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United States Department of the Interior <br />BUREAU OF LAND MANAGEMENT -_ <br />COLORADO STATE OFFICE ~ ~ <br />2850 YOUNGFIEID STREET CO.921B AL <br />( <br />(AKEWOOD, COLORADO 80215-7076 <br /> 3451 <br /> C-01538 <br /> Coal <br />NOV 3 0 1990 <br />CERTIFIED MAiL <br />DECISION <br />Powderhorn Properties Company, Lessee <br />Attention: (Vice) John Eagan, P.gent <br />Peabody Development Company <br />P.O. Box 14222 <br />St. Louis, Missouri 63178 <br />Powderhorn Coal Company, Sublessee <br />c/o Peabody Development Company <br />P.O. Box 14222 <br />St. Louis, Missouri 63178 <br />Notice of Readjusted Lease Terms and Conditions <br /> <br />DEC 2 6 1990 <br />Mined Land <br />Reclamation Division <br />Coal lease C-01538 was issued effective June 1, 1951, for 240 acres. The lease was modified <br />effective October 15, 1956, to include an additional 2320 acres. The modified lease was subject to <br />readjustment in June 1971, and the lease was continued under the terms of the 1956 modified lease <br />until December 1, 1981, when the lease was further modified to include an additional 160 acres of <br />Cameo "B" seam coal. Federal coal lease C-01538 is subject to its second readjustment of terms and <br />conditions on June 1, 1991. <br />Notice of intent to readjust coal lease C-01538 was sent to the lessee, Powderhorn Properties <br />Company, and its sublessee, Powderhorn Coal Company, on June 1, 1989. As provided in the <br />Mineral Leasing Act of 1920, as amended (41 Stat. 437, 30 U.S.C. 181 et e . ,the regulations, <br />and Sec. 23 of the 1981 modified lease, we aze hereby readjusting the terms and conditions of lease <br />C-01538. A copy of the readjusted lease is enclosed. The readjusted terms and conditions shall <br />become effective June 1, 1991. <br />The annual rental rate remains at $3 per acre or fraction thereof as provided in the current modified <br />lease. The royalty rates, established by law and by regulations at Title 43, Code of Federal <br />Regulations (CFR), Subpart 3473.3-2, will be 12~f~ percent of the value of the coal removed from <br />a surface mine and 8 percent for coal removed from an underground mine for all lands in the lease. <br />55 Federal Register (FR) 2653, January 26, 1990. The value of the coal shall be determined in <br />accordance with the regulations at 30 CFR 206, as amended. 54 FR 1523, January 13, 1989, and <br />55 FR 35427, August 30, 1990. <br />