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A& • COLORADO L State Land Board DIVISION OF RECLAi(AT1ON oepa•tlne,U of Natwal Resources MINING AND SAFETy APP NO. 1�:_�5341 LEASE ASSIGNMENT Solid Minerals ASSIGNMENT OF LEASE NO. GL3466 / 102486 y :",ease check if this is a full or partial assignment: FULL r I PARTIAL if the,e is a conflict between the full/partial box checked above and the acreage assigned indicated below, the soecific acreage assigned witl control. In consideration of good and valuable consideration agreed to between the Assignor and Assignee (named below), this lease assignment !"Assignment")Is entered into between the Assignor and Assignee and they agree as fotiows: ASSIGNOR("Assignor")(Name) �',LSCO Consuith;:P stnjic« (Address; ?G Box 336626 hereby assigns and transfers, subject to approval from the State of Colorado, acting by,and th.,ough its State hoard of Lana Commusioners ("State Lattd Hoard"), all right, title and interest as"Lessee of Record"on the State Land Board;sodd minerals tease identified above ('the in 160.00 acres of the Lease lands located in Weld _ County, Colorado ("County"), NE/4 of: (Acreage Assigned) (Subdivision) Section 16 Township 7N , Range 59W (collectively, the"Assigned Lands"), including all stipulations and requirements attached and incorporated into the Lease, unto: ASSIGNEE("Assignee")(Name) __J_u5+!(X_��- G4GrjY�(a �h •__ (Address) c19 1 aS CA (City, State, Zip) La SO-11e.f CCp . 80 pIf5 Reserving unto the Assignor all previously reserved minority reservations of Lease ownership and/or overriding royalties made and filed by the Assignor in the clerk and recorder's office of the County ("Clerk 6t Recorder's Office"), to the extent that such reservations comply with the terms of the Lease. The parties acknowledge that the State Land Board has one"Lessee of Record" on the Lease and does not track minority assignments of overriding royalties or minority leasehold interests in the Lease; however, pursuant to the terms of the Lease, the State Land Board acknowledges that separate contracts for minority teasehold interests and overriding royalties in the Lease may exist between the Assignor, the Assignee and/or other minority owners in documents filed in the Clerk& Recorder's Office and this Assignment does not purport to assign those interests. As of the Effective Date (as defined below), the Assignee hereby agrees to accept and assume all title, responsibility, liability and interest in, and to abide by all terms and conditions of the Lease being assigned, and will herein be the new "Lessee of Record" for all, or part of the Lease assigned (as specified above). However, pursuant to the terms of the Lease, the State Land Board's approval of this Assignment shalt not release the Assignor from any liability for known or unknown wasi.c or damage to the Assigned Lands, including, but not limited to, environmental damage which arose from, or in connection with Assignor's use or occupancy of the Assigned Lands and/or from any liability for violations of the Lease and/or of applicable federal, state, and local laws, regulations, rule, and ordinances including without limitation the rules and regulations of the Colorado Division of Reclamation and Mining Safety ("DIR/1,S") during Assignor's use or occupancy of the Assigned Lands. Assignor, Assignee, and the State Land Board further agree as follows: 1. Assignee and Assignor agree that no mining activity shall occur on the Leased Premises (as defined ;n the Lease) and no minerals shall be removed from the Leased Premises prior to DRMS approval of the transfer ;to mineral permit (Mining Permit No. M2014-C70) and the posting of financial assurance by Assignee in accordance with DRMS requirements. t. Assignor agrees to provide all outstanding production reports to the State Land Board. Assignor represents and warrants the production reports are accurate and account for all production under the Luse prior to the Lease No. y07-yF6 Page 1 of 3