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iii iiiiiiiiiiiiiiii SUN COAL COMPANY 10200 West 44th Ave., #120 ~ =~~~~=~~ Wheat Ridge, CO 80033 ~!!:'~i 26 tQs4 (303) 422-8064 ~, October 7, 1993 FAX (303) 467-0714 ' John A. Ei]ts 565 Sand Rock Drive Craig, CO 81625 Mystic Star Route Steamboat Springs, CO 80487 FIRST CI ASS AND CF,RTIFIED MAIL RETURN RECEIPT REQUESTED RE: Sun Coal Company, Inc. ("Sun Coal") Lease Dear John: As you are probably aware, pursuant to the terms of the November 1, 1983 Stipulation of Judgment and Decree, Settlement Agreement and Mutual Release ("Decree"), which was issued by the Routt County District Court and which modifies the provisions of the Amended and Restated Coal Mining Lease, dated May 15, 1975, between Allie and you and Sun Coal ("Lease"), the ten-year term of the Lease, as reduced by the terms of paragraph 2 (c) of the Decree, will expire on November 1, 1993. Although Sun Coal was granted the option to renew the Lease for two (2) additional terms of five years each, exercisable one five-year period at a time, Sun Coal chooses not to exercise its option to extend the Lease for an additional five-year term. This letter will service as formal notice that Sun Coal wi1I not exercise such option, and the Lease shall terminate on November 1, 1993. Since Sun Coal's Reclamation Bond posted with the Colorado Mined Land Reclamation Division ("CMLRD") has not been fully and completely released, pursuant to paragraph 4 of the Decree and paragraph 4 of the July 14, 1988 Settlement Agreement and Release, Sun Coal retains and shall have "full and open access into, over and through the Leased Premises following any such termination [of the Lease] for the purposes of performing all required inspection and maintenance on the reclamation work." Sun Coal and representatives of CMLRD will continue to inspect and perform any required maintenance on the reclamation work until the Reclamation Bond has been fully and completely released by CMLRD.