable, except on the books of the Financial Institution. <br />8. GOVERNING LAWS. All terns of this Certificate are subject to the applicable present and future paws end regulations of this State and of the United States or any agency or lestrurrontality of this State and of the United States, and all rides, regulations and practices <br />now or hereafter adopted by the Financial Institution with respect to this Certificate. <br />7. WITHDRAWAL PRIOR TO MATURITY. Depositor has contracted to keep the furls evidenced by this Certificate on deposit train the law Dote until the Maturity Date of this Certificate. Acceptance of a request by Depositor for + withdrawal of same or all of the <br />furls prior to On Maturity Date is at the discretion of the Financial Institution. <br />S. EARLY WITHDRAWAL PENALTIES. If the Financial Institution allows a withdrawal, either pertial or total, each lima it snows such a withdrawal, Depositor will he assessed an early withdrewd penalty as set forth on the face of this Certificate. In no event shall such <br />penalty he lost than seven (7) days simple interest on the certificate amount. <br />9. AUTOMATICALLY RENEWABLE CERTIFICATES renew automatically on the Maturity Oats. If the deposit is withdrawn during the Grace Period set forth an the face of this Certificate, the Financial Institution will not charge an early withdrawd penalty. Interest paid <br />an the deposit until withdrawal during the Grace Period shall be that Grace Period interest described on the face of this Certificate. <br />10. SINGLE MATURITY CERTIFICATES are not automatically renewable and mature on the Maturity Date set forth on the face of this Certificate. No interest will be paid on the deposit titer maturity unless Depositor renews the Certificate during the Grace Period set <br />forth on the face of this Certificate. In that event, the Certificate will be renewed as of the Maturity Date or any new Maturity Date(s) resulting from a renewal. <br />ITEM 578COL1 (8810) (7388) Page 1 of 2 ® Copyright Compliance Systems, Inc. 1991, 1996, 1997, 1998