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999 Il1IIIII9IIIIIIIIII <br /> MEMORANDUM OF SURFACE USE AGREEMENT <br /> THI G> MENT entered into this 9 day of_ In 1996 ("Effective Date") <br /> by and between DAY EPPS et al ("OWNER") with an address PO Box 762, Hayden, Colorado <br /> 81639 and COTTONWOOD LAND COMPANY, a Delaware corporation ("CLC"), with an office at <br /> 1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its successors and assigns, <br /> whereby in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration, <br /> the receipt of which OWNER hereby acknowledges, and in further consideration of the mutual covenants <br /> set forth below, OWNER hereby grants unto CLC the right to enter, conduct certain operations for the <br /> purpose of exploring for coal and other minerals, and conduct environmental monitoring and other activities <br /> associated with obtaining a coal mining permit, on, under and across the following described lands located <br /> in the County of Routt, State of Colorado ("Property"): <br /> Township 6 North, Ranee 88 West, 6th P.M , Routt County, Colorado <br /> Section 35: N2S/2, SE/4 SWA, SWASE/4 <br /> Containing 240 acres, more or less. <br /> 1. This Surface Use Agreement shall be for a one (1) year term commencing from the effective date <br /> hereof ("Primary Term"), with CLC having the option to extend the Primary Term of this Surface Use <br /> Agreement on a year-to-year basis thereafter, by CLC paying to OWNER on or before the expiration of the <br /> Primary Term, and thereafter on each anniversary date of this Agreement, an annual rental for such <br /> extension. <br /> 2. All of the rights, duties, benefits,terms and covenants contained in this Agreement will run with the <br /> land and shall accrue to and be binding upon the successors and assigns of the Parties fvr the term of this <br /> Agreement and any extension of such term. <br /> IN WITNESS WHEREOF,the Parties have executed this Agreement in duplicate as of the date <br /> first above written, by their own hand and deed. <br /> I <br /> y OWNER:DAISLY EPPS et al COTTONWOOD LAND COWANY <br /> By By Q <br /> Its: m Its: FRESIS&' ILI <br /> JV <br /> =164191 B- 721 P-868 06/ 17/96 02 : 59P PG 1 OF 2 REC DOC <br /> Kay Weinland Routt County Clerk & Recorder 11 . 00 <br />