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<br />COAL MINING LEASE
<br />Tii1S COAL MINTNG LEASE (herein the 'Lease'), crttered into effxti.•e
<br />~C~(~ 3 , 1990, between WILLIAM D. SWING, JR., Lessor, and OAKRIDGE
<br />ENERGY, INC., a Utah wrporation, as Lessor.
<br />1. Crant. in consideration of the concurrent purchase by the Lessee from the
<br />f.c.sor of the entire surface estate and certain fractional interests in the mineral estate
<br />in the lands defined hereinafter as the 'Erased Premises,' and for other good and valuable
<br />cunsidc~tion, ,ncluding the production royalties and commitments herein agreed to he
<br />paid and pcrtormcd by Lessee, Lessor herrby grants and leases to Lessee an undivided
<br />c•nc-fourth (1/a) interest in and to all coal in, upon or underlying the lands described
<br />helow located in La Plata County, Colorado, to-wit:
<br />An undivided one-half (1/2) interest in and to Lots 1, 2, 7, 8 and 9 of
<br />Section 32, Township 35 North, Range 9 West, N.M.P.M.,La Plata County,
<br />Colorado, lying and being Easterly of old U.S. Highway 550-160
<br />ANI)
<br />An undivided one-half (]/2) interest in and to al] that portion of the
<br />Sl:l!<SE1/4 of Section 29, Township 35 North, Range 9 West, N.M.P.M.,La
<br />P1;,ta County, Colorado, which lies South of the South Bank of Horse Gulch
<br />Ihcrcinaftc: the 'Ecased Premises'), together with the tight to explore for, mine (by open
<br />nit, underground, scrip, auger or any other method), transport, remove and market all
<br />coal leased herein; and to the extent Lessor haz or may have the right and title Io grant
<br />Y'
<br />a,td Icase such rights, the right to use az much as the surfact of d:c Leased Premises as
<br />may he necessary or reasanahly convenient in the exercise of the rights granted by this
<br />l.case, Inc?uding :he right to construct, install, locate, operate and maintain buildings,
<br />shafts, pits, tunnels, roads, utilities and other improvements, machinery and eq,:ipment,
<br />and dumps and stt~ckpiles of coal and waste materials produced from the leased Premises
<br />during the term of Ihis Lease.
<br />2. Term. The term of this Lease shall be twenty-five (25) years from ,he date
<br />I,crcof, and so long therca(ter as coal is mined in good faith in commercial quantities on
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