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<br />The Centennial <br />Street: 2700 4th Ave. <br />City: Greeley <br />State: Colorado <br />Area Code: (970) <br />RlCcpl <br />Jut i6b <br />M?nerB/S alld Geology <br />Beneficiary: <br />STATE OF COLORADO <br />MINED LAND RECLAMATION BOARD <br />215 CENTENNIAL BUILDING <br />1313 SHERMAN STREET <br />DENVER, COLORADO 80203 <br />Applicant: Platte Sand & Gravel, LLC <br />LETTER OF CREDIT NUMBER: <br />AmountU.S. $ 1, 123, 000. 00 ----------- <br />Date of Issuance: June 2 8, 2 0 0 6 <br />Initial Expiration Date: June 2 7. 2 0 0 7 <br />Street: -P.O. Box 712 <br />City: Littleton <br />State: Colorado Zip Code: 80160 <br />Area Code: (303) Telephone: 274-4474 <br />Gentlemen: <br />We hereby issue and establish our irrevocable letter of credit, the amount of which is available by beneficiary's draft or <br />drafts 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 <br />of Colorado statutes governing mined land reclamation and that Platte Sand & Gravel, LLC oritssuccessor <br />has neglected, failed, or refused to pay such amount although requested to do so by the Director. <br />CENTENNIAL <br />Bank of the West <br />IRREVOCABLE LETTER OF CREDIT <br />Bank of the West <br />Zip Code: 8 0 6 3 4 <br />Telephone: 4 5 4 - 4151 <br />-2-