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r <br />MEMORANDUM OF SURFACE USE AGREEMENT <br />THIS AGREEMENT entered into this_ day of 1996 ("Effective <br />Date") by and between Darrell W. Camilletti, ("OWNER") with an address of 36,335 County Road 53, <br />Hayden, Colorado 81639 and COTTONWOOD LAND COMPANY, a Delaware corporation ("CLC"), <br />with an office at 1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its successors <br />and 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 6 North. Ranee 88 West. 6th P.M. <br />Section 21: SEl/4 SEI/4 <br />Section 22: SWl/4 SWl/4 <br />Section 27: Wl/2NW1/4andNW1/4SW1/4 <br />Section 28: El/2 <br />containing 520.00 acres, more or less <br />1. This Surface Use Agreement shall be for a two (2) year term commencing from the effective <br />date hereof ("Primary Term"), with CLC having the option to extend the Primary Term of the Surface <br />Use Agreement on a year-to-year basis thereafter, for the sole purpose of conducting additional periodic <br />environmental monitoring activities as set forth in Paragraph 4. Environmental Studies, including the <br />right of ingress and egress as set forth in Paragraph 5. Ineress and Egress, by CLC paying to OWNER on <br />or before the expiration of the Primary Term and thereafter on each anniversary date of the Surface Use <br />Agreement, an annual rental for such 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 Agreement in duplicate as of the date <br />first above written, by their own hand and deed. <br />OWNER: Darrell W. Camilletti <br />lit )~ ~1,L~,~ <br />COTTONWOOD LAND COMPANY <br />ay: <br />Its: ~ L~~ <br />