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r <br />~` , <br />-~;~ <br />.~: <br />~. <br />• <br />• <br />AGREEMENT <br />p~.;l <br />This .egreemenf h made they/ day of tAarcfr, 1976, by and <br />between Prado Verde, Inc., a New Mexico corporation ("PVI") and C S F <br />Cool Company, Inc., a Colorado corporation ("C b F"). <br />C 3 F has entered into an instrument entitled Coal Lease doted <br />November 10, 1975, with Mel J. Martinez and Lucy J. Martinez and a <br />second instrument also entitled Coal Lease dated November 25, 1975, with <br />Frank Martinez, Benjamin R. Munoz, Genevieve Munoz, Mel Martinez and <br />Lucy Martinez. Both of said leases ore hereinaher Fa convenience referred fo <br />os "the Coal Leases". <br />PVI desires to acquire all of C S F's rights under the Cool Leases <br />and C b F is willing To hansfer said righh. Accordingly, the parties agree as <br />follows: <br />1. C d F hereby frarofers and assigns to PVI the Coal Leases and <br />all of C b F's righh thereunder. PVI hereby aceeph sold assignment and rgrees <br />to perform the obligations of the lessee under the Coal Leases, wbjeet to the <br />conditions set forth in Paragraph 3 hereof. <br />2. Promptly following the execution of this agreement PVI shall <br />depaait in escrow in the Bank of Santa Fe, Santa Fe, New Mexico, the sum of <br />58,000.00 as security for the minimum royalty payable under Paragraph 2 of the <br />Coal Lease dated November 75, 1975, and the sum payable under Paragraph 4 <br />hereof. If at the time that all of the conditions set forth in Paragraph 3 heroof <br />hove been met, C 3 F has already paid the 54,000.00 due fo the lessors under <br />sold Coal Lease, C b F shall ba reimbursed out of sold security deposit. It is <br />understood that C G F has no obligation to pvy said minimum royalty under the <br />Cool Lease until weh time as a favorable judgment has been entered in the quiet <br />-1- <br />