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successful facsimile transmission, or by certified or registered <br />mail, return receipt requested, at the address of such party. <br />determined as provided herein. <br />All notices to Seller shall be addressed to Seller at the <br />following addresses and facsimile numbers or such other addresses <br />and facsimile numbers of which Seller gives Buyer notice hereunder: <br />Axial Basin Ranch Company <br />H-G Coal Company <br />c/o P.O. Box 882323 <br />Steamboat Springs, Colorado 80488 <br />Attention: R. David Uailton <br />Facsimile: (970) 879-5412 <br />Telephone: (970).879-5412 <br />with a copy to: <br />Davis, Graham & Stubbs <br />370 Seventeenth Street, Suite 4700 <br />Denver, Colorado 80202 <br />Attention: Beat U. Steiner, Esq. <br />Facsimile: (303) 893-1379 <br />Telephone: (303) 893-9400 <br />All notices to Buyer shall be addressed to Buyer at the <br />• following addresses and facsimile numbers or such other addresses <br />and facsimile numbers of which Buyer give Seller notice hereunder: <br />Peabody Development Company <br />301 N. Memorial Drive, Suite 310 <br />St. Louis, Missouri 63102-2401 <br />Attention: J. L. Lautenschlager <br />Facsimile: (314) 342-7627 <br />Telephone: (314) 342-7696 <br />23. Governing Law. The validity and effect of this <br />Agreement shall be determined in accordance with the laws of the <br />State of Colorado. <br />24. Computation of Time. If any event or performance <br />hereunder is scheduled or required to occur on a date which is on <br />Saturday, Sunday, or legal state or federal holiday in Denver, <br />Colorado, the event or performance shall be required to occur on <br />the next day which is not a Saturday, Sunday or legal state or <br />federal holiday in Denver, Colorado. <br />25. Time. Time is of the essence with respect to each <br />provision requiring performance within a stated period of time. <br />26. Counterparts: Execution. This Agreement may be <br />executed in counterparts and, when counterparts of this Agreement <br />have been executed and delivered by both of the parties hereto, <br />this Agreement shall be fully binding and effective, just as if <br />-13- <br />