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MEMORANDUM OF SURFACE USE AGREEMENT <br />THIS AGREEMENT entered into this~day of ~~, 1946 ("Effective <br />Date") by and between Hockett Brothers, a partnership ("OWNER"}, with an address of Post Office <br />Box P, Hayden, Colorado 81639, and COTTONWOOD LAND COMPANY, a Delaware corporation <br />("CLC"), with an office at 1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its <br />successors and assigns, whereby in consideration of the sum of Ten Dollars ($10.00) and other good and <br />valuable consideration, the receipt of which OWNER hereby acknowledges, and in further consideration <br />of the mutual covenants set forth below, OWNER hereby grants unto CLC the right to enter, conduct <br />certain operations for the purpose of exploring for coal and other minerals, and conduct environmental <br />monitoring and other activities associated with obtaining a coal minim permit, on, under and across the <br />following described lands located in the County of Routt, State of Colorado ("Property"): <br />To~~mshiR6 North. Ranpe~BR West. 6th P.M. <br />Section 23: Part of the NE/4 NE/4 '~C A L - Q,j <br />Section 23: All <br />Section Z~: NW/4 NW/4 <br />Section 26: E/2 <br />Section 3~: NE/4 <br />containine 1,195.5 acres. more or less <br />1. This Surface Use Agreement shall be for a one (1) year [ettn commencing from the effective date <br />hereof ("Primary Term"), with CLC having the option to extend the Primary Term of this Surface Use <br />Agreement on a year-to-year basis thereafter, by CLC payine to OWNER on or before the expiration of <br />the Primary Term, and thereafter on each anniversary date of this Agreement, an annual rental for such <br />extension. <br />2. All of the rights. duties, benefi[s, terms and covenants contained in this Agreement will run with <br />the land and shall accrue to and be binding upon the successors and assigns of the Parties for the term of <br />this Agreement and anv extension of such term. <br />IN WITI~SS WHEREOF, the Parties have executed this Memorandum of Surface Use <br />Agreement as of the date first above written, by their ovvn hand and deed. <br />OWNER: Hockett Brothers, a 7p~a~rtnersh~ip <br />'-t vane Hockett <br />r. <br />a By: <br />COTTONWOOD LAND COMPANY <br />By: <br />Its: I n~ p~~ <br />arrelly. HocCcett <br />454455 B-721 P-1132 06/24/96 02:24P PG 1 OF 2 REC DOC <br />Kay Weinland Routt County Clerk & Recorder 11.00 <br />