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MEMORANDUM OF SURFACE USE AGREEMENT <br />THIS AGREEMENT entered into thisf~day aF 1996 ("Effective Date") <br />by and between RIO RO MO LAND CO. ("OWNER'S with an addre of PO Box 715, Craig, Colorado <br />81625 and COTTONWOOD LAND COMPANY, a Delaware corporation ("CLC', with an dffice at <br />1475 Pine Grove Road, Suite 207, Steamboat Springs, Colorado 80487, its successors and assigns, <br />whereby in consideration of the sum of Ter Dollars ($10.00) and othw good and valuable consideration, <br />the receipt of wd1ir11 OWNER hereby aclmowledges, and in furthw consideration of the mutual covenams <br />set forth below, OWNER hereby grams umo CLC the right to emer, conduct certain operations for tha <br />purpose of exploring for wal and other minerals, e;rd conduct environmental monitoring and other activities <br />associated with obtaining a coal mining permit, on, under and across the following described lands located <br />m the Coumy of Rout; State of Colomdo ("Property': <br />Township 5 North. Ranee 89 West. 6th P M . Roud Coumv. Colorado <br />SECTION 17: SW/4NW/4, SW/4 <br />SECTION 18: S2SEJ4 <br />SECTION 19: NE14 <br />SECT]ON 20: W2, SF14 <br />SECTION 21: SRSI25E/4NW/4, S/2S/25W/4NFJ4, S2 <br />SECTION 22: W/2SW/4, SE/4SW/4, SW/4NE/4SW/4 <br />SECTION 27: N/2NW/4, S~V/4NVV/4 <br />SECTION 28; N2, SW/4, N2SE/4 <br />SECTION 29: N12, &2SE/4 ~~ <br />SECTION 30: NF/4, NFJ4NW/4 <br />SECTION 31; LOTS I & 2, NW/4NE/4, S/2NE/4, E/2W/2, SEl4 <br />SECTION 32: S2SE/4 <br />Townshio 4 North. Ranee 89 West <br />SECTION 8: LOT 1 <br />SECT]ON 9: LOTS 2, 3, and 4, THAT PART OF N/25/2 LYMG NORTH OF <br /> HWY 317. <br />Comainmg 3,507.55 acres more or less. <br />1. This Surface Use Agreemenrt shall be for a one (1) year term canmencing from the etTective date <br />hereof ("Primary Term'), with CLC having the option to extend [he Primary Term of [his Surface Use <br />Agreemert on a year-to-year basis thweaRw, by CLC paying to OWNER on or before the expiratiw~ of the <br />Primary Terrq and thereaftw on each anniversary date of this Agreement, an annual rental for such <br />extension. <br />2. All of the rights, duties, benefits, teens and wvenants corrtained m this Agreemem will run with the <br />land and shall aceme to and be binding upon the successors and assigns of the Parries for the term of this <br />Agreement and any extetsion of such teen. <br />463132 8-720 P-935 05/23/96 07:38P PG t OF 3 REC OOC <br />Kay Weinland Routt County Clerk 8 Recorder 16.00 <br />