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34 <br /> FOR INTERNAL IDENTIFICATION <br /> PURPOSES ONLY <br /> Applicant <br /> IRREVOCABLE LETTER OF CREDIT NO. <br /> TO: The Travelers Indemnity Company(Beneficiary) <br /> Credit Risk Management <br /> Attn: R. Thomas Coffey <br /> One Tower Square, GS05 <br /> Hartford, CT 06183 <br /> We hereby establish this clean irrevocable Letter of Credit in favor of the aforesaid <br /> addressee ("Beneficiary") for drawings up to United States $300,000.00 effective <br /> immediately. This Letter of Credit is issued,presentable and payable at our office at <br /> (issuing bank's address) and expires with our close of business on <br /> , 20 . After the Letter of Credit has been issued, it cannot be <br /> revoked or reduced without the consent of the Beneficiary. <br /> The term"Beneficiary" includes any successor by operation of law of the named <br /> Beneficiary including, without limitation, any liquidator, rehabilitator, receiver or <br /> conservator. <br /> We hereby undertake to promptly honor your sight draft(s) drawn on us, indicating our <br /> Credit No. , for all or any part of this Credit if presented at our office specified <br /> in paragraph one on or before the expiry date or any automatically extended expiry date. <br /> If you so choose, you will be able to draw on this Letter of Credit more than once, so <br /> long as the sum of the amounts which you have drawn does not exceed the full amount of <br /> the Letter of Credit. Any charges due and owing to the issuing bank from the account <br /> party or any other person or to the account party or any other person from the issuing <br /> bank may not be collected or deducted from the proceeds of the Letter of Credit. <br /> This Letter of Credit sets forth in full the terms of our undertaking, and such undertaking <br /> shall not in any way be modified, amended or amplified by reference to any note, <br /> document, instrument or agreement referred to herein or in which this Letter of Credit is <br /> referred to or to which this Letter of Credit relates and any such reference shall not be <br /> deemed to be incorporated herein by reference. The obligation of(issuing bank)under <br /> this Letter of Credit is the individual obligation of(issuing bank), and is in no way <br /> contingent upon reimbursement with respect thereto. <br /> It is a condition of this Letter of Credit that it is deemed to be automatically extended <br /> without amendment for one year from the expiry date hereof, or any future expiration <br /> date, unless 90 days prior to any expiration date we notify you by registered mail, or <br /> overnight courier that we elect not to consider this Letter of Credit renewed for any such <br /> additional period. In that event,you may draw hereunder on or prior to the then relevant <br /> expiration date, up to the <br />