Form 4-5bi - Corporate Indemnity Bond Of Issuer

Form 4-5BI

(Rev.11/16/1998)

Page 2 of 3

, that nothing herein shall be construed to make the total maximum

PROVIDED, ALWAYS

liability hereunder of Surety more than

regardless of

TWENTY-FIVE THOUSAND DOLLARS ($25,000)

the number of acts or transactions of the Agent(s) of Principal.

, if Principal truly reports to the Division the name and residential

PROVIDED, HOWEVER

address of each Agent appointed to offer to sell or sell securities of Principal, and the Agent(s) so

appointed comply fully with the Act and Rules promulgated thereunder, then this obligation will be

void, otherwise it will remain in full force and effect.

, that any person having a right of action under Section 61-1-22 of the

PROVIDED, FURTHER

Act, may initiate action in any court of competent jurisdiction against Principal, or Surety, or both

upon this bond. However, no action may be maintained to enforce any liability upon this bond unless

brought before the expiration of four years after the act or transaction constituting the violation or

the expiration of two years after the discovery by the plaintiff of the facts constituting the violation,

whichever expires first.

, that before any person may have a right of action against Principal,

PROVIDED, FURTHER

or Surety, or both upon this bond, and before the right of action exists or arises, the person must

within the period of four years after the act or transaction constituting the violation or the expiration

of two years after the discovery by the plaintiff of the facts constituting the violation, whichever

expires first, give to Surety and Principal written notice of claim upon this bond. It is hereby

stipulated and agreed that the giving of the notice of claim upon this bond within the period is a

condition precedent to a right of action against Principal, or Surety, or both upon this bond. Failure

to give notice of claim upon the bond renders the bond void and of no effect as to the person.

, that either the Principal or the Surety may cancel this bond in its

PROVIDED, FURTHER

entirety by giving sixty days written notice to the Utah Division of Securities at Salt Lake City, Utah,

by registered mail. If this bond is canceled by Surety, it must send a copy of the notice of cancellation

by registered mail to Principal. Upon cancellation no further obligation is incurred under this bond

after sixty days following the date of the mailing of the notice of cancellation. However, the liability

of Principal and Surety applies as to acts or transactions of Principal's Agent which occurred before

the effective date of the cancellation.

, the period for which this bond remains in force and effect, unless

PROVIDED, FURTHER

previously canceled, is the effective period of the registration statement of Principal. At the

expiration of the registration statement the bond ceases and terminates as to future acts and

transactions only.

Form 4-5bi - Corporate Indemnity Bond Of Issuer - 1998 Page 2