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.~ 591869 (, : ~~~ ~~~~~~~~~~~~~ ~~~ <br />>resnoi+.------- ....w.~ sss <br />i.o..~ 01:3~_..'a.a_1 - ~ •.ZL~ .1`11 . <br />MEI170RANDUM OF LEASE <br />THIS MEMORANDUM OF LEASE is made and entered into, effective <br />the 1st day of January, 1990. <br />The parties hereinafter named have entered into a lease agreement <br />with respect to the property herein described for the term herein set forth: <br />1. PARTIES: The parties to the lease agreement and their <br />addresses for all purposes hereunder are: <br />a. Lessor: Poor Daughter's Coal Company, Inc. , a Colorado <br />corporation, c o Zane J. Lubin & Associates, 12700 Ventura Blvd., Suite <br />190, Studio City, California 91609 (hereinafter "Lessor"); and <br />b. Lessee: National King Coal, Inc. , 1015} Main Avenue, Post <br />Office Box 2905, Durango, Colorado 81302 (hereinafter "Lessee"). <br />2. PROPERTY: The Coal Lease with respect to which this <br />Memorandum pertains a'I~ects the real property described on Exhibit A hereto <br />attached, the contents of which are incorporated by reference herein. <br />3. .TERM OF LEASE: The Coal Lease between the parties <br />hereinabove named is for a primary term of ten (10) years from 'the date of <br />execution of said agreement, and said Lease provides that, it will continue as <br />long thereafter as coal or related ore is being mined, processed or marketed <br />from the leased premises or from adjacent lands accessed by underground <br />mining shafts through the leased premises. <br />IN WITNESS WHEREOF, the parties have executed this Memorandum <br />of Lease this 1~7t1-day of ~'{'~ytcj,, 1990. <br />Att~st:~ <br />C,U~9- sf~,~~r~~y <br />Fred Fox, Jr., cretary <br />POOR DAUGHTER'S COAL COMPANY, <br />INC., a Colorado corporantion, t~ ~ <br />B y : `~ ~"" <br />Zane bin, President <br />~ii- <br />~ ' .~ <br />Atle <br />~, - <br />" ecretary ' <br />v <br />.> <br />NATIONAL KING COAL, INC. <br />~. <br />Titl r3.~.r,o~„•7 <br />