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7 i ? r r <br />elects not to extend the credit for such an additional period. In such event, in addition to his <br />power to draw hereon under the preceding paragraphs, the Director may draw the full or lessor <br />amount hereof at any time prior to such expiration date by sight draft, or drafts, accompanied <br />by the written statement of the Director certifying that the amount drawn will be held as a cash <br />deposit in lieu of financial warranty, as provided in applicable Colorado statutes governing <br />mined land and reclamation. <br />The original signed letter of credit will be presented to the Bank by the beneficiary along with <br />any draft presented pursuant to this letter of credit, and will be surrendered to the Bank with <br />any draft which draws the full amount, or the balance remaining available, under this letter of <br />credit. <br />If an expiration date specified herein shall fall upon a day other than a regular business day of <br />the Bank, the expiration date shall ipso facto be extended to the close of business on the next <br />successive business day of the Bank. <br />Sincerely <br />Mark Benes <br />Vice President <br />Western National Bank of Colorado