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11/YS/B8 14:OS $SOS Y46 7718 EI.An - GJ X002 <br />POWDERHORNCOAL COMPANY <br />PO Ea+c 1430, Pdiaade, CO 81516 <br />Tides ~L1.~.c..s1L ~a+~ <br />The undersigned ~attts permission to l;lam Cnnstrttctioq Inc. to cvnducl exploration <br />eS'nrts for sand and gravel reaourccs on part of property permitted and owned by the <br />Powderhom Coal Company at Cameo, Colorado. It is understood Utat Elam <br />Construdioq Inc. will wnducl their explorazion efforts in accordance with the Division <br />of Minerals & Geology's Notice of lnterd to nduct Prospecting Operations form and 1 <br />will maimain liability iusurance in total aerate sum of at least 1,000,000. Elam <br />Cunslruaioq Inc. shall deliver appropriate evidence to the Powderhom Coal Company as <br />proof that adequate insurance is in force. Further, Elam Constructioq Inc. will indemnify <br />Powderhorn Coal Company from liability of any sort stemming from or coming to etdst <br />as a result of this agreement i.e. employes accident, environmental damage, etc. <br />Ci ~..eQy,,~. C~-~.f' . Daze: I l • ~ 3 - ~!'~' <br />