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ViTED STATES Or At•7~rZICA 1 1918
<br />~SIGNMENT APPROV:.D ~FF;=.~-TIVE_~ AL N $}tl-tIBIT C-V
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<br />Lea e~, Canon Ciry ~ C nd lunctl0n TOatG
<br />Bunch of Adjudicalio4
<br />UNITED STATES )
<br />DEPARTMENT OF THE INTERIOR )
<br />BUREAU OF LAND MANAGEMENT )
<br />ASSIGNMENT OF UNITED STATES
<br />COAL LEASE
<br />SERIAL N0. C-0125516
<br />For and in consideration of the sum of Ten Dollars ($10,00) and other valuable
<br />consideration, the receipt and sufficiency whereof is hereby acknowledged, the
<br />undersigned INDUSTRIAL ASSETS, INC., hereinafter called "Assignor", as oolner of
<br />all the record title to U.S. Coal Lease Serial No. C-0125516 dated May 1, 1968,
<br />covering the following described Tand in Garfield County, Colorado:
<br />• Township 8 South, Range 102 West, 6th P.M.
<br />Section 2: All (Lots 5-33 inclusive, S;SW;,
<br />NW1;SW',)
<br />Section 3: Lots 5-20 inclusive, S'~ (all)
<br />Section 4: Lots 5-15 inclusive, 18, 19, 20,
<br />N;SE;, SE;SE;
<br />Section 10: N',NW;
<br />containing 2522.72 acres of land, more or Tess, hereinafter together called the
<br />"leased premises", does hereby sell, assign, transfer, set over and convey unto
<br />SHERIDAN ENTERPRISES, INC., a California corporation, with its principal office
<br />at 8301 East Prentice Avenue, Englewood, Colorado, hereinafter called "Assignee",
<br />its successors or assigns, all of Assignor's right, title and interest in and
<br />to said U.S. Coal Lease.
<br />For the same consideration Assignor covenants and agrees with Assignee, its
<br />successors or assigns as follows:
<br />1. That Assignor is the lawful owner of and has good title to the interest being
<br />assigned hereunder, free and clear of all liens, encumbrances and conflicting
<br />_ claims; that the said lease is a valid and subsisting lease covering all
<br />above described land and that all rentals due thereunder-have-been.p~]_d_and _
<br />all conditions necessary to keep the said lease in full force and effect have
<br />been duly performed.
<br />2. Commencing with coal produced on May 1, 1988, Assignor, as part of the con-
<br />sideration far this assignment, reserves unto itself, its successors and
<br />assigns, an overriding royalty equal to the lesser of 1%,% of the gross sales
<br />price at point of sale of each short ton of coal mined and sold from the
<br />LESSEE
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