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r <br />• <br /> <br />title wit referred ro in Paagraph 3(a) hereof asd a title pal iey hm been iswed <br />to PVI satisfactory in form and w6sronee to C d. F and PVI's attorneys. <br />3. This agreement is wbi«t to the satisfaction of the following conditions <br />on a before August 31, 1976: <br />(a) That judgment hm been entered in the Plaintiff i fwa <br />in the quiet title wit Filed by the lessors under the Coal Leases in Archuleta <br />County, Colorado and a title policy has been iuued to PVI wtisfactay in form and <br />wbstanee to PVI's attorneys; <br />(b) A mining permit adequate fa PVI's purposes shall hwe <br />• <br />been rxeived from the State of Colaodo, together with all other permits and <br />permissions which may be required from amy county, state a other gwemmental <br />~>% <br />(e) Before the expiration of thirty (30) days after the satisfaction <br />of the conditions set forth in subpaagroph (a) obese, the lessors under the Coal Leases <br />shall hwe executed m amendment and supplement to the Coal Leases in a form <br />acceptable fo PVI. <br />4. Within ten days of the satisfaction of the eonditixs sat forth in <br />Paagraph 3 hereof, PVI shall pay ro C 8 F in consideration Fa the rights granted <br />hereunder the wm of $4,000.00. <br />5. As addi}ional consideration for the rights granted hereunder, PVI <br />agrees to pay to C iS F a royalty of seventy cents (5.70) per ton computed and payable <br />in the same manner m the royalty payable under the Cool Lease doted Nwamber 75, <br />1975, m amended. The first day of the month following the month in which all of <br />the eanditiorrs set forth in Paagraph 3 hereof hwe been met shall ba fa the purposes <br />of fhls agreement the beginning of on accounting yea. The minimum royalty payable <br />hereunder during each occasntirg yea shall be Six Thousand Dollan (56,000.00), <br />• -2- <br />