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VOLUME 1 -APPENDIX F <br />• LIMITED ACCESS AND SURFACE USE AGREEMENT <br />THIS LIMITED ACCESS AND SURFACE USE AGREEMENT ("Agreement)" is <br />made and entered into this ~~ day of July, 2004 by and between Oxbow Mining, LLC, <br />hereinafter referred to as "Oxbow," whose address is P.O. Box 535, Somerset, CO <br />81434, and Minrec, Inc, hereinafter referred to as "Minrec," whose address is 715 <br />Horizon Drive, Suite 219, Grand Junction, CO 81506. <br />RECITALS <br />A. Oxbow is the owner in fee of the surface of certain real property located in <br />Delta County, Colorado, the description of which is set forth on Exhibit 1 <br />attached hereto and incorporated herein by this reference. Such surface <br />property is hereinafter referred to as the "Surface Property". <br />B. Minrec is the Operator of the Blue Ribbon Mine ("Mine"). Mining at the <br />Mine has been completed, and the only ongoing operation at the Mine <br />being conducted by Minrec is surface reclamation and monitoring. The <br />surface activities relating to the Mine which are being reclaimed by Minrec <br />are located on a portion of the Surface Property. <br />C. Minrec is in the process of reclaiming the Surface Property in accordance <br />with its obligations under Permit No. C-81-047 ("Permit"), issued by the <br />• Colorado Division of Minerals and Geology ("DMG") pursuant to the <br />Colorado Surface Coal Mining Reclamation Act, C.R.S. 34-33-101, et seq. <br />("Act") and the associated regulations. Minrec has given its bond to the <br />CMLRD to secure its reclamatioh and monitoring obligations and cannot <br />obtain release of that bond until those obligations have been satisfied. <br />The parties cannot anticipate how long completion of reclamation and <br />bond release will require, but expect it will be at least several years. <br />Nevertheless, the parties are very much interested in reclamation and <br />bond release proceeding in a diligent manner with the goal being that <br />completion of reclamation and bond release occur as promptly as <br />possible. As owner of the Surtace Property, Oxbow will benefit from <br />having it fully reclaimed in accordance with Minrec's obligations. <br />D. The purpose of this Agreement is to clearly establish that Minrec has all <br />rights of access and use in the Surface Property necessary to complete <br />reclamation for the time period and under the conditions provided herein, <br />provided, however, that in doing so Minrec will not hinder Oxbow's use of <br />its Surface Property. <br />NOW, THEREFORE, for and in consideration of their respective rights and <br />obligations under this Agreement the sufficiency of which is hereby acknowledged, the <br />parties agree as follows: <br />• 1. Oxbow hereby grants, bargains and conveys to Minrec the right of direct <br />and immediate access in, over and through the Surface Property, and the <br />aioi~ns~s I <br />