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,. <br />MEMORANDUM AGREEMENT FOR <br />COAL MINING LEASE <br />• Made as of the*'~'~ day of~ 1995 ("Lease Date'), WARD E BLIRBRID ° AND I Ma <br />('Lessor', whether na or more), with address at __ (`L <br />COLORADO ai424, for good and valuable consideration, the sufficiency and receipt of which is <br />hereby acknowledged by Lessor by a coal mining lease (the 'Lease') dated this same day, Lessor <br />hereby leases to Western Fuels-Colorado, A Limited Liability Company, a Colorado limited liability <br />company ('Lessee"), the following described land ('Property') and the coal mineral deposits ('Coal') <br />located in, on and under the Property: <br />LOT 5, BEING THE SW 1/4 NW 1/4 OF SECTION 6, TOWNSHIP 46 NORTH, RANGE 15 WEST <br />OF THE N. M.P.M., COUNTY OF MONTROSE, STATE OF COLORADO EXCEPT (1) A PARCEL <br />OF LAND DESCRIBED AS BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 5, <br />RUNNING THENCE SOUTH 127 FEET, THENCE IN A NORTHEASTERLY DIRECTION 417 FEET <br />TO A POINT 400 FEET EAST OF THE PLACE OF BEGINNING, THENCE WEST TO PLACE OF <br />BEGINNING 2) COMMENCING AT THE SOUTHEAST CORNER OF THE SAID SECTION 6, <br />THENCE NORTH 62° 27' 37.1" WESTERLY 6061.44 FEET TO THE POINT OF BEGINNING; THE <br />SOUTHEAST POINT OF THE BOUNDARY; THENCE, ALONG SAID FENCE LINE NORTH 88° 19' <br />29.5' WESTERLY FOR A DISTANCE OF 434.35 FEET TO THE SOUTHWEST POINT OF THE <br />BOUNDARY; THENCE, ALONG SAID FENCE LINE NORTH 1° 47' 57.9' EASTERLY FOR A <br />• DISTANCE OF 582.93 FEET TO THE NORTHWEST POINT OF THE BOUNDARY; THENCE, <br />ALONG SAID FENCE LINE SOUTH 81° 57' 40.9' EASTERLY FOR A DISTANCE OF 406.06 FEET <br />TO THE NORTHEAST POINT OF THE BOUNDARY; THENCE, ALONG SAID FENCE LINE SOUTH <br />1° 28' 0.5' EASTERLY FOR A DISTANCE OF 538.73 FEET TO THE POINT OF BEGINNING, <br />containing ~,2 acres, more or less, with all of the rights ('Rights') to conduct mining activities as <br />described in Section 3 of this Lease. <br />BY THE LEASE, LESSOR INTENDS TO LEASE TO LESSEE ALL OF LESSOR'S RIGHT, <br />TITLE AND INTEREST IN THE COAL IN, ON OR UNDER THE PROPERTY, UPON THE TERMS <br />AND CONDITIONS STATED HEREIN. <br />1. Term. The Lease shall be in effect for fifteen (15) years commencing on the Lease <br />Date stated above and for so long thereafter as: (1) coal is produced in commercial quantities from <br />the leased lands or any part thereof, or any contiguous or nearby lands as a part of a continuous <br />or integrated mining operation or mining plan, (2) the Property is being reclaimed per the <br />requirements of the mining permit covering the Property issued by the Colorado Division of Minerals <br />and Geology, Office of Mined Land Reclamation or (3) until aII reclamation bonds issued on the <br />Property are fully released. <br />• <br />