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<br />• ~ 6AEMORANDUM AGREEMENT
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<br />CANCELLING AND RFP a ING PRIOR LEACE
<br />~,t`~yThis Memorandum Agreement for Surface Mining Coal Lease ("Memorandum7, made as of
<br />the J.L~ day of ~wuu+~~y 1995 ('Lease Date") by and between CARL N. (BL1D) BENSON
<br />CARL BROGK BENSON ('Lessor', whether one or more), with address at 4101 E. ASHER HILLS
<br />DR., CAVE CREEK, AZ 85331, and WESTERN FUELS-COLORADO, LLC, a Colorado Limited
<br />Liability Company ("Lessee'). It is the intent of the parties to this Memorandum that this document
<br />serve as a recordable Memorandum giving full notice of that Coal Mining Lease dated as of _
<br />eTAN tA.w-a~! t \ .1995 and granted by Lessor to Lessee ('Coal Lease').
<br />It is agreed:
<br />1. Cancellation of Lease. Lessor and Lessee hereby cancel the coal mining lease
<br />entered into by the parties on October 28, 1994, prior to the 6me that certain defects in Lessors' title
<br />were discovered and corrected. It is the intent of the parties that this new lease replace the lease
<br />for this parcel entered into on October 28, 1994.
<br />2. Grant of Lease. Lessor hereby leases unto Lessee, its successors and assigns, upon
<br />the terms and conditions set forth in this Memorandum and the Coal Lease, the coal mineral
<br />deposits ('Coal`) located in, on and under the following described land (Benson East Property) in
<br />• Montrose County, Colorado:
<br />LOTS 3 AND 4, SECTION 31, TOWNSHIP 47 NORTH, RANGE 15 WEST, NEW MEXICO
<br />PRINCIPAL MERIDIAN, LESS A TRACT OF LAND DESCRIBED AS FOLLOWS;
<br />COMMENCING AT A POINT ON THE TOWNSHIP LINE WHENCE THE SOUTHWEST
<br />CORNER OF SECTION 31 T47N; RiSW, N.M.P.M. AFORESAID BEARS WEST 1062
<br />FEET, THENCE NORTH 1058 FEET TO STONE N1, THENCE SOUTH 53° 20' EAST 92
<br />FEET, THENCE SOUTH 74° 15' EAST 90.5 FEET, THENCE SOUTH 72° 45' EAST 122
<br />FEET, THENCE NORTH 16° 30' EAST 357 FEET, THENCE NORTH 70° 30' WEST 407
<br />FEET, THENCE NORTH 1243 FEET, THENCE EAST 1062 FEET, THENCE SOUTH 2640
<br />FEET TO TOWNSHIP LINE, THENCE WEST ALONG TOWNSHIP LINE 1062 FEET TO
<br />PLACE OF BEGINNING.
<br />TOGETHER WITH A TRACT OF LAND IN LOT 4, SECTION 31, TOWNSHIP 47 NORTH,
<br />RANGE 15 WEST, NEW MEXICO PRINCIPAL MERIDIAN DESCRIBED AS BEGINNING
<br />AT THE SOUTHWEST CORNER OF SAID SECTION 31, THENCE EAST 1062 FEET,
<br />THENCE NORTH 1058 FEET TO POINT OF BEGINNING; THENCE SOUTH 53° 20' EAST
<br />92 FEET, THENCE SOUTH 74° 15' EAST 90.5 FEET, THENCE SOUTH 72° 45' EAST 122
<br />FEET, THENCE SOUTH 16° 45' WEST 132 FEET, THENCE WEST 245.5 FEET, THENCE
<br />NORTH 223 FEET TO THE POINT OF BEGINNING.
<br />containing ~ acres, more or less, with all of the rights ('Rights') to conduct mining activities as
<br />) described in Section 3 of this Agreement.
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