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' . <br />GRAVEL LEASE AOR~NT <br /> THIS AGREEMENT, made and entered into this ~Lrrday of. <br /> ,ran~~_, 19~ by and between M. CU'L%JtNS, <br /> <br /> •personal representative for the estate of WI1J..IAM P. C07.7_£NS, <br /> deceased ("Cozzens"), and PEABODY COAL COAIPAIVY, a Dc•7aware <br /> corporation ("Peabody"). <br /> WHEREAS Cozzens by Option Agrce:m•nt dated Novcml:er 16, <br /> 1478 granted Peabody an option to purchase certain real <br /> property (the "Property'? situated in Routt County, Colorado, . <br /> excepting from purchase, however, an undivided one-half <br /> interest in gravel; and <br /> WHEREAS said Agreement permits Peabody to extract and <br /> utilize free of charge.euch gravel as it may require to <br /> construct and maintain•a coal haulage road upon the Property <br /> • in the event said option ie'exerciaed; and <br /> WHEREAS, Peabody chose to exercise such option; and <br /> WHEREAS, the.partiea~deaire to provide for the leasing <br /> of additional gravel upon the terms hereinafter provided. <br /> NOW, THEREFORE, in consideration of the rents to be <br /> paid and the mutual'covenante herein contained, the adequacy <br /> and sufficiency of which is hereby acknowledged, Cozzens <br /> does hereby lease unto Peabody any and all such additional <br /> gravel upon the following terms and conditions: <br />1. The Property. Cozzens does hereby let and lease <br />unto 7?eabody Cozzens' undivided one-Half interest in all of <br />the gravel deposits contained upon, under or in .the Property <br />described as follows: <br /> <br />Township 6 North, Range 87 West of the 6th P.M.: - <br />Section 17: SWk <br />Section 18: Lot 4 and SEk <br />Section 19: Lots 1, 2, 3, Ek, E$W} <br />Section 20: W} <br />Section 28: N$NWk, swkN4lk, NWksWk <br />Section 29: N41kNWk <br />Section 30: NEkNEk <br /> <br /> <br /> <br />