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GNP <br /> MEMORANDUM OF SURFAC,_ SE AGREEMENT <br /> THIS AGREEMENT entered into this .day of 1996 ("Effective Date") i <br /> by and between Anna K. Hultz ("OWNER") with an address of P. 0. BoNA6. Havden. CO 81639 and <br /> COTTONWOOD LAND COMPANY, a Delaware corporation ("CLC"), with an office at 1475 Pine <br /> Grove Road, Suite 207, Steamboat Springs, Colorado 80497, its successors and assigns, whereby in <br /> consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration, the receipt of <br /> which OWNER hereby acknowledges, and in further consideration of the mutual covenants set forth below, <br /> OWNER hereby grants unto CLC the right to enter, conduct certain operations for the purpose of exploring <br /> for coal and other minerals, and conduct environmental monitoring and other activities associated with <br /> obtaining a coal mining permit, on, under and across the following described lands located in the County of <br /> Routt, State of Colorado ("Property'): <br /> Township 6 North Range 88 West. 6th P.M. <br /> Section 31: Lots 1, 2, 3, 4, E/2, E/2W/2 <br /> containing 628.68 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 rite option to extend the Pnman Term of this Surface Use <br /> Agreement on a %ear-to-%car basis thereafter, bh CLC paying to 0\41ER on or before the expiration of the <br /> Primary Term, and thereafter on each anniversan• date of this Agreement. an annual rental for such <br /> extension. <br /> 2. -Ul of die 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 for the term of this <br /> Aarccmew and am extension of such term. - <br /> IN N17TNESS WHEREOF, die Parties have executed this Agreement in duplicate as of the date <br /> first aboic wrinen, b% their own hand and deed. <br /> OWNER: COTTONWOOD LAND CONIIPANNNYY <br /> By: <br /> Anna K. Hultz JI Its: U Pars/DE?�-T <br /> STATE OF COLORADO ) <br /> SS: <br /> COUNTY OF- C U J� ) <br /> The foregoing instrument was acknowledged before me this t r 4 day of �rO 3 �4, 1996 <br /> �y Anna K. Hultz. <br /> WA&my hand:and official seal. <br /> w Notary Public <br /> My corhrrission expires: <br /> 112Lt� IL <br /> 463551 B-721 P-228 06/03/96 01 : 59P PG 1 OF 2 REC DOC <br /> Kay- Weinland Routt County Clerk & Recorder 11 . 00 <br />