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<br />PROPERTY LEASE <br />Facility: Snowcap Coal Property <br />Plat/Tract: Section 34, Township 10 South, Range 98 West, Mesa County, Colorado <br />This Agreement by and between SNOWCAP COAL COMPANY, Lessor <br />(hereinafter called the "Company") and PROVIDENCE PLACE, INC., Lessee, whose <br />mailing address is 3677 G 4/10 Road, Palisade, CO 81526. The telephone number is <br />(970-464-7201). <br />Witnesseth: The Company, in consideration of rents and covenants herein <br />contained and by said Lessee to be paid and performed, hereby leases to said Lessee the <br />following described property for storage, agricultural and retail purposes. Said property <br />being 2.SSf acres situated in Section 34, Township 10 South, Range 98 West, Mesa <br />County, Colorado. Property leased is shown and delineated as a portion of Area lA, <br />shaded in yellow on Exhibit "A", attached hereto and made a part hereof. <br />1. This Lease shall be for the term of six (6) months and month to month <br />thereafter, commencing on the first day of _, 2005. <br />2. Consideration for this Lease shall be One Dollazs ($1.00) for the entire term, <br />entire sum payable in advance upon execution of this Lease. As additional consideration <br />Lessee hereby agrees to keep and maintain the property in a clean and neat condition. <br />Lessee acknowledges that Company shall not be obligated to make any improvements <br />whatsoever to the real estate or facilities thereon. <br />3. The granting of this Lease to the herein named Lessee does not imply that it <br />will be renewed at its expiration; nor imply that any renewal will carry the same terms <br />and conditions. <br />4. This Lease will be cancelled either upon the sale of this property to Lessee or <br />sixty (60) days following a denial by the Colorado DMG for the request of land use <br />change. Upon the cancellation of this lease as stated above Lessee agrees to vacate in an <br />orderly and prompt manner. <br />Lessee shall not assign this Lease or sublet the property. <br />6. The Lessee shall not cut or permit to be cut, any growing and/or mazketable <br />timber on the leased property. <br />7. Lessee shall not construct any building, dwelling, or structure of a permanent <br />nature on the leased property. Lessee shall be permitted to install a septic system on the <br />leased property and Lessee may alter the structural, electrical or mechanical condition of <br />