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• default within sixty (60) days of Hill Ranch's written notice specifying the event of default. If the default is a default in the payment of an amount of money due Hil] Ranch, or payments made by Hill Ranch for the benefit of Lorencito, Lorencito shal] have Sfteea (15) days after receiving Hill Ranch's notice to make the past due payment. All past due payments will incur a penalty of ~ percent (~%) interest, on an annual basis, for such past due payment from the date due until paid. Assignment and Sale Ibis Agreement may not be assigned by Lorencito without the written approval of Hill Ranch, which approval shall not be unreasonably K7thheld, provided that Lorencito may assign an interest in this Lease to lenders as security for financing the development of coal production on the Leased Lands. 8. Notice Any notice required pursuant to the terms of this Agreement shall be deemed valid three days after being mailed, certified mail, return-receipt requested, to or from the following (or to such other addresses as the parties may in the future provide to each other by written notice): )f from Lorencito to Hill Ranch, any notice shall be sent to: Hill Ranch 3974-C Highway 67 West • Glen Rose, Texas 76043 If from Hill Ranch to Lorencito, notice shall be sent to: Lorencito Coa] Company, LLC 4422 Bryan Station Road Lexington, KY 40516. With copies to: Robert A. Bassett, Esq. Dorsey & Whitney, LLP 370 17th Street, Suite 4700 Denver, CO 80202 9. er cr The terms and conditions of this Surface Use Agreement and the Coal Lease contain the full and complete agreement between Hill Ranch and Lorencito regarding the Leased Lands. The written provisions in this Agreement and the Coal Lease supersede all prior or contemporaneous, oral or written, cotnmunications and agreements between Hill Ranch and Lorencito. S[1WACE AGRT FINAL 6.23-0~Aa