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SURFACE USE AND SUBSIDENCE AGREEMENT <br />THIS SURFACE USE AND SUBSIDENCE AGREEMENT (the "Agreement"), dated <br />effective the 15` day of August 2015, is by and between ASHLEY INVESTMENT, LLC, a <br />Colorado limited liability company, with an address of 625 Second Street, Helena, Montana <br />59601 (hereinafter referred to as "Surface Owner"), and TWENTYMILE COAL LLC, a <br />Delaware limited liability company, with an address at 29515 Routt County Road #27, Oak <br />Creek, Colorado 80467 (hereinafter referred to as "Twentymile"). <br />WITNESSETH: <br />THAT, WHEREAS, Surface Owner is the owner of those certain lands (the "Lands") <br />located in Routt County, Colorado, being more particularly described in Exhibit "A" attached <br />hereto and by this reference made a part hereof; and <br />WHEREAS, Twentymile owns a portion of the fee coal and the coal mining rights <br />underlying the Lands; and Twentymile controls a portion of the coal under State of Colorado <br />Coal Mining Lease No. CO -3229 (the "State Lease") covering the mining rights to all coal seams <br />lying beneath a portion of the surface of the Lands, including the right to prospect for, mune and <br />remove said coal seams in accordance with the State Lease; and <br />WHEREAS, in order to protect Surface Owner's surface rights and Twentymile's rights <br />under the State Lease, the parties hereby mutually agree to the following terms and conditions: <br />1. Demise. Surface Owner, for and in consideration of the covenants, conditions and <br />obligations hereinafter contained, and other good and valuable consideration, <br />receipt and sufficiency of which are hereby acknowledged, does hereby grant u <br />Twentymile the rights and privileges set forth herein, together with the right <br />privilege to enter upon and through the Lands for the tern and purposes and upon <br />conditions and provisions herein set forth. <br />2. Term. The primary tern of this Agreement shall be for a period of ten (10) years <br />shall commence on the 1st day of August 2015; however, Twentymile shall have <br />right to request renewal of this Agreement for one (1) additional ten (10) year tc <br />upon the terms and conditions to be mutually agreed to in writing between the pa <br />on or before the expiration of the primary term, by providing Surface Owner wrtrr <br />written notice of its intention to extend this Agreement within ninety (90) days prior <br />to the expiration of the primary term. <br />3. Compensation. <br />a. Twentymile agrees to pay Surface Owner the sum of One Hundred Dollars <br />($100.00) per acre on or before the effective date of this Agreement as initial <br />consideration for the rights and privileges granted herein to Twentymile, <br />including, but not limited to, the right to subside and repair the Lands as described <br />