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MEMORANDUM AGREEMENT FOR <br />•_ .t .D PROPERTY <br />Made as of theTt�day of . Nov. 1995 ('Agreement Datel, GARVEYY A Go. a Colorado <br />Qsaral Partnership. ('Lessor'), with address at PA- BOX 413. 25501 AA ROAD NUCI A- = <br />81424for good and valuable consideration, the sufficiency and receipt of which is hereby <br />acknowledged by Lessor, hereby trades with Western Fuels -Colorado, LLC (Lessee) the surface <br />lands described In section 2, and hereby leases to the Lessee the coal mineral deposits (Leased <br />Coal or Coal) located in, on and under the following property (Parcel A): <br />LOT 4 OF SECTION 6, T46N, R15W, N.M.P.M., AND THAT TRACT OF LAND DESCRIBED AS <br />BEGINNING AT THE NW CORNER OF LOT 5, SECTION 6, TOWNSHIP 46 NORTH, RANGE 15 <br />WEST OF THE N.M.P.M., THENCE SOUTH 127 FEET, THENCE IN A NORTHEASTERLY <br />DIRECTION 417 FEET TO A POINT 400 FEET EAST OF SAID NORTHWEST CORNER OF LOT <br />5, THENCE WEST 400 FEET TO THE POINT OF BEGINNING. COUNTY OF MONTROSE, STATE <br />OF COLORADO. <br />containing 52 acres, more or less, with all of the rights (Rights) to conduct mining activities as <br />described in Section 4 of the Lease. <br />BY The Lease, LESSOR INTENDS TO LEASE TO LESSEE ALL OF LESSOR'S RIGHT, <br />TITLE AND INTEREST IN THE LEASED COAL IN, ON OR UNDER PARCEL A, AND TO TRADE <br />CERTAIN REAL PROPERTY, UPON THE TERMS AND CONDITIONS STATED HEREIN. <br />1. Tem, of Lease- The Lease shall be in effect for twenty (20) years commencing on <br />the Lease Date stated above and for so long thereafter as: (1) coal is produced in commercial <br />quantities from the Leased Coal, or (2) Parcel A is being reclaimed per the requirements of the <br />mining permit covering the Property issued by the Colorado Division of Minerals and Geology, Office <br />of Mined Land Reclamation. <br />Notwithstanding any other provisions made In the Lease and Contract to the contrary, Lessee <br />shall have the right at any time, upon the basis of at least thirty (30) days advance written notice to <br />Lessor, to terminate the Lease of Leased Coal effective on December 31 of any year, but Lessee <br />must pay to lessor all amounts, if any, due under the terms of the Lease to the day previous to the <br />effective date of termination. <br />2. Agreement to Trade Real Pmpmty. As additional Consideration for entering Into the <br />Lease and Contract. Lessor hereby agrees to trade Lessor's surface and improvements on the above <br />Attachment 2.03.6-1 Page 34 <br />