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,, �z III IIIIII III IIII III- , <br /> 999 <br /> MEMORANDUM OF SURFACE USE AGREEMENT <br /> THIS AGREEMENT entered into this /eday of '77z uz 1996 ("EffectivL <br /> Date") by and between Hockett Farms, a partnership ("OWNER"), with an address of Post Office Boa <br /> P, Hayden, Colorado 81639, and COTTONWOOD LAND COMPANY, a Delaware corporation <br /> ("CLC"), with an office at 1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its <br /> successors and assigns, whereby in consideration of the sum of Ten Dollars (S10.00) and other good and <br /> valuable consideration, the receipt of which OWNER hereby acknowledges, and in further consideration <br /> of the mutual covenants set forth below, OWNER hereby grants unto CLC the right to enter, conduct <br /> certain operations for the purpose of exploring for coal and other minerals, and conduct environmental <br /> monitoring and other activities associated with obtaining a coal mining permit, on, under and across the <br /> following described lands located in the County of Routt, State of Colorado ("Property'): <br /> Township 6 North, Range 88 West, 6th P.M. <br /> Section 26: SWA <br /> Section 27: SWA NEA, SEA NW/4, SEA, and E/2 SW/4 <br /> Section 33: NE/4, E/2 NW/4, NEA SWA and N/2 SEA <br /> Section 34: NE/4, E/2 NW/4, NE/4 SW/4,NW/4 SEA and E/2 SE/4 <br /> Section 35: NW/4 and SW/4 SWA <br /> containing 1,440.00 acres, more or less <br /> I. This Surface Use Agreement shall be for a one (I) year term commencing from the effective date <br /> hereof("Primary Term"), with CLC haying 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 <br /> the 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 \%ill run with <br /> the land and shall accrue to and be binding upon the successors and assigns of the Parties for the term of <br /> this Agreement and any extension of such term. <br /> LN WITNESS WHEREOF, the Parties have executed this Memorandum of Surface Use <br /> Agreement as of the date first above written, by their own hand and deed. <br /> OWNER: Hockett Farms, a partnership COTTONWOOD LA-N-D COMPANY <br /> By: By: <br /> Darrdll$. Hockett Its: PRESIOE� <br /> By: �iGC► * 44�7�/ <br /> Duane Hockett <br />