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Reception # 309172 Record Date 10/20/2014 2:08 PM
<br />Page: 1 of 7 RecFee: $41.00 DocFee: $0.00
<br />NANCY R. AMICK Rio BLANCO COUNTY, COLORADO
<br />111111111111111111111111111111111111111
<br />UNITED STATES
<br />DEPARTMENT OF THE INTERIOR
<br />BUREAU OF LAND MANAGEMENT
<br />Sodium Lease Renewal
<br />PART 1. LEASE RIGHTS GRANTED.
<br />M(gg31gZ1-
<br />Uf en rc -rrec r o Pra,+* - n -a y"—
<br />Serial Number
<br />COC- 0118326
<br />This lease renewal, entered into by and between the UNITED STATES OF AMERICA, through the Bureau of Land Management, hereinafter
<br />called lessor, and
<br />Natural Soda, Inc.
<br />3200 Rio Blanco Road 31
<br />Rifle, Colorado 81650
<br />hereinafter called lessee, is effective July 1, 2011, for a period of 10 years, with preferential right in the lessee to renew for successive periods of 10
<br />years under such terms and conditions as maybe prescribed by the Secretary of the Interior, unless otherwise provided by law at the expiration of
<br />any period, and provided that the sodium is being produced in paying quantities at the end of the 10 -year renewal period and, if renewed, at the end
<br />of each successive 10 -year period.
<br />Sec. 1. This lease is issued pursuant and subject to the terms and provisions of the Mineral Leasing Act of 1920, as amended and supplemented, 41
<br />Stat. 437, 30 U.S.C.181 -287, hereinafter referred to as the Act; and to the regulations and formal orders of the Secretary of the Interior which are
<br />now or hereafter in force, specifically including, but not limited to, 43 CFR 23 (to the same extent as if the operations under this lease were surface
<br />mining), 3500, and 3590, when not inconsistent with the express and specific provisions herein.
<br />Sec. 2. Lessor, in consideration of rents and royalties to be paid, and the conditions and covenants to be observed as herein set forth, hereby grants
<br />and leases to lessee the exclusive right and privilege to explore for, drill for, mine, extract, remove, beneficiate, concentrate, or otherwise process
<br />and dispose of the sodium deposits in the Saline Zone, hereinafter referred to as "leased deposits," in, upon, or under the following described lands:
<br />T. I S., R. 98 W., a P.M. .
<br />sec. 13, lots 9 to 24, inclusive;
<br />sec. 14, lots 5, and 9 to 23, inclusive;
<br />sec. 15, lots 1 to 13, inclusive;
<br />sec. 21, NE' /.NE' /,, S %NE!/,, NE' / +SW' /,, and SE %;
<br />sec. 22, lots 12 to 14, inclusive;
<br />containing 2,159.64 acres, more or less, together with the right to construct such works, buildings, plants, structures, equipment, and appliances and
<br />the right to use such on -lease rights -of -way which may be necessary and convenient in the exercise of the rights and privileges granted, subject to
<br />the conditions herein provided.
<br />Sec. 3. DEFINITIONS. The following definitions shall be used in the interpretation of this lease:
<br />(a) "Oil Shale" is a fine - grained sedimentary rock containing organic matter which was derived chiefly from aquatic organisms or waxy spores or
<br />pollen grains, which is only slightly soluble in ordinary petroleum solvents, and of which a large proportion is distillable into artificial petroleum.
<br />This term is applicable to any argillaceous, carbonate, or siliceous sedimentary rock which will yield oil upon destructive distillation. In this lease,
<br />"destructive distillation" means the process of decomposition of oil shale where heat is applied to a temperature at which the hydrocarbons are
<br />converted to vapors and/or liquids.
<br />(b) "Saline Zone" in this lease means the lower part of the Parachute Creek Member of the Green River Formation in the Piceance Creek Basin, the
<br />top of which zone is defined at any point by the characteristic "dissolution surface" and the bottom of which is defined at any point by the horizon
<br />marker designated as the "Blue Marker," which forms the approximate base of the Parachute Creek Member.
<br />(c) "Leased deposits" means (1) all sodium compounds and any related products thereof in the Saline Zone not intermingled with oil shale averaging
<br />25 gallons of shale oil or more per ton of rock mined (hereinafter referred to as " 25 g.p.t. oil shale), such average to be determined monthly for
<br />each calendar month by modified Fischer assays of the rock mined by lessee for processing or beneficiation by any method, and (2) all sodium
<br />compounds and any related products within the Saline Zone which are intermingled with 25 g.p.t. oil shale and which can be mined, extracted,
<br />processed, beneficiated, used, and disposed of without the destructive distillation of the 25 g.p.t. oil shale and without significantly changing the
<br />composition of the 25 g.p.t. oil shale or rendering it more unsuitable in any material respect for development, retorting, processing, use, or
<br />disposition. As used herein, the term "related products" shall, in no event, include oil shale.
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