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~~= III IIIIIIIIIIIIIIII
<br />999
<br />COAL MINING LEASE
<br />This Lease made this i3 ~ day of October, 1984, effective October
<br />1, 1984, between LOUIS J. GIULIANO, IRENE GIULIANO and DIANA G.
<br />BOLESKI, Co-Partners doing business under the name and style of
<br />GUILIANO 6 SONS COAL COMPANY, City Of Florence, County of Fremont.
<br />State of Colorado, herein referred to as Lessor or Lessors, and
<br />TWIN PINES INVESTMENT LIMITED PARTNERSHIP, County of Fremont, State
<br />of Colorado, herein referred to as Lessee.
<br />In consideration of the sum of Royalty Payments Dollars paid to
<br />him by Lessee, receipt of which is acknowledged, the rents and
<br />royalties reserved herein, and the covenants and conditions
<br />contained herein, Lessor hereby leases to Lessee, for the purposes
<br />set forth herein, all coal contained in and lying under the surface
<br />of the following-described real property in Fremont County, State
<br />of Colorado:
<br />see Exhibit "A" attached hereto and incorporated
<br />herein by reference
<br />such real property being referred to herein as the demised
<br />premises.
<br />MINING RIGHTS: Lessee shall have the exclusive right to mine,
<br />extractr and remove all ecomonically recoverable coal in, on or
<br />under the demised premises for the exclusive benefit and use of
<br />Lessee,' and to conduct such mining operations by such method as
<br />Lessee shall determine.
<br />Lessee shall have the unrestricted right to use the subsurface
<br />of the demised premises for any purposes in connection with its
<br />mining operations on such premises or on any other mining area
<br />that, at any time during the term of this Lease, shall be owned,
<br />leased, operated, or controlled by Lessee. The right granted
<br />Lessee hereunder shall include, without limitation, all mining
<br />rights, privileges, franchises, and immunities of. every kind and
<br />nature whatsoever that are necessary or covenient, or that Lessee
<br />in his judgment shall deem to be necessary or convenient, for
<br />carrying on mining operations, or for mining, extracting, removing,
<br />or marketing all coal contained in or under the demised premises or
<br />in~or under any such other coal area.
<br />TERM: Lessee shall hold the demised premises during the term
<br />of five years from the date hereof, or until all of the coal
<br />contained in such premises has been mined, extracted, and
<br />recovered, or until the demised premises are no longer needed by
<br />Lessee in connection with the mining, extraction, and removal of
<br />coal from any other premises within the general mining area of the
<br />demised premises that at any time while this Lease is in effect may
<br />be owned, operated, or controlled by Lessee, whichever period is
<br />the longest.
<br />EXPLORATION OF PREMISES: Lessee shall have the exclusive right
<br />to enter on the demised premises and to explore, prospect, drill,
<br />or otherwise test the same for coal, with the right of free access
<br />for such persons, tools, machinery, and equipment as Lessee may
<br />deem necessary at any time after the date hereof. Lessee will pay
<br />to Lessor the fair value of any growing crops that may be destroyed
<br />in the course of such work.
<br />MINERALS INCLUDED: As used in this instrument, the term "coal"
<br />shall not include petroleum and gas but shall include coal, slate,
<br />and fireclay.
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