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' Il-G ~ :)A f. COMPANY <br />3333 n~I113GC S'raEE'f <br />• "' SU L'1'f 8800 <br />~ DL•'NVER, CUI,ORADO 80207 <br />March 22, 1978 <br />ptr. Eiarold [I. Christy <br />511 Polk Street <br />Pueblo, Colorado 81009 <br />r_,jao-oo,~. 0O <br />Re: Coal Mining Lease in Routt County, Colorado <br />Dear Mr. Christy: <br />1'ou ("Christy") as lessor and u;e ("tI-G") as <br />assignee of [V. R. Grace & Co., the original lessee, are <br />parties to that certain Coal [lining Lease dated as of <br />December 12, 1977 and recorded on January 20, 1978 in <br />Dook 446 at page. 178 of the real property records of <br />Routt County, Colorado (the "Lease"). Under the terms <br />of paragraph 3 of the Lease, we are obliged to pay you <br />a minimum monthly royalty of $100.00 during the term of <br />the Lease, payable on or before the fifth day of each <br />month. The purpose of this letter is to formalize the <br />agreement between us to amend the minimum royalty pro- <br />visions of the Lease, for the convenience of both of us, <br />so as to provide for minimum royalty payments on an <br />annual rather than a monthly basis. Therefore, upon <br />your acceptance and execution of this letter in the space <br />provided below, the Lease shall be amended to provide <br />that commencing with the minimum royalty payment due on <br />or before June 5, 1978 and on or before each succeeding <br />June 5 during the term of this Lease, H-G shall pay <br />Christy a minimum annual royalty of $1,200.00, payable <br />to Christy's account at the First National Bank of Pueblo, <br />Colorado 81002. Further, the reference in the second <br />sentence of paragraph 3 of the Lease to "the $100.00 <br />minimum monthly royalty payments" shall be amended to read <br />"the $1,200.00 minimum annual royalty payments", and the <br />references in paragraphs 4 and 6(f) of the Lease to <br />"minimum monthly royalties" shall be amended to read <br />"minimum annual royalties". <br />If the amendment to the Lease as set forth in <br />this letter is satisfactory to you, please indicate your <br />acceptance of that amendment by signing a copy of this <br />letter in the space provided belo•e and returning it to us <br />for our files. <br />Sincerely, <br />H-G COAL COPIPANY. <br />By HANIVEST, INC. , <br />gene aL~ ajrtner <br />~~; <br />By <br />G. Siler, P esident <br />