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<br />THIS AGREEMENT, made and entered into this _?ja„{ day of
<br />;i ~ 1~~~:~~;. 1981, by and between all GRANTEES named in
<br />that certain Quit Claim Deed recorded in the office of theClerk
<br />and Recorder of Garfield County, Colorado as Rec. No. 202148 in
<br />Book 307 a~ Pane 506 thereof, and the heirs, devisees, personal
<br />representatives, successors in interest and assigns of szid
<br />Grantees, whose collective address for purposes hereof is
<br />c/o Albert J. Cerise, P.O. Box 16 - Carbondale, CO 81623, here-
<br />inafter referred to as "Lessors", and BLACK ROCK MINING CO., a
<br />Colorado corporation, •:iiose address is P.O. Box 984 - Glenwood
<br />Springs, CO 81602, hereinafter referred to as "Lessee", WITNESSETH:
<br />WHEREAS, North Thompson Coal Company, lessors' predecessor in
<br />interest, and Earl 6i. Rogers, Joe M. Rogers and Otto Shultz,
<br />lessee's predecessors in interest, made and entered into a COAL
<br />MItiING LEASE dated March 16, 1946 and recorded in the office of
<br />the Clerk and Recorder of Garfield County, Colorado as Rec. No.
<br />157871 in Book 222 at Page 163 thereof, and
<br />4iHE REAS, said COAL MIN It7G LEASE covers certain miner--.1 ,nd
<br />mineral rights in lands situate in the County of Garfield and
<br />State of Colorado as described in said COAL MINING LEASE, and
<br />WHEP.EAS, the lease period of 53id COAL MINING LEASE covered
<br />the period from March 16, 1946 to July 1, 1970, and
<br />WHEREAS, by COAL, HIND LEASE EXTENSION dated January 31, 1956
<br />and recorded in the office of the Clerk and Recorder of Garfield
<br />County, Colorado as Rec. No. 272549 in Rook 485 at Page 3 thereof,
<br />the lease period was extended an additional 15 years, covering
<br />the period from July 1, 1970 to July 1, 1985, and
<br />WHEREAS, said COAL MINING LEASE provided for payment of royalty
<br />based on tonnage of coal extracted with a minimum annual royalty,
<br />and
<br />I~iHEREAS, the parties desire to further extend the oeriod of the
<br />lease and amend royalty payment provisions as contained in said
<br />COAL MINING LEASE and COAL MINE LEASE EXTENSION,
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