APPCOR11241

• Permit No: C1981041
• IBM Index Class Name: Application Correspondence
• Doc Date: 1/22/1982
• From: WESTERN ASSOCIATED COAL CORP
• To: MLRD
• Media Type: D
• Archive: No

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AGREEMENT
THIS AGREEMENT made December 31, 1981 between GEX
Colorado, Inc., a Delaware corporation, and Cameo Land Co., a
Delaware corporation ("Sellers") and Powderhorn Properties
Company, a Colorado general partne cship ("Buyer").
WHEREAS, Sells ra have executed a Deed of Trust recorded
September 22, 1980 in Book 1276 at page 296 of the Mesa County,
Colorado records and a Security Agreement and Financing Statement
recorded July 2E, 1980 in Book 1276 at page 300 of said re co rde
for the benefit of the Colorado Mined Land Reclamation Boacd
(the "Security Instruments") to secure an obligation under a
Reclamation Bond; and
WHEREAS, Sellers have agreed to transfer all their
interest in the property secured by the Security Instruments
(the "Property") to Buyer by a conveyance with a warranty that
title is free and clear of the lien of the Security Instruments;
and
WHEREAS, Sellers are unable to obtain a release of
the Security Instruments until a replacement bond is filed with
the Colorado Mined Land Reclamation Board; and
WHEREAS, it is Buyers intention to obtain a replacement
bond, but a replacement bond cannot be filed until after the
Closing on the sale of the Property; and
WHEREAS, the parties desire to set forth their agree-
ment regarding the conveyance of the Property and release of
the Security Instruments;
NOW, THEREFORE, for good and valuable consideration,
the receipt of which is hereby acknowledged, the Sellers and
Buyer agree as follows:
1. Sellers shall convey the Property to Buyer by
conveyances which warrant title free and clear of the lien of
the Security Instruments which cannot be released until a re-
placement bond is filed.