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<br />UNl'IFD STATES
<br />DEPARTMENT' OFTI-IE INfF1ilOR
<br />BUREAU OF LAND MANAGEMENT
<br />Preference Right Sodium Lease
<br />Serial Numbr
<br />C-0118329
<br />t+e0r ~~7~ .i'~i: ~~~
<br />PART 1. LEASE RlGH7'S GRANTED. ~:~ :' -~- "~ :n"30.thccr a,Ida_.As ~~~~
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<br />...,_._.._ 7AAA')C lam
<br />This kale, entered into by and between the UNITED STA OTES F AMERICA, duough the Buruu of Land Management, hereuutterealleA L^4¢
<br />and
<br />Yankee Gulchloint Venoae
<br />c/o William B. Collister
<br />6320 East Fourth Avenue
<br />Denver, Colorado 80220
<br />hereinafter called lessee, is effective JAN 1 1992 for a period of 20 years. with preferential right in the lessee m renew for sueeessis
<br />periods of 10 years coder r,"h term: anC eon:iucrs:s ray be pcssQibai by u~o Secctetary of the Interior, cruces oNerwise provided by hr:
<br />the expiration of any pertod, and provided that the sodium is being produced m payutg gttanciria at the end of the initia120-year period aod,:
<br />renewed. at use end of each ~,"""K~ve !0•year period.
<br />See. 1. This lease u issued pursuaat and subiett m the terms and provisions of the Mineral Leafing Act of 1920, az amended and supplertx~t
<br />41 StaL 437, 30 US.C.181-287, hereinafter referred to az the Ace and w the reguladoru and formal orders of the Secretary of the Intuior whit
<br />are rrow or hereafter in farce, specifially inclttdiag, but not limited to, 43 CFR 23 (to the same a:ten[ as if Ne operariotu tmdv this kale wa
<br />~~ rnmmg), 3500, 3520, and 3390, whey nor[ inconsistent with the exprea and specific provisioru herein.
<br />Sec. 2. Lessor, in consideradoa of tetus and royalda m be paid, and the conditions and covenants in be observed az herein set faith, hereby gtas
<br />artd kaza to lessor the exchtsive righ[ and privilege to explore for, drill tor, mine, extract, rrmove, benefciate, soneentrau, or otherwise prates
<br />and dispose of the sodium deposits io the Saline Zone, hereinafturtferred to az"kased deposits," in, upon, or undo the following darsibed hints
<br />T. 1 S_ R. 97 W., 6dt P.M.
<br />sec 19, lots 1 to 4, inclusive, E'h and E'f.W'h;
<br />sec. 20, all;
<br />sec 21, S'f,SW/ and E'fSE'/.; ~m
<br />set 22, lots 1 m 14, inclusive: ~
<br />- ? x
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<br />see. 28, E'f.NE%., SW'/.NE'/., and W f.NW'/.; 0
<br />"'r-'^
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<br />sec. 29,Nh, ~Dy
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<br /> C .". ~ O
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<br />containing 252.88 acres, mote or less, together with the right to cortswct etch works, buildings, Plants, strucrtaes. Cghipment and apples
<br />and the rightw usesuch on_leasetightsof-way which may be necessary andcoaventeatin theese:cise of the rights and~ivileg~,~tted,sobp
<br />ID the CondiaOnS herein prosided. W
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<br />Sec 3. DEFINI'IZONS. The following deGaitions shall be used io die interpretation of this lease: tb <?
<br />_
<br />(a) "Oil Shale" is a fine-gained sedimentary rock containing organic trtaaa which was derived chiefly from aquatic a ;**;a++~ or waxy spta
<br />orpollen gains, which is oNy slightly soluble in ordinary peuokum solvents, and of whichalarge proportion is distillable i»m artifcial penoi®
<br />Thisrcsmisappliabletoany 'tangs'i~o^=,t~rbomte.orsilieeoussedimennryrockwhichwillyieldoilupoodamtaive nt"•;^^.Indtisl~
<br />"desauedve disdlladon" mans the process of dtcomposimn o[ oil shale whew beat is applied m a tentperaace a[ which the bydtoorbams
<br />converted m vapors and/or liq,';~~ .
<br />(b) "Saline Zane" in this lease means the lower pan of the Parachute Creek Member of the Grua River Fomtation in the Piceatce Creek Bay
<br />the topof whiehzone isdtlmeduanypoia[ by ~~t.=+~"*-~a+"'dissoludoastuface" acrd the boaoat of which is defineda[aaypoim by theha[ia
<br />marks tksigrtated as the "Blue Mariux," which forms the approximate base of the Parachute Ctuit Member.
<br />(c) "Erased deposits" mearu (1) all sodium compounds and any related products thereof in the Saline Zone no[ intermingled with oil shL
<br />a• eging 25 gallons of shale oil or more per inn of rock mined (hereinafta:nferred to az 'y3 g.p.t. oil shale', etch average to be detettaioc
<br />n....nly foreach calertdarmonth bymodifiedFurhesassays of thera~k mined by lesser forproettsing orberteA";"~~ byany method and (.~ a
<br />sodium compounds and any related prodtcts wiNin the Saline Zone which are uttermingkd with 25 g.p.t oil shale and which art be titian
<br />extracted, Processed. bet[efieiated, ttsW, and dis,,osed of without Ne destructive t5stilladon of the 25:g.p.t. orl-'shale and withom sigttifiramt
<br />changing the compositiat of the 25 g.p.t. oil shale or rendering it more unsuitable in any ma[erial respect for developmen[, retorting. ptarssiQ
<br />rue. err disp~osidoa As used herein, the term "related products"shall, in no event, include oil shales
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