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MEMORANDUhI OF SURFACE USE AGREEMENT <br />THIS AGREEMENT entered into this ~~' day of Iyj/Jt.(,/ , 1998 ("Effective <br />Date") by and behveen Anna K. Hultz ll:a Auna K. Weaver, Helen~W^.'SlateT, Mary L. Rickerby, <br />Angelis Davcn Weaver, Lonnie Dean Weaver, and Merle Weaver as Guardian of the Estate of <br />Shawn Kevin Weaver (hereinafter collectively refersed to as "OWNER", whether one or more), with an <br />address and COTTONWOOD LAND COhIPANY, a Delaware corporation ("CLC"), with an office at <br />1475 Pine Grove Road, Sttite 207, Steamboat Springs, Colorado 80487, its successors and assigns, <br />whereby in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration, <br />the receipt of which OWNER hereby acknowledges, and in further consideration of the mutual covenants <br />set forth below, OWNER hereby grants unto CLC the right to enter, conduct certain operations for the <br />purpose of exploring for coal and other minerals, and conduct environmental monitoring and other <br />activities associated with obtaining a coal mining permit, on, under and across the following described <br />lands located in the County of Routt, State of Colorado ("Property"): <br />Townshio 6North. Rance 89 West. 6th P.M. DG/d L-' ~~ <br />Section 31 :Lots 1,2,3,4 and E/2 W/2 (309 acres) and E/2 (320 acres) <br />containing 629 acres, more or less <br />1. This Surtace Use Agreement shall be for a one (I) year term commencing from the effec[ive 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 paying 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 />[he land and shall accrue to and be binding upon the successors and assigns of the Parties for the term of <br />this Agreement and any extension of such term. <br />3. For the purpose of this Surface Use Agreement the parties agree that the ownership interest in <br />the Property is as follows: <br />Section 31: E/2 Anna K. Hultz fl:a Anna K. Weaver 100% interest <br />Section 31: Lots 1,2,3,4 and E/2 W/2 Anna K. Hultz fka Anna K. Weaver 17/30 <br />Helen W. Slate I/6 <br />Mary L. Rickerby I/6 <br />Angelis Dawn Weaver l/30 <br />Lonnie Dean Weaver I/30 <br />Merle Weaver as Guardian of the <br />Estate of Shawn Kevin Weaver 1130 <br /> <br />