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STATE OF COLOMDO <br />DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 <br />FAX: (303) 832-8106 ?p <br />May 20, 2010 <br />Pueblo Bank & Trust Company <br />301 W. 5t` Street <br />Pueblo, CO 81003 <br />COLORADO <br />DIVISION OF <br />RECLAMATION <br />MINING <br />SAFETY <br />-gyp v I p hi sss <br />RE: Edward M. Yaklich, Letter of Credit No. 396 for $5,000.00, <br />Shangri La Pit, Permit Number M-1989-024,---- <br />To Whom It May Concern: <br />In accordance with the attached Irrevocable Standby Letter of Credit No. <br />Bill Ritter, Jr. <br />Governor <br />James B. Martin <br />Executive Director <br />Loretta E. Piiieda <br />Director <br />"The Director of the Division of Reclamation, Mining and Safety of the State of Colorado certifying that the <br />Director is a duly authorized official acting on behalf of the State of Colorado and that the amount of the <br />accompanying sight draft is due and payable to the State of Colorado pursuant to applicable provisions of <br />Colorado statutes governing mined land reclamation and that Edward M. Yaklich or its successor has neglected, <br />failed, or refused to pay such amount although requested to do so by the Director." <br />"The original signed letter of credit and any amendments will be presented to the Bank by the beneficiary along <br />with any draft presented pursuant to this letter of credit, and will be surrendered to the Bank with any draft which <br />draws the full amount, or the balance remaining available, under this letter of credit. Delivery of the original <br />letter of credit, sight draft(s) and all other documents required as a condition precedent for payment, may be made <br />by overnight courier to the Bank. Each payment on a draft shall reduce the aggregate above written amount by <br />the amount drawn." <br />If you have any questions, please contact me or Elizabeth Merry at (303) 866-3567 ext. 8148. <br />Sincerely, <br />Loretta E. Pineda, Director <br />Division of Reclamation, Mining and Safety <br />Mined Land Reclamation Board <br />State of Colorado <br />State of Colorado ) <br />County of Denver ) ss <br />?A%f EL <br />y IVO c?Jy, <br />m' C <br />The foregoing instrument was acknowledged before me this 2 DiL- day of <br />2 tO 0 by. Z or-c.46,_ R)i-e d o, as ' 11 <br />l7i(Lc(1?/ ? mc?ib?.? F'tiy) i olc(s-'u(A{,_ <br />of the Division of 1 -._?Is-attd E3 el ined 7 <br />Land Reclamation Board. <br />Notary P??lic <br />My Commission Expires: 160/31 <br />Office of <br />Mined Land Reclamation Denver Grand Junction Durango Office of <br />Active and Inactive Mines <br />A