2009-02-05_REVISION - M1977205 (9)

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Wells Fargo Bank, N.A. Trade Services Division, Northern California One Front Street, 21St Floor San Francisco, California 94111 1 800 798 2815 option 1 IRREVOCABLE LETTER OF CREDIT Letter of Credit Number Date of Issuance: Initial Expiration Date: Amount: March 6, 2008 February 27, 2009 Two Hundred Sixty Nine Thousand Eight Hundred Sixty Two and 00/100 Dollars (US$269,862.00) Beneficiary: State of Colorado Mined Land Reclamation Board 215 Centennial Bldg. 1313 Sherman Street Denver, CO 80203 Warranty for: Tri County Gravel (Operator's Name) Permit No.: M-1977-205 County of Operation: Delta Ladies and Gentlemen: United States Applicant: Oldcastle SW Group, Inc. dba United Companies of Mesa County 2273 River Road Grand Junction, CO 80505 Ph: 970 243 4900 We hereby issue and establish our Irrevocable Letter of Credit, the amount of which is available by beneficiary's draft or drafts drawn upon us, which shall be paid at sight, when accompanied by the following document: A written statement of the Director (the "Director") of the Division of Reclamation, Mining and Safety of the State of Colorado (the "Division") certifying that he is a duly authorized official acting on behalf of the State of Colorado and that the amount of the accompanying sight draft is due and payable to the State of Colorado pursuant to applicable provisions of Colorado statutes governing mined land reclamation and that Tri County Gravel or its successor has neglected, failed, or refused to pay such amount although requested to do so by the Director." Each sight draft so drawn and presented shall be honored by us if presented prior to the close of business on the expiration date of this Letter of Credit.: This Letter of Credit refers to Tri County Gravel (Operator's Name) application for a permit to engage in mining and reclamation activities within the State of Colorado. It is an express condition of this Letter of Credit that it shall be automatically extended for successive additional periods of one year each, from the initial and each future expiration date unless Wells Fargo Bank, N.A. ("the Bank") shall notify the Director at least 90 days prior to an expiration date in writing by registered mail at the above address, that the Bank elects not to extend the credit for such additional period. In such event, in addition to his power to draw hereon under the preceding paragraph;; the Director may draw the full or any lesser amount hereof at any time prior to such expiration date by sight draft, or drafts, accompanied by the written statement of the Director certifying that the amount drawn will be held as a cash deposit in lieu of financial warranty, as provided in applicable Colorado statutes governing mined land and reclamation. The original signed Letter of Credit and any amendments will be presented to the Bank by the beneficiary along with any draft presented pursuant to this Letter of Credit, and will be surrendered to the Bank with any draft which draws the full amount, or the balance remaining available, under this Letter of Credit. Delivery of the original Letter of Credit, sight draft(s) and all other documents required as a condition precedent for payment, may be made by overnight courier to the Bank. Each payment on a draft shall reduce the aggregate above written amount by the amount drawn. RECEIVED . MAR 0 7 2008 Division of Reclamation, Mining and Safety Page t of 2