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<br />COAL MINING LEASE
<br />T1129 COAL MINING LEASE cote red into eCfectivc January 12, 1976 by
<br />and between Rout[ County, a political subdivision of the Stare of
<br />Colo redo, Eor its respective interests, by and in care eE its Ooard aE
<br />County Commissioners, Rout County Court Ilousc, Steamboat Springs,
<br />Colorado 80477, hereina Fte[ referred to as Lessor, and G.R. Grace 6 Co.,
<br />a Connecticut Corporac ion licensed to do business in Colorado, wi[R
<br />offices at 79]5 E. Prentice Avenue, Building 40 West, Englewood, Colorado
<br />80110, hereina[ter re Ee tted to as Lessee:
<br />WITNESSETII, Lessor, for and in consideration of the sum of six C'J
<br />eight hundred dollars (56,8001, the receipt and sufficiency of which are
<br />acknowledged by Lessor, and payments and agreements herein covenanted
<br />unto Lessee the exclusive right and privilege of exploring and pros-
<br />pecting Lot, and mining and taking coal Erom, in and under the land
<br />he reinafcer described, situate, lying and being in the county of Routt,
<br />Stale of Colorado, to-wit:
<br />Township 5 North, Range BR West of the 6th P.M.
<br />Section 19: Got 11, II, 15, 16
<br />Section 28: SWS
<br />Section 30: Lot 5, 6, 9, 10, lI, 12, E5
<br />Section 71: Lot 5. 6, 9, 30, 13, 14, 17, 1B, NE4
<br />1360 Acres
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<br />containing 3360 acres, more or less, hereinafter referred to as "leased
<br />premises". It is acknowledged that there may he discrepancies between
<br />the foregoing description and the description of the leased premises in
<br />applicable or governing surveys or title instrvments. If such dis-
<br />crepancies are found to exist, the parties agree to amend this lease as
<br />necessary to con EOrm to the proper description of the leased premises
<br />and to adjust the stated acreage as may be appropriate. Such amendment
<br />shall be effective as of the effective date of t]!is lease.
<br />The leased premises are herehy leased, let, and demised to Lessee
<br />for the purpose of surveying, exploring, prosper tingr developing,
<br />removing, extracting, processing, mining (by undergound, open pit,
<br />auger, strip or any other method! recovering, and transporting coal and
<br />coal deposits in, upon or underlying the above-leased premises, izrespactive
<br />of and without regard to the number of separate seams or deposits of
<br />coal and substances underlying the leased premises, and without regard
<br />to the depth beneath the surface at which such deposits may be found,
<br />and including such otRer mineable substances in the leased premises that
<br />are either apart of, in association with, or in such near proximity to
<br />the deposits of coal that Che same can be profitably mined, extracted,
<br />processed, transported and removed as a part of the same mining operation
<br />in which such coal is removed, and for the further purposes of conveying
<br />through and under said lands, men, machinery and materials and the waste
<br />products of mining. For all of the above purposes, the rights granted
<br />the Lessee herein ere exclusive.
<br />1. TERN OF LEASE. a. Lessee shall hold the above described rights
<br />and tote tests for a primary term of Cen (10) years Erom the effective
<br />date hereof and so long thereafter as operations as sac Eocth in the
<br />precetl ing patag raph above are conducted hereunder on a continuous basis
<br />in good faith. For this purpose, mining, processing or development
<br />operations shall he deemed [o be continuous so long as all such operations
<br />do oat tease Eor a Veriod of more than ninety (90) consecutive days. In
<br />the event Lessee i5 unable to obtain a satisfactory market for coal
<br />discovered or produced on the leased premises, and as a result Lessee
<br />delays commvneen+cnt of devc loymm~cs, mining, process ing or marketing
<br />operations huyond the cud of the puma cy term, or Erom time to time
<br />suspends such operations after rho end of Che primar}• term, then this
<br />lease shall oat expire or tecminaco during such periotl uE lock of nu rket
<br />but may be extended by Lrsscr.'s reswning payment of do lay rrn Wls, as
<br />provrded for in Suction 4, on the next anniversary date following
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