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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 I. <br />THIS MODIFIED COAL LEASE is entered into on DEC 012W 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 lease year (March 1, 2027), and each 10 -year period thereafter. <br />Sec. 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 />Sec. 2. Lessee as the holder of Coal Lease COC67232, issued effective March 1, 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, removr`'e�or otherwise <br />process and dispose of the coal deposits in, upon, or under the lands described below as Modification: <br />Original Lease: ;:�a c , <br />Sixth Principal Meridian, Colorado N <br />T. 13 S., R. 90 W., <br />sec. 35, lots I 1-16, 24, 28, 30, 32, and 33;' <br />sec. 36, lots 5 and 7. and SWV4SW'/4. <br />T. 14 S., R. 90 W., <br />sec. 1, lots 3 and 4, S%"'/, SWIA, WViNWV4SE�A, and SWIASEIA; <br />sec. 2; ' <br />sec. 11, N%NEIA, and NV2 W'A; - <br />sec. 12, N% W'A, and NWIANEI/4. <br />Containing approximately 1,528.180 acres, more or less, in Gunnison County, Colorado. <br />Modification: <br />Sixth Principal Meridian, Colorado <br />T. 14 S., R. 90 W., <br />sec. 11, SWIANEIA, WVAE'A, and SEIASEIA; <br />sec. 14, NEI/4, EV2SEIANWIA, 04NEIASW'/, S'/zSWIA, and SETA; <br />sec. 15, SEIASEI/4; <br />sec. 22, EV2NEI/4; <br />sec. 23, NWIANEIA, and NWIA. <br />Containing approximately 920.00 acres, more or less, in Gunnison County, Colorado. <br />containing 2,448.180 acres, 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. <br />