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~'/v RF.l/~ll iV! <br />~/r.9.rrsF.c=>fBED <br />SURFACE ITSE AGREEMENT ~//S'/J~4!'OF <br />THIS AGREEMENT entered into this~3 day of 1996 ("Effective ~/sxi.t:y <br />Date") by and between LOUIS M. R'YMAN ("OWNER") with an address f PO Sox 477, Craig, ~~~ <br />Colorado 81626 and COTTONWOOD LAND COMPANY, a Delaware corporation ("CLC"), with an <br />office ai 1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its successors and <br />assigns, whereby in consideration of the sum of Ten Dollars ($10. 00) and other good and valuable <br />consideration, the receipt of which OWNER hereby acknowledges, and in further consideration of the <br />mutual covenants set forth below, OWNER hereby grants unto CLC the right to enter, conduct certain <br />operations for the purpose of exploring for coal and other minerals, and conduct environmental <br />monitoring and other activities associated with obtaining a coal mining permit, on, under and across the <br />following described lands located in the County of Routt, State of Colorado ("Property': <br />Towmshin 5 North. Range 89 West 6th P.M.. Routt County. Colorado <br />Section 27: S/2SE/4 <br />Section 34: NEl4, EJ2SE/4 <br />Toams 4 North. Range 89 West <br />Section 9: Lot 1 <br />Section 7 0: That part of N/2SW/4 and SE/4 Jying north of Hwy 317 <br />Section 11: Lots 2, 3, 4. <br />Containing 738.55 acres more or less. <br />OWNER and CLC hereby agree as follows: <br />Term• This Agreement shall be for a three (3) yeaz teim commencing from the <br />effective date hereof upon CLC paying to OWNER Seven Hundred Thirty Nine Dollars <br />($739.00), for the purpose of conducting exploration drilling, seismic surveys, and <br />periodic environmental monitoring activities as set forth below, including the right of ingress <br />and egress for such activities, and by CLC paying OWNER on or before each anniversary <br />date of this Agreement, a guaranteed annual rental of Seven Hundred Thirty Nine Dollata <br />($739.00). <br />2. Exploration Drilline. OWNER hereby grants unto CLC the nonexclusive right to enter the <br />Property from time to time and to prospect for, drill, take core samples, survey, and otherwise <br />evaluate coal and outer minerals and strata underlying the surface of the Property. In the event, <br />and only at such time as CLC elects to drill such core holes on the Property, CLC shall make a <br />onetime payment to OWNER, prior to commencing such drilling, of Five Hundred Dollars <br />($500.00) for each drill hole location. <br />Seismic Surveys. OWNER hereby grants unto CLC the nonexclusive right to conduct one or more <br />geophysical (seismic) surveys on, under and across the Property provided, however that prior to <br />the commencement of such seismic survey, CLC shat] notify OWNER as to the location of the <br />receiver line(s) and shot ]toles or source points for such seismic survey. In the event, and only at <br />such time as CLC elects to conduct such seismic survey, CLC shall make a onetime payment to <br />