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WHEREAS, the City desires to mitigate the industrial appearance the Mining Operation will cause to the City of Rifle's entrance over the next thirty years, to mitigate the loss of aesthetic value of riparian habitat and to provide a more pleasing visual appearance during and after mining operations. NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: AGREEMENT I . Incorporation of Recitals. The foregoing recitals are incorporated herein by this reference. A. Requirements of Roaring Fork Resources, Inc. 2. Receipt and Compliance with All Agency Permit Requirements. This Agreement is subject to Operator's receipt of any and all federal, state and local agency permits required to develop and operate the Mining Operation. Further, Operator shall comply with all terms and conditions of the aforementioned permits, and violation of any such permit or provision thereof shall constitute a violation of this Agreement. 3. Mining the Renewable Resource Area. Operator shall withdraw any and all plans and requests to mine the Renewable Resource Area and all portions of the Mining Operation property located north of the Renewable Resource Area, as more fully set forth in the DMG Permit Application, from all agency permit requests and any and all mining operation plans in perpetuity. 4. Payment of Fees and Costs. Operator shall reimburse the City for all engineering and attorney fees and costs incurred by the City in association with review of the mining operation, landscape plan, watershed permit and flood plain study and the preparation and approval of this Agreement. As of July 31, 2001, the City has expended $33,282.87 for these purposes; however, Operator's obligation to reimburse is ongoing and the City expects in incur more expenses for these purposes in the future. 5. City of Rifle Water Intake Sttvcture. To mitigate the risk of increased flood hazard isolating the City's water intake structure and to mitigate water quality issues, Operator will pay the Ciry $250,000. The money shall be payable $150,000 at the end of the first calendar year that mining operations commence and $10,000 at the end of each calendar year thereafter until the $250,000 total is reached. The $10,000 payments shall escalate each year by five percent (5~) compounded annually, commencing with the first $10,000 payment 1~\1W]\Cliems\R1FLE\R-JJ\Agrceme,usUlining O{~Agreemeni.wpd August B, 2001 '2-