REQUIRED FORM OF LETTER OF CREDIT
TO BE USED AS PERFORMANCE BOND UNDER
CHICAGO MERCANTILE EXCHANGE INC. RULE 930

Applicant:Amount:Expiry Date:
Name of Clearing MemberAddress
Dear Sir(s):We hereby establish, effective immediately, in your favor our Irrevocable Letter of Credit No.
which is available for payment upon presentation to us of your written demand for
payment containing the text of Exhibit I. Funds may be drawn under this Letter of Credit, fromtime to time, in one or more installments, in amounts not exceeding in the aggregate the amountspecified above.
Upon presentation to us of a demand for payment in conformity with the foregoing we will, nolater than the earlier of (i)hours after such presentation (or, if the time determinedby this clause (i) is a time other than during our regular business hours, then upon the opening ofbusiness on the next business day) or (ii) 12:00 noon on the next business day, irrevocably andwithout reserve or condition pay to you the full amount demanded by you in funds that areimmediately available to you. We agree that if, on the expiration date of this Letter of Credit,
this office is not open for business, this Letter of Credit will be duly honored if the specified
demand is presented by you within three (3) full banking days after this office is reopened forbusiness.
Payment hereunder shall be made regardless of: (a) any written or oral direction, request, noticeor other communication now or hereafter received by us from the Applicant or any other person
except you, including without limitation any communication regarding fraud, forgery, lack ofauthority or other defect not apparent on the face of the documents presented by you, but
excluding solely an effective written order issued otherwise than at our instance by a court ofcompetent jurisdiction which order is legally binding upon us and specifically orders us not tomake such payment; (b) the solvency, existence or condition, financial or other, of, or thependency of any proceeding under the Bankruptcy Code or the Securities Investor Protection Act
with respect to, the Applicant or any other person or property from whom or which we may beentitled to reimbursement for such payment; and (c) without limiting clause (b) above, whetherwe are in receipt of or expect to receive funds or other property as reimbursement in whole or inpart for such payment. We agree that we will not take any action to cause the issuance of anorder of any court relieving us of our obligation to make payment in accordance with the termsof this Letter of Credit. We agree (i) that the time set forth herein for payment of your demand(s)for payment is sufficient to enable us to examine such demand(s) with care so as to ascertain thaton their face(s) they appear to comply with the terms of this Letter of Credit, and (ii) that failure
to make any such payment within such time shall constitute dishonor of such demand(s)notwithstanding any provision of law or any custom or usage of trade that would otherwise
permit us to defer payment for a longer time without dishonor.
You shall not be bound by any written or oral agreement of any type between us and theApplicant or any other person relating to this credit, whether now or hereafter existing.
We hereby engage with you that your demand(s) for payment in conformity with the terms ofthis Letter of Credit will be duly honored as set forth above. All of your rights set forth above
shall inure to the benefit of your successors.
In this connection, in the event of a drawing made by a party other than the above
named beneficiary, such drawing must be accompanied by the following signed certification:"The undersigned does hereby certify that
operation of law to the beneficiary named in
Letter of Credit Number(drawer)
is the successor by(Name and City of Bank).

.

(Name and Title)"
All fees and other costs associated with the issuance of and any drawing(s) against this Letter ofCredit shall be for the account of the Applicant.
Except so far as otherwise expressly stated herein, this documentary credit is subject to the"Uniform Customs and Practices for Documentary Credits,” International Chamber ofCommerce, in effect on the date of issuance of this credit.
Yours faithfully,(Name of Issuing Bank)
By:
Title:

EXHIBIT I
DEMAND FOR PAYMENT
Re: Your Irrevocable Documentary Letterof Credit No:
Dated:
Gentlemen:
Demand is hereby made upon you for payment to us of $. This

demand is made under, and is subject to and governed by, your Irrevocable Documentary Letterof Credit No.

dated, 20

established by you in our favor for the account ofDATED:in the amount of $as Applicant.

, 20

Name of Clearing Member Firm
By
Title

March 2001
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