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<br /> <br />M -1Q7 7 - 006- <br />FIRST STATE BANK OF HOTCHKISS <br />John R. McCallister <br />President <br />REVISION NO. 1 <br />IRREVOCABLE LETTER OF CREDIT <br />The First State Bank of Hotchkiss <br />P. 0. Box 38 <br />Hotchkiss, Colorado 81419 <br />Phone No: (970) 872-3111 <br />Beneficiary: <br />STATE OF COLORADO <br />DIVISION OF MINERALS & GEOLOGY <br />215 CENTENNIAL BUILDING <br />1313 SHERMAN STREET <br />DENVER, COLORADO 80203 <br />Applicant: Tri County Gravel <br />Street: P. O. Box 566 <br />City: Hotchkiss <br />State: Colorado <br />Area Code: 970 <br />File No: M1977-205 <br />Gentlemen: <br />P.O. Box 38 <br />Hotchkiss, CO 81419 <br />Tel. 970-872-3111 <br />1-888-921-7334 <br />MAY 0 9 2005 <br />Division of Knerals & Geology <br />LETTER OF CREDIT NUMBER 146 <br />Amount U.S.: Increased from $33,151.00 to <br />$33,246.00 <br />Date of Issuance: May 10, 2000 <br />Initial Expiration Date: May 10, 2005 <br />extended to May 10, 2006 <br />Zip Code: 81419 <br />Phone No: 872-3545 <br />County of Operation: Delta <br />We hereby issue and establish our irrevocable letter of credit, the amount of which is available <br />by beneficiary's draft or drafts drawn upon us, which shall be paid at sight when accompanied by <br />the following document: