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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Drnver, Colorado 80203 <br />Phone: (303) 866.3567 <br />FAX: (303) 832-8106 <br />RECEIVED <br />APR 0 9 2004 <br />Division of Minerals & Geology <br />U I M IN S ION O F <br />HIERALS <br />GEOLOGY <br />;?-CLAM AT I-- N <br />„IN?.V r•ia F??Y <br />3 al Owens <br />Cw• rnor <br />Greg E. Walther <br />E.ecutive Director <br />FINANCIAL WARRANTY <br />CERTIFICATION OF DEPOSIT <br />Michael S. Long <br />Director <br />Operator: Hollenbeck, Inc. <br />Operation: Hollenbeck Pit <br />Permit No.: M-s5-023 <br />Bank: Vectra Bank <br />Street: 1200 S. Townsend Ave. <br />City: Montrose <br />State: CO Zip Code: 81401 <br />Area Code: 970 Telephone: <br />249-6635 <br />KNOW ALL MEN BY THESE PRESENTS, THAT: <br />FAX: <br />. WHEREAS, the Colorado Mined Land Reclamation Act, C.R.S. 1973, 34-32-101, g;.=e. (the <br />"Act"), as amended, provides that no permit may be issued under the Act until the Mined Land Reclamation <br />Board (the "Board") receives a Financial Warranty (or Warranties) as described in the Act. <br />WHEREAS, Hollenbeck, Inc. (the "Operator), a <br />Colorado corporation, has applied for a permit to conduct a mining operation <br />known as Hollenbeck Pit (the "Operation"), on certain lands in <br />Gunnison County, Colorado. These lands are described in the permit. application, as <br />amended and supplemented, and are referred to herein as the "Affected Lands." <br />WHEREAS, in the application for the permit, the Operator has agreed to be bound by all <br />requirements of the Act and all applicable rules and regulations of the Board, as amended from time to time.