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UNITED STATES
<br />DEPARTMENT OF THE INTERIOR Serial No.: COC67232
<br />BUREAU OF LAND MANAGEMENT Date of Lease: March 1. 2007
<br />MODIFIED COAL LEASE
<br />PART 1.
<br />THIS MODIFIED COAL LEASE is entered into on DECO 1 117 by and between the UNITED STATES OF AMERICA,
<br />hereinafter called the Lessor, through the Bureau of Land Management, an
<br />Ark Land, LLC
<br />One CityPlace Drive, Ste. 300
<br />St. Louis, MO 63141
<br />hereinafter called Lessee.
<br />This modified lease shall retain the effective date March 1, 2007, of the original Coal Lease COC67232, and is effective for a period of
<br />20 years therefrom, and for so long thereafter as coal is produced in commercial quantities from the leased lands, subject to
<br />readjustment of lease terms at the end of the 20th tease year (March I, 2027), and each 10 -year period thereafter.
<br />See. 1. This lease is issued pursuant and subject to the terms and provisions of the Mineral Lands Leasing Act of 1920, as amended,
<br />41 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
<br />which are now or hereafter in force, when not inconsistent with the express and specific provisions herein.
<br />See. 2. Lessee as the holder of Coal Lease COC67232, issued effective March I, 2007, was granted the exclusive right and privilege
<br />to drill for, mine, extract, remove or otherwise process and dispose of the coal deposits in, upon, or under the lands described below as
<br />Original Lease.
<br />The Lessor in consideration of fair market value, rents and royalties to be paid, and the conditions and covenants to be observed as
<br />herein set forth, hereby grants and leases to Lessee the exclusive right and privilege to drill for, mine, extract, remove, or otherwise
<br />process and dispose of the coal deposits in, upon, or under the lands described below as Modification:
<br />c•
<br />Original Lease:
<br />Sixth Principal Meridian, Colorado
<br />T. 13 S., R. 90 W.,
<br />sec. 35, lots I I -16, 24, 28, 30, 32, and 33;
<br />sec. 36, lots 5 and 7, and WAWA.
<br />W'A.
<br />Modification:
<br />T. 14 S., R. 90 W.,
<br />sec. I, lots 3 and 4, S'V"'A, SW'h, W'/�IASEIA, and SW'/401/4;
<br />sec. 2;
<br />sec. I I, Ni4NE'/4, and N'/sW'/4;
<br />sec. 12, NVaNW'/4, and WAWA.
<br />Containing approximately 1,528.180 acres, more or less, in Gunnison County, Colorado.
<br />Sixth Principal Meridian, Colorado
<br />T. 14 S., R. 90 W.,
<br />sec. 11, SWIANE'/, WMEr/4, and SE'/4SE'/4;
<br />sec. 14, NE'k, E4SE'/4NWIA, EViNE'/rSW'/4, S'hSW'A, and SE'/4;
<br />sec. 15, SE'/4SEW
<br />sec. 22, E'/:NE'A;
<br />sec. 23, NWWNEIA, and NW'k.
<br />Containing approximately 920.00 acres, more or less, in Gunnison County, Colorado.
<br />containing 2,448,180 acrm more or less, together with the right to construct such works, buildings, plants, structures, equipment and
<br />appliances and the right to use such on -lease rights-of-way which may be necessary and convenient in the exercise of the rights and
<br />privileges granted, subject to the conditions herein provided.
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