|
EXHIBIT GS-I
<br />Foam 31: ~-1 UNITED STATES
<br />(October 1967)
<br />DEPART6[ENT OF T}iE INTERIOR
<br />~: BUREAU OF LAND GIANAGEh1ENT
<br />COAL LEASE
<br />Land Office Serial Number
<br />C-0125515
<br />1?58
<br />This (ease, enle~cd into on ~j.A'{ 1
<br />through the Bureau of Land Management, and
<br />Industrial Resources Inc.
<br />P, 0. Boz 1008
<br />Glenwood Springer Colorado 81601
<br />by the United States of America, the Irssor,
<br />
<br />,the lessee,
<br />pursuant and subject to the terms and provisions of the act of February 25, 1920 (41 Slat. 43•n, as amended, hr:ein-
<br />atler referred to as the act, and to al] reasonable regulations of the Secretary of the Interior now or hereafter in force
<br />which are made a parthereof,
<br />WITNESSETH:
<br />~c. ~1. Rights o~ Lessee. The lessor, in consideration of the rents and royalties to be paid and the conditions U be
<br />obsecved as hereinafter set forth does hereby grant and lease to the 3essee the exclusive right and privilege to . ine
<br />and dispose of all the coal in fhe following-described tracts of land, situated in the State of Colorado.
<br />T. 7 S., R. 102 W.~ 6th P.H.
<br />See. 27: All
<br />Sec. 28: All (Coto 1-5 incl.
<br />E~~~r ~r 51a
<br />See. 33: All
<br />Sec. 34: All
<br />containing ~ 2559.98 acres, more or less, together with the right to construct all such works, buildings, plar?s,
<br />structures, and appliances as may be necessary and convenient for the mining and preparation of the coal for marl~t,
<br />the manufacture of coke or other products of coal, the housing and welfare of employees, and subject to the conditicns
<br />ern provided, to use so much of the surface as may reasonably be required in the exercise of the rights and priri-
<br />~s herein granted. _
<br />Scc. 2. ]n consideration of the foregoing, the lessee
<br />hereby agrees:
<br />(a) Bond To maintain the bond furnished upon
<br />the issuance of this lease, which bond is conditioned
<br />upon compliance with all the provisions of the lease,
<br />and to increase the amount or furnish such other bond
<br />as may be required.
<br />(b) Rental To Pay the lessor annually, in ad-
<br />vance, for each acre or traction thereof covered by this
<br />lease, beginning with the date hereof, the following
<br />rentals: 25 cenle fo: the first year, 50 cents fo[ the
<br />second, third, fourth, and fifth-years, respectively; and
<br />S1 for the sixth and each succeeding year during the
<br />continuance of the lease, such rental for any year to be
<br />credited against the first royalties as they accrue under
<br />the lease during the year for which the rental was paid.
<br />30 days from the expiration of the quarter in which fie
<br />coal is mined. $ee additional royalty oII
<br />reverse aide.
<br />(d) Afinimum production. Beginning with the sirs
<br />year of the lease, except when operations are intrr- i
<br />rupted by striYes; tile- ale aients,-vr-casna}:<--~...~_~1
<br />attributable to the lessee, or unless on application a-d
<br />showing made, operations shall be suspended G~hca
<br />market conditions are such that the lessee cannot o?- I
<br />erate except at a loss or suspended for the o:hx
<br />reasons specified in section 39 of the act, to mine coil
<br />each year and pay a royalty thereon to a value of Sl pa ~
<br />acre or fraction thereof. Operations under this ]eax
<br />shall be continuous except in circumstances described
<br />or unless the lessee shall pay a royalty, less rent, m
<br />such minimum amount o[ the leased deposits, for ore
<br />year in advance, in which case operations may lx
<br />suspended for that year.
<br />(~) Royalty. To pay the lessor a royalty of
<br />cents on every ton oI 2,OD0 pounds of coal mined during
<br />the first 20 years succeeding the execution of this
<br />Icase, Royalt ics shall be payable quarterly within
<br />(e) Payments. To make rental payments to t}e
<br />manager of the appropriate land office, except the
<br />when Ibis lease becomes pr oduclive the rentals an[
<br />
|