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BK 3555 PG 732 <br />lands. Without limitation, Grantor EXCEPTS AND RESERVES all rights necessary to perform <br />all reclamation and monitoring activities which are specified in the Permit or that may otherwise <br />be required by the DMG or other governmental agencies which have or may subsequently obtain <br />jurisdiction over such activities, including the right to bring all equipment, supplies, and <br />personnel onto the Premises which may be necessary or convenient to perform such reclamation <br />and monitoring activities. Grantor agrees, in conducting operations on and accessing the <br />Premises and adjacent property, Grantor shall use existing roads, gates, facilities and <br />improvements whenever practical, and shall have the right to construct and use new facilities and <br />improvements as may be necessary or convenient for its reclamation and monitoring obligations. <br />Upon expiration and/or termination of its reclamation obligations and release of any and all <br />bonds applicable thereto by DMG, Grantor shall remove all of its equipment and materials from <br />the Premises and shall restore the same in accordance with applicable requirements in or <br />consistent with the Permit, as it may be revised from time to time, or the Act and its <br />implementing regulations. <br />This conveyance is made SUBJECT TO those items set forth on Exhibit A, attached <br />hereto and incorporated herein by this reference, and to the terms and conditions set forth in that <br />certain Deed of Conveyance dated May 22, 2002 by and between Powderhorn Properties <br />Company and Snowcap Coal Company, Inc. of record in Deed Book 3095, page 98, in the Office <br />of the Clerk and Recorder of Mesa County, Colorado, and that certain Deed of Conveyance <br />dated May 22, 2002, by and between Powderhom Properties Company and Snowcap Coal <br />Company, Inc. of record in Deed Book 3095, page 130 in the aforesaid Clerk and Recorder's <br />Office. <br />SUBJECT TO the terns and conditions set forth herein, GRANTOR covenants with <br />GRANTEE, its successors and assigns, that the Property herein conveyed to GRANTEE is free <br />from all exceptions and encumbrances made by GRANTOR except for those described in <br />Exhibit A, and that GRANTOR will warrant and defend title to said Property against the lawful <br />claims and demands of all persons claiming by, through, or under GRANTOR, except those <br />items described in said Exhibit A, but against none other. <br />The covenants and provisions contained in this deed shall inure to the benefit of and be <br />binding upon GRANTOR and GRANTEE and their respective successors and assigns, and shall <br />constitute covenants running with the land. Without limiting the foregoing, any grant or <br />conveyance of any property or interest by this deed to GRANTEE shall be deemed granted or <br />conveyed to GRANTEE and its successors and assigns, and any release shall inure to the benefit <br />(the remainder of this page intentionally left blank) <br />4 <br />Doc #197634.0 Date: 1211112003 1:41 PM <br />TR -69 A14-5-64 12116 <br />