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<br />NIEhIORANDUM OF SURFACE USE AGREEMENT
<br />THIS AGREEMENT entered into this~(nl~day of Mav 1996 ("Effective Date") by and
<br />between Wilton Earle and Sons, a partnership ("OWNER") with an address of 97751 Highway 40,
<br />Craig, CO 81625 and COTTONWOOD LAND COMPANX, a Delawaze corporation ("CLC"), with
<br />an 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 Dollazs ($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 monitoring
<br />and other activities associated with obtaining a coal mining permit, on, under and across the following
<br />described lands located in the Counties of Routt and Moffat, State of Colorado ("Property':
<br />To~~mship 6 North. Ranse 89 West. 6th P.M.,Routt Countv
<br />Section 19: Lots ~-7, 10-15, 18-20
<br />Section 25: Lots 3, 4, ~, 6, 11, 12, 13, 14
<br />Section 26: Lots 7-16
<br />Section 27: Lots 9, ]0
<br />Section 29: Lot 13
<br />Section 30: Lots 5, 6, 12
<br />Section 3 L Lots ~, 6, 11, SW/4NE/4, N/2SW/4, SE/45W/4, NW/4SE/4
<br />Section 32: Lo[ 4
<br />Section 34: That part of Lots 1, 2, 7, 8 and 9 described as the A. H. Blake Reservoir
<br />Section 35: Lots 1-12
<br />Section 36: All
<br />To~vnshio 5 North. Ranee 89 West. 6th P.M., Routt Countv
<br />Section 6: Lots 3, 5, SE/4NW/4
<br />Townshio 6 North, Rance 90 West, 6th P.M., lvtoffat Counn~
<br />Section 36: All
<br />Township ~ North, Range 90 West, 6th P.M. Moffat Counn~
<br />Section 1: Lot ~
<br />containing 3,83.94 acres, more or less
<br />1. This Surface Use Agreement shall be for a three (3) 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-year basis thereafter, by CLC paying to OWNER on or before the expiration of the
<br />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 the
<br />land and shall accrue [o and be binding upon Ute successors and assigns of the Parties for the term of this
<br />Agreement and any extension of such term.
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