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COAL MINING LEASE THIS AGREEMENT made effective this2s~l( day of ocfeL~,. , 1999, between William Dunn, hereinafter referred to as "Lessor" and National King Coal, LLC, a Colorado limited liability company hereinafter referred to as "Lessee". WITNESSETH: ' i That for and in consideration of the premises and the mutual agreements, obligations and undertakings as hereinafter set out and for and in consideration of the royalties and rentals reserved by Lessor and agreed to be paid by Lessee, all as hereinafter set out, Lessor and Lessee' have this day agreed imd contracted and do hereby agree and contract each with the other as follows: Section 1. Rights Granted :Lessor does hereby grant and lease unto Lessee, an undivided 7%:/72 (sevenland one-half seventy~~seconds) interest in the Menefee "A" Seam of coal, for the uses and purposes hereinafter set fortt~ for a term of five (5) yeazs commencing as of the date hereof, subject to extension or prior terminal ion as hereinafter provided, and subject to all exceptions, reservations, terms and conditions hereinafter set forth or referred to, the sole and exclusive right and privilege of prospecting and/or exploring for and muting and removing all of the minable and merchantable coal from~the Menefee i "A" Seam contained within the following described land in Pine Gulch District, La Plata County, Colorado, known as the Tipotsch property as said tracts or parcels of land are more particularly described in Exhibit "A" attached hereto and made a part hereof and also shown on a ~rnap entitled "Tipotsc:h Lease Property Map," attached hereto as Exhibit "B", and containing one hundred-sixty (160) acres more or less (the "Leased Premises"). Tt is understood and agreed, however, that the rights and privileges hereinabove and hereinafter granted and leased are and shall be construed and limited to such rights and privileges as the Lessx possesses and has lawful right to lease, and this Lease shall not be construed~ias leasing or attemptu.~g to lease to the Lessee any rights and privileges other or more than those that are vested in the Lessor. Attached hereto as Exhibit "C" as a part hereof is a Gst setting forth the ownership of the rema'uung undivided interests of other parties including the interest of the lessor hereby leased. Section 2. Exceptions, Reservations and Third Party Rights 2.1 Exceptions and Reservations Lessor hereby EXCEPTS and RESERVES the entve possession and control ofall the Leased Premises, and the coal, stone, sand, water, timber, oil, gas (including occluded methane normally Page 1 of 17