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<br /> <br />111 IIIIIIIIIIIII III • <br />999 <br />MEMORANDUM OF SURFACE USE AGREEMENT <br />THIS MEMORA UM OF SURF CE USE AGREEMENT (the "Memorandum"1, dated <br />effective the day of O 1994, is by and between J-MAR, INC., <br />a Colorado corporation, with an a dress at 3330 Templeton Gap, Colorado Springs, <br />Colorado 80907 (hereinafter referred to as "Surface Owner"), and CYPRUS EMPIRE <br />CORPORATION, a Delaware corporation, with an address at 1303 County Road 107, <br />P. O. Box 68, Craig, Colorado 80467 (hereinafter referred to as "Cyprus"). <br />Surface Owner, in consideration of the covenants and agreements contained in that <br />certain unrecorded Surface Use Agreement (the "Agreement") dated concurrently <br />herewith, granted unto Cyprus certain rights to enter upon and use certain lands (the <br />"Lands") belonging to Surface Owner as further described in Exhibit "A" attached <br />hereto and made a part hereof, for the right to /11 survey; /21 conduct exp/oration <br />activities; (31 construct a pad or pond for an exp/oration boreho% and dii// an <br />exp/oration borehole; (4) utilize and upgrade an existing road into the drilling site and <br />construct an exp/oration road from the existing road into the di/!!site; (51 remove and <br />rep/ace existing drainage culverts, if any,• (61 conducigenera/reclamation of drill/bore <br />ho% sites and other disturbed areas; and /71 conduct seismic surveys. <br />The Lands are subject to alf of the terms and conditions of the Agreement, reference <br />to which may be made for a complete statement of rights and obligations of Surface <br />Owner and Cyprus. Should there be any discrepancy between this Memorandum of <br />Surface Use Agreement and the Agreement, the Agreement shall control. <br />The term of the Agreement shall be for a primary term of one (1) year and shall <br />commence on the effective date hereof. <br />Copies of the Agreement may be found at the above indicated addresses of the <br />parties. <br />This Memorandum may be executed in any number of counterparts and shall be <br />binding upon all owners of interests in the Lands executing the same or a counterpart <br />hereof, whether or not named herein as one of the Surface Owners, and whether or <br />not other owners of interests in the Lands have executed other counterparts or have <br />not entered into the Agreement. <br />All the terms, conditions and covenants of the Agreement shall be binding upon and <br />shall inure to the benefit of the heirs, successors and assigns, respectively, of each <br />of the parties hereto. <br /> <br />oomemo.007Atq - 1 - <br />