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<br />RECEIVED <br />MAR 2 4 2004 <br />Division of Minerals and Geology <br />IRREVOCABLE LETTER OF CREDIT <br />The <br />Street: <br />First State <br />1410 East Valley Hwy 26 <br />Bank-of Torrington, WY <br />City: <br />Torrington, <br />State: W Y <br />Area Code: 3 07 <br />Beneficiary: <br />STATE OF COLORADO <br />MINED LAND RECLAMATION BOARD <br />215 CENTENNIAL BUILDING <br />1313 SHERMAN STREET <br />DENVER, COLORADO 80203 <br />Zip Code: _ <br />Telephone: <br />82.240 <br />532-5600 <br />LETTER OF CREDIT NUMBER: 9 0 0 0 0 6 0 <br />Amount U.S. $ 4 0, 0 0 0 <br />Date of Issuance: 3-22-04 <br />Initial Expiration Date: 3- 2 2- 0 6 <br />Applicant: Killion Enterprises, LLC <br />Street: 862 Willox Lane <br />Citv: Fort Collins <br />State: co Zip Code: 8 0 5 2 4 <br />Area Code: 970 Telephone: 482-0358 <br />Gentlemen: <br />We hereby issue and establish our irrevocable letter of credit, the amount of which is available by beneficiary's draft or drafts <br />drawn upon us, which shall be paid at sight, when accompanied by the following document: <br />A written statement of the Director ("the Director") of the Division of Minerals and Geology of the State of Colorado <br />("the Division") certifying that he is a duly authorized official acting on behalf of the State of Colorado and that the <br />amount of the accompanying sight draft is due and payable to the State of Colorado pursuant to applicable provisions of <br />Colorado statutes governing m i n e d land reclamation and t h a t K i l l i o n Enterprises, L L C Companyoritss <br />successor has neglected, failed, or refused to pay such amount although requested to do so by the Director. <br />1410 East Valley Hwy. 26 • P.O. Box 1098 • Torrington, WY 82240 • (307) 532-5600 <br />Member FDIC • www.fsbwy.com