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III IIIIIIIIIIIII III <br /> 999 <br /> MEMORANDUM OF SURFACE USE AGREEMENT <br /> I <br /> THIS AGREEMENT entered into this_L2tday of z!�j''W 1996 ("Effective Date") <br /> by and between Marvin D. Banes and Constance L. Bancs, husband and wife ("OWNER") with an <br /> address of P. 0. Box 635, Cedaredee. CO 81413 and COTTONWOOD LAND COMPANY, a <br /> Delaware corporation ("CLC"), with an office at 1475 Pine Grove Road, Suite 207, Steamboat Springs, <br /> Colorado 80487, its successors and assigns, whereby in consideration of the sum of Ten Dollars (S10,00) <br /> and other good and valuable consideration, the receipt of which OWNER hereby acknowledges, and in <br /> further consideration of the mutual covenants set forth below, OWNER hereby grants unto CLC the right <br /> to enter, conduct certain operations for the purpose of exploring for coal and other minerals, and conduct <br /> environmental monitoring and other activities associated with obtaining a coal mining permit, on, under and <br /> across the following described lands located in the County of Routt, State of Colorado(`-Property"): <br /> Township 5 North. Range 88 West. 6th P.M. <br /> Section 7: Lots 7, 3, 10, 12 through 17 <br /> Section 18: Lots 6 and 8 <br /> containing 333.51 acres <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 Near-to-%ear basis thereafter. bs CLC paying to OWNER on or before the expiration of the <br /> Primary Tent, 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 die Parties for die term of this <br /> Agreement and am extension of such term. <br /> IN WITNESS WHEREOF, the Parties halve executed this .agreement in duplicate as of the date <br /> first above wrincn. bN their own Band and deed. <br /> OWNER: COTTONWOOD LAND CONIPANY <br /> By <br /> Mamn D. Barnes. husband Its: � �6 <br /> /n <br /> Constance L. Barnes. wife C� <br /> STATE OF COLORADO <br /> SS: '. <br /> COUNTY OF <br /> The foregoing instrument was acknowledged before me this 30 �av pf" C 1996 <br /> by Marvin D. Banes and Constance L. Bancs. <br /> Witness my hand and official seal. <br /> Notary Public <br /> MN conumssion expires: ( - <br /> 45'a57 E- 7 ' 1 F- 11 = 0,c/21/96 C% : 27F FG 1 OF 2 PEC DOC <br /> ha/ 'We ', niand Putt County C1=r;:: ; Pecorder II . 00 <br />