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<br />COAL ~11NING [,EASE
<br />T1iiS COA1, MINING LEASE (herein the 'Lease"), entered into effective
<br />5 1990, between WILLIAM D. SWING, lR., Lessor, and OAKRIDGE
<br />ENERGY, INC., a Utah corporation, as Lessor.
<br />1. Grant. In consideration of the concurrent purchase by the Lessee from the
<br />Lessor of the entire surface estate and certain fractional interests in the mineral estate
<br />in Ilse lands dcfinal hereinafter as the 'Leased Premises,' and for other good and valuable
<br />consideration, including the production royalties and commitments herein agreed to be
<br />,aid and performed by Lessee, Lessor hereby grants and leases to Lessee apt undivided
<br />one-(ourh (1/4) i,ilerest in and to all coal in, upon or underlying the lands described
<br />below located in La Plata County, Colorado, to-wit:
<br />An undivided one-half (U2) interest in and to Lots J, ?, 7, 8 and 9 of
<br />Section i?,'1'nwnsliip 35 North, Range 9 Wcst, N.Af.P.~1.,La Plata County,
<br />Culuracln, lying and being lasterly of old U.S. Highway 550-Ifi0
<br />AND
<br />An undivided one-half (1/2) interest in and to all that portion of the
<br />S1:1/4SF1/4 0( Section 29, Township 35 North, Range 9 West, N.~i.P.bi.,La
<br />PIa1a County, Colorado, which lies South of the South Bank of Horse Gulch
<br />(hereinafter the 'Leased Premises'), together with the right to explore for, mine (by open
<br />pit, underground, strip, auger or any other method), transport, remove and market all
<br />coal leased herein; and to the extent Lessor has or may have the right and title to grant
<br />and (case such rights, the right to use as much as the surface of the based Premises as
<br />may be necessary or reasonably convenient in the exercise of the rights granted by this
<br />Ecorse, including she r.gh; to construct, install, locale, operate and maintain buildings,
<br />shafts, pits, tunnels, roads, utilities and other improvements, machinery and equipment,
<br />and dumps and stockpiles o(coal and waste materials produced from the Leased Premises
<br />during the term of this Lease.
<br />2. Term. The term of this Lease shall be twenty-five (25) years from the dale
<br />hereof, and so long Ihercafter as coal is mined in good faith in commercial quantifies on
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