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AApv- -25 -00 09:OOA
<br />i i i, • ti E LaVi t
<br />P_06
<br />THIS AGREEMENT is entered into this 12,6f day of April, 2000,
<br />between South Wind Land and Mining, L.L.C. ( "South Wind "), X2T,
<br />L.L.C. ( "K2T "), South Central Land and Mining, L.L.C. ( "South
<br />Central "), Energy Fuels Associates, Ltd. ( "Energy Fuels ,,), and
<br />Corley Mountain Ranch, Ltd. ( "Corley Mountain Ranch ").
<br />RECITALS
<br />1, south Wind, K2T, South Central, Energy Fuels, and Corley
<br />Mountain Ranch are parties to Civil Action No. 99 CV 97, now
<br />pending in Division 1 of the District court for Fremont County,
<br />Colorado entitled "South wind Land and Mining, L.L.C., a Colorado
<br />limited liability company; X2T, L.L.C., a Colorado limited
<br />liability company: and South Central Land and Mining, L.L.C., a
<br />Colorado limited liability company, plaintiffs, vs. Energy Fuels
<br />Associates, Ltd., a Colorado limited partnership, and Corley
<br />Mountain Ranch, Ltd., a Colorado corporation, Defendants" (the
<br />"Pending Action ").
<br />2. The parties to this Agreement, without the admission,
<br />implication, or inference of liability on any part, desire to
<br />compromise and settle the disputes among them that were asserted or
<br />could have been assorted in the Pending Action, subject only to the
<br />rights and duties created by this Agreement, the Special warranty
<br />Deed, and the Coal Mining Lease of even date between South Wind,
<br />X2T, and South Central as Lessors -and Energy Fuels as Lessee.
<br />AGREEMENT
<br />in consideration of the promises contained herein, IT IS
<br />AGREED as follows:
<br />1. RaY7neDt . Energy Fuels and Corley Mountal n Ranch will pay
<br />to South wind, KZT, and South Central the total sum of Four Hundred
<br />Fifty Thousand and N0/100 Dollars ($450,000.00) by means of
<br />Caahierla checks as follows:
<br />a. Conteemporancounly with the final execution and
<br />dolivery of thin Agreement and the Coal Mining
<br />Lease by South Wind, X2T, and South Central, Energy
<br />Fuels will pay to the respective orders of South
<br />Wind, X2T, and South Central the amount of
<br />$50,000.00 each;
<br />b. On or before September 20, 2000, Energy Fuels will
<br />Pay to the respective orders of South wind, R2T,
<br />and South Central the amount of $5o,000.00 each:
<br />and
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