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''- ~r o <br />ro coAL LEASE <br />• THIS AMENDMENT TO COAL LEASE, made effective as of October 1, <br />1996, by and between WILLIAM G. BUSH ("Bush"), as Lessor, and <br />FLATIRON COMPANIES, d/b/a WALDEN COAL CO. ("Walden"), as Lessee, <br />amends that certain Coal Lease dated May 10, 1978, by and between <br />the H-E Lowdermilk Company, as original Lessee, and the original <br />Lessors named therein, a copy of which is attached hereto as <br />Exhibit A (the "Lease"). <br />1. Background. Bush currently Duns the property which is <br />the subject of the Lease (the "Property"), and has succeeded to the <br />rights of the Lessor under the Lease. Walden has succeeded to the <br />rights of the Lessee under the Lease. The parties now desire to <br />amend the Lease as set forth herein. The consideration for this <br />Amendment is the mutual promises and covenants set forth herein, <br />and other good and valuable consideration, the receipt and <br />sufficiency of which is hereby acknowledged. <br />2. Rent. Walden agrees to pay Bush rent in the amount of <br />$250.00 per month, due and payable on the first day of each month <br />during the remainder of the Lease term, commencing on October 1, <br />1996. The rent payment for October shall be due and payable upon <br />execution of this Amendment. <br />3. Term. The term of the Lease shall continue until the <br />. Mined Land Reclamation Board of the State of Colorado releases the <br />Property from the mining reclamation plan and the bond securing <br />performance of the reclamation plan has been released. <br />4. No Right of First Refusal. Walden shall not have any <br />right of first refusal to purchase the Property in the future, and <br />Walden acknowledges that it has no right of first refusal with <br />regard to any past sale of the Property. <br />5. Memorandum of Lease. Bush and Walden shall execute a <br />Memorandum of Lease regarding the Lease, as amended, which may be <br />recorded by either party. <br />6. Remainder of Lease Unmodified. Except as set forth <br />herein, the Lease remains unmodified and in full force and effect. <br />ZN WITNESS WHEREOF, the parties have executed this Amendment <br />to Coal Lease effective as of the day and year first written above. <br />FLATIRON COMPANIES <br />d/b/a WALDEN COAL CO. <br />n ~.~.,--- C. <br />By: <br />• William G. Bush Edwin C. McDowell, Jr. <br />General Partner <br />66571 <br />10/74/% BDD <br />