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-- <br />Mr. Scott Patten <br />September 11, 1996 <br />Page two <br />The term of this lease shall be for 7 years from the <br />date of this lease and as long thereafter as coal and <br />other solid minerals are mined from the Leased Premises <br />in paying quantities; but no longer than coal or other <br />solid minerals are mined from the Leased Premises in <br />paying quantities, and only for as long as LESSEE <br />fulfills the conditions and covenants herein, including <br />the following payments and performances:... <br />Pursuant to the clear and unequivocal language of the Lease, as <br />amended, the Lease terminated when paying quantities of coal <br />cease to be mined from the property, in or before 1988. The <br />first righY_ of refusal in the Lease which you mentioned in our <br />conversation also lapsed when the Lease terminated. <br />Mr. Bush realizes that Walden Coal Company has continuing <br />obligations under its reclamation bond for the property through <br />1999. In order that Walden Coal Company may fulfill these <br />obligations, which require it to have a right of entry to the <br />property until the bond is released, Mr. Bush is willing to enter <br />into a lease agreement granting Walden Coal Company such a right <br />of entry for the duration of the reclamation period in exchange <br />for reasonable rental for the property. I request that you <br />contact me at your earliest convenience so that we can discuss <br />such an arrangement. <br />If Walden Coal Company is unwilling to enter into a lease <br />agreement with Mr. Bush, or I have not heard from you or someone <br />on behalf of Walden Coal Company by September 30, 1996, Mr. Bush <br />will have little choice but to proceed with appropriate action <br />which will allow him to put the property to some beneficial use <br />and receive some income from the property, or sell it for a value <br />based upon its highest and best use. <br />Your attention to this matter is appreciated <br />Sincerely, <br />BECKNER, ACHZIGER, McINNIS <br />PALO & JUNGE <br />~~~~ <br />By <br />Bryce Palo <br />BP:jw <br />xc: William G. Bush <br />f Dan Hernandez, Colorado Department of Natural Resources, <br />Division of Minerals and Geology <br />