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<br />MEMORANDUM OF SURFACE USE AGREEMENT <br />THIS AGREEMENT entered into this~'riday of April, 1998 ("Effective Date") by and <br />between Shirt Joseph Prewitt ("OWNER"), with an address of Post Office Box 18258, Panama City, FL <br />34217-8258, and COTTONWOOD LAND COIVIPANY, a Delaware corporation ("CLC"), with an <br />office at 1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its successors and <br />assigns, whereby in consideration of the sum of Ten Dollars ($10.00) and other good and valuable <br />consideration, the receipt of which OWNER hereby acknowledges, and in further consideration of the <br />mutual covenants set forth below, OWNER hereby grants unto CLC the right to enter, conduct certain <br />operations for the purpose of exploring for coal and other minerals, and conduct environmental <br />monitoring and other activities associated with obtaining a coal mining permit, on, under and across the <br />following described lands located in the County of Routt, State of Colorado ("Property"): <br />Township 5 North. Ranee 88 West, 6th P.M. <br />Section 4 : SW/4 NE/4 <br />containing 40 acres, more or less <br />]. This Surface Use Agreement shall be for a one (1) year term 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-yeaz 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, benefits, 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 any extension of such term. <br />IN WITNESS WHEREOF, the Parties have executed this Memorandum of Surface Use <br />Agreement as of the date first above written, by their own hand and deed. <br />OWNER: Shirt Joseph Prewitt <br />By. ' 7 ,~~ <br />COTTONWOOD LAND COMPANY <br />By:~, ~~~OS4vZ.~~1[~ ,.~ <br />Its: PRESl DENT' <br />Dc~aL- 02 <br />5 <br />