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Fax~3038663558 <br />JUN-70-07 03:12PM FROG-IpYE. G~ O'KEEFE <br />Jun 30 '99 15 48 P. 06 <br />3032oid5i0 ~ T-702 P.O2/04 F-371 <br />Sicsa Minerals Corporation, a Colorado Corporation ("Sierra"), is the op¢rator of <br />certain mineral inter-sts locoed in Ounnison County, Colorado, and has the rigln to <br />enter itlw and conduct operations to mine Dimension Marble and Waste Marble, in <br />accordance with the terms of a Lease Agreement between Sierra and OMYA, lnc., a <br />Vermont Corporation ("OMYA"), more Fully described in Exhibit "A" attached <br />hereto as the "OMYA Preperty." <br />2. Stars is the current owner of a Note and Deed of TYwr originally granted by <br />Colorado yule Marble Company ("Colorado Yulc'~, et ai. for the benefit of lnvestec <br />Getup Iavestmeau {LIIC), f/k!a Hambro £nvesvnents Liatited, and Pietors Bath Stone <br />Litaited (L1CG), secured by an intttest in real property known es the White Marble No. <br />2 Placer Mining Claim, {togctha with other leads not subject to Sierra's permit <br />appHcatioa), more 11r11y described on ):7dliDii "A" as the "Mhite Marble 2 Prapaty." <br />Sierra has initiated judicial forecloswe proceedings on the Wltite Marble 2 Marble <br />Property. Sierra acknowledges that its rigtrt to conduct operations on the V/hite <br />Marble 2 Property is conditioned upon an order of sale for the White Marble 2 <br />Property issued in accordance with C.R.C.P. 105, a foreclosure salt and tine issue of a <br />Certificate of Purchase in accordance with § 33-38-401, C.R.S., and the issuance, <br />upon conclusion of the redemption period, of a sheriff s deed in accordance with § <br />38-38-501, C.R.S• <br />3. Siena has filed an appGcetion with the Colorado Division of Minerals and Geology <br />(the "Division's for a permit pursuant [o § 3432.110, C.R.S., to cover and include <br />the OMYA Property and the White Marble 2 Propczry (collectively rhe'Pccmit <br />Lands'. Sierra acknowledges cad agrees thu nay pe[atit issued that includes the <br />White Marble 2 Propcny shall be expressly conditioned upon Sierra's agreement that <br />Sierra will conduct no raining operations and further will not disturb shat portion of <br />the Permit Lands included is the Whim Marble 2 Property wail such time as Sierra <br />has received a sheriff s deed vesting tide in and to the White Marble 2 Property in <br />Sierra. Siesta further agrees that prior to conducting any operations on the White <br />Marble 2 Property Sierra will provide to the Division and the Orrice of Mined Land <br />Reclamation a copy of the final vesting deed. <br />4. !f for any reason Siesta does not acquire unconditional title to the White Marble 2 <br />Property Steele shall so notiYy the Division sad the Office of Mined land <br />Reclamation and shall relinquish any claim Sierra, err any parry that may claim <br />througb Sierra, may have to any conditional right granted in a permit issued by the <br />Division that includes the White Marble Z Property. Sierra further ogees that it will <br />execute and provide to the Office any instruments necessary to modify the permit <br />accottlingly. <br />