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1 <br />'J.?.~n"'ytr\T OF T. He :`? .°.IOR <br />Bl;~.~C GF r_.~~D M?.~?.G%..`;IE\T <br />Serul number C-069942 <br />I....D~ April 1, 1962 <br />COAL L~45E gEiDJUSTME^fT <br />o4RT I. '_c-15c RIGnT$ GRANTc7 <br />This lease. entered ln[¢ by and between the LINITSp jTATE50F AMERICA. iie[elnait![ Called IeaaO:. [h rpU gii [h! BUreau Of Ldrtd Menaglmen[, and <br />Robert and Elizabeth Weaver <br />P.O. Box 539 <br />Gunnison, Colorado 81230 <br />heceinaiter called lessee. !s rea¢iusied eftettly April 1, 1992 . for a period of 10 yeah and far so long cheree fter as coal ]s <br />proauced in commercial Quan[l[ies from the leased (ands. subject m readluscmen[ o(lease farina at cne eno of eaen 10-year lease oenoa. <br />Sec.:. Thts lease reaaiustmen[ is Issued pursuan[ and subjec[ [o [ne terms and provisions of the: <br />S \Slneral Lan¢s i-eamng Ac of :9?0. Acc of February 7,°.. 19^_0. as amenaed, al Stau a3'. JO U.S.C.:S1 ^9^, herematter referred [o as the Ac:; <br />G 'linerai Llasmg Aa for AcD U:red :-arias. Act of Augus[ ~. 194'.. 61 S[at. 913. 30 U.S.C. 351.359: <br />and co the regale eons Ana [¢rmei omen of the Secretary of the lnten¢r wnich are now or hereafter in force. when not :nconslstent with the express <br />ant spea!ic p:ov[swns nereln. <br />Sec.:. Lessor. in considerotlan of env ren[s. and roval[ies co be paid, and the tondittons and tovenah[s w be observed as herein set forth, hereo <br />granr~ to lessee cne exclusive rent and privilege co drill tor. mine. extract, remove. or o[nervnse process and d[spoee of :he coal aepos][a tn. upon. <br />or unaer cne :'oilowing aescnpec lanes: <br />A11 the coal in the following described lands: <br />T. l5 S., R. 86 W., 6th P.A1. <br />sec. 16, S%= of lot 1, Sli of lot 2, SW',,NEt~. <br />and <br />Onl~~ No. 2 Bed coal in [he following described lands: <br />T. IS S., R. B6 W., 6th P.M. <br />sec. 15, NWt~NW~; <br />sec. 16, Nz of lo[ I, N~ of lot 2 and NWI~NE't• <br />toncaintng 200 acres. sore ar less. together wt[h the right [o tons[ruct such works. buildings, plans. s[rucures. equipmen[ and appliances <br />Ana cne ngnt co use such on-lease ngnts-oi-way wnich may oe necessary an¢ convenien[ in the exeruse of [he ngnts and pn vtieges gran[ed, auojec: co <br />the condi[lons nereln provided. <br />?ART II. T=RM$ AND CONDITICN$ <br />Sec. t. ial RENTAL RAT= - Lesser snail pay lessor rental annually and <br />in apvan ce for earn acre or irac[ion [nereoi ¢uring the continuance of <br />cne lease ar the rate of ~ 3.00 for earn Irase year. <br />Ibl RENTAL CREDITS - Renwi snail no[ ~oe credned against either <br />proautuon or a¢vante rovaiues for any year. <br />Sec.:. lal RRDCUCTlON ROVALT:E$ -The royalty shall be (surfs <br />12.5 percent and (underground) 8.0 per- <br />cen[ of [hr value of [ne coal as sec forth in the reguielions. Royalties are <br />aue to lessor [he final say of tn2 muncn su[ceed mg the caienaar mon[h <br />in whin [ne royal[)' obiigauon accrues. <br />[bl aDvANCE ROvnLTIE$ - Uoon reouest py the leaeee. the au[honzed <br />oi:iter may accent. for a torsi o[ not more cnan !0 venrs. the payment of <br />ap var.ce royalties ]n lieu of contlnuec operation. consistent wltn the <br />leawauons. The advance roya::y snail b! bases on a percent of th! <br />value of a minimum numoer of [ons determined m [ne manner <br />estaoiisnea by [ne acvence [orally reguiacions in eifecc ac [he time the <br />lessee reaueats approval [o pay advadce royames in lieu of c¢nunued <br />operation. <br />Sec. ~. BONDS -Lessee shall maintain m [he Droner office a lease bond <br />m meemounl ot= 5,0(1(1 The au[honxea officer may rr¢wre an <br />increase :n thin amount wnen aaauienal coverage is arcermmed <br />aporopnate. <br />Sec. 4. DILIGENCE - Thls lease is subiect to the condinons of diiigm: <br />peveloemen: and ccr.en ~~d cperauon. czcept :hat tries! cundinons are <br />extuseD wnen operations unde• [he lease are in [erru pted by s[ri~xes. [..^.e <br />eiemen[s. or c:isuaitles not a[tnbutable to [he lessee The Tessa:. in [ne <br />puoiic ]n[eres[. may suspend cne conaiclon ai con[lnuea ooera [l¢n upon <br />payment of advance royalties to accordance wi[n [ne reguiauons ]n <br />existence ac the time of the suspension. Lessee s iaiiure to proauce coal <br />m commeraai ouanuun a[ the end of i0 years snail [ennmate :nr <br />lease. [ <br />- <br />The lased[ r!a!rv!! Ih[ pdwlr [O aabin[ [OOr Omer [he aUSDlp910n O[ t ne <br />farina ene condmona of this lease m accordance wan. inter aue. <br />Section 39 of the Mineral Llasmg Acc. 30 U.S.C. 309. <br />Sec. 5. LOGICAL MINING UNIT ILM UI - Ei[her upon approval by [ne <br />lessor Of Ln! Ilse!! S ap PliCallOn Or a[ tnC dlrep[lOD Oi Ln! 1!880[. [nib <br />lease aiiall become an LMU or pert of an L.\1 L~. suoleu LO the provts[ons <br />sal torn ]n cne reguia[iona. <br />The stipulanons established in an LMC approval m eifmt at the umeoi <br />L.NU approval wdl supersede cne reinvent mconaisten[ [arms o[ tnis <br />ices! so long as [ne lease remains tommittea to tnl L\1 L~. It the :-~1 C~ o: <br />when [nis ieear is a pare is dissolvec. the lease snail [nen oe su plett m <br />the lea a¢ terms wnli^ would nave bleu'PPiiCa li Lh! leave nap not blrn <br />mcluaed m xn i_\IL. <br />