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f. This Lease maybe executed in several counterparts any one of which may be <br />• deemed an original if executed by the party against whom enforcement of this <br />Lease is sought. <br />g. Each party agrees to execute and deliver, or cause to be executed and delivered, <br />after execution of this Lease, such documents or instruments reasonably requested <br />in order to further the purposes of this Lease and the activities of the parties <br />contemplated under this Lease. <br />20. Waiver <br />The failure of a party to insist on strict performance of any provisions of this Lease, or to take <br />advantage of any right hereunder, shall not be conswed as a waiver of such provision or right. <br />21. Memorandum <br />Lorencito shall prepaze, and the parties hereto shall execute, acknowledge and record, a <br />memorandum of this Lease sufficient to give notice to third parties of the existence of <br />Lorencito's rights hereunder and the rights and interests herein reserved to MGP and the Hills, to <br />the extent of their respective interests in the Leased Lands. Any party hereto may record a copy <br />of this Lease, with the royalty rates and payment amounts deleted, if it reasonably believes <br />recording thereof is necessary to protect its rights and interests. <br />22. Arbitration <br />The parties agree to make good faith efforts to amicably resolve all controversies, claims and <br />matters of difference arising under this lease. If they are unable to do so, either party may <br />demand in writing that a specified dispute be submitted to a one-day, non-binding mediation to <br />be conducted by the Judicial Arbiter Group (or similar commercial dispute resolution center) in <br />Denver, Colorado, within 30 days of such demand. If such mediation does not result in <br />settlement of the dispute, the dispute shall be submitted to arbitration. Arbitration shall be <br />conducted in the metropolitan Denver, Colorado area (unless otherwise agreed by the parties), in <br />accordance with the Commercial Arbitration Rules of the American Arbitration Association, <br />except to the extent such rules conflict with the express provisions of this Section. Arbitration <br />hereunder shall be by three independent and impartial arbitrators. Each of the parties shall <br />appoint one arbitrator within 30 days after the mediation provided for above. The two arbitrators <br />so appointed shall select a third arbitrator within 45 days after such notice, failing which the <br />American Arbitration Association shall select the third arbitrator. The three arbitrators shall <br />conduct a hearing no later than 180 days after such notice, and the arbitrators shall render a <br />decision within 30 days of the hearing. At the hearing, the parties shall present such evidence and <br />witnesses as they may choose, with or without counsel. The arbitration panel shall consider any <br />evidence and testimony that it determines to be relevant, in accordance with procedures that it <br />determines to be appropriate. Any award entered shall be made by a written opinion stating the <br />reasons for the award made. The arbitrators may awazd legal or equitable relief; including but not <br />limited to specific performance, and may award the costs and fees, including attorneys', <br />arbitrators and expert witness fees, to the prevailing party. Such awazd shall be final and binding <br />r~ <br />LJ <br />COAL LEASE FMAL 6.25-0l.doc 14 <br />