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4. Coal Lease, dated 3-26-64 {160 acres - Routt County, <br /> Colorado, by and between Carlton Investment Corporation and <br /> The United Electric Coal Companies (Freeman), hereinafter <br /> called "Carlton Lease". This Carlton Lease is claimed by <br /> Carlton Investment Corporation to have been terminated at the <br /> end of its twenty-year term, but Freeman has claimed a ten <br /> year automatic extension in accordance with terms of the <br /> Carlton Lease. <br />~ _- <br />5. y <br />The foregoing Papoulas Lease, Library Lease'and Carlton Lease <br /> (hereinafter collectively called Private Leases) are subject <br /> to a Sublease of Coal Lease dated 3-25-75 entered into <br /> between Freeman and Peabody (successors-in-interest, <br /> respectively). Included in this Sublease of Coal Leases is a <br /> subletting by Freeman of its interest in a certain Road <br /> right-of-way for coal transportation purposes (described in <br /> deeds recorded in Book 395, pages 302, 304 and 306, <br /> Recorder's Office, Routt County, Colorado), and this <br /> Assignment of Leases is intended to transfer to Peabody all <br /> of Freeman's right, title and interest in this Road <br /> right-of-way. <br />6. The lands that are subject to the foregoing Leases and this <br /> Assignment of Leases are described in Exhibit "1" attached <br /> hereto and made part hereof. <br />~. Ter ms and Conditions for this Assignment are as Follows: <br />1. Conditions. The validity and force of this Assignment of the <br /> described Federal and Private Leases are contingent upon <br /> compliance by Peabody with approval procedures and <br /> requirements for the transfer of the Federal Leases as set <br /> forth in relevant regulations in 43 CFR 3400 and upon <br /> acceptance by Peabody of the terms and conditions hereof by a <br /> duly authorized execution by Peabody of the Acceptance <br /> following this Assignment. Peabody agrees to follow such <br />• approval pzocedures and requirements and Freeman agrees to <br /> cooperate with Peabody in securing the requisite approval for <br /> this transfer of the Federal Leases to Peabody. <br />~~:~'J2. ~~Co~mQe~_nsation/Overriding Production~ROyalty. In consideration <br />of this Assignment, Feabody agrees to pay to Freeman an <br />"`•'==-Overridin Production Ro alk <br />9 y y_of (a) ten cents ($.10) per ton <br />for coal mined by strip or auger mining methods covered by <br />the subject Federal or Private Leases and (b) one percenc <br />(1S) of the value of [he coal produced by underground r..ininq <br />method:, and covered by the Federal or Private Leases. <br />(a) For purposes of this ,lssignmcnt, "strip or auger <br />mining methods" or "underground mining methods" shall have <br />the same meaning ,~s ,applied for Federal Coal Leases (or as <br />defined in applicable federal regulation or as judicially <br /> <br />-'- <br />