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srn r< ~~ caoR{oo coutrrr of rtaranto~ <br />. , h• ~ :::v..tu ~T 10:30 c^.G:~ A 1~t_L-22-95 <br />~. L'._CeYfK~V 6050~RU1NE.HEAIN,RECnR(:F.R <br />BnnK c7.72PpCEQ~ <br />MEMORANDLM AGREEMENT <br />1 <br />FOR <br />COAL MINING LEASE. <br />CANCELLING AND REPLACING PRIOR LEASE <br />~ This Memorandum A reement for Surface Mining Coal Lease ('Memorandum, made as of <br />the ~ day of Tgnf~t.wR~ , 1995 ('Lease Date') by and between CARL N. (BUD) BENSON <br />AND TERESA L 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 />~Nllfan4 1 ['~ 1995 and granted by Lessor to Lessee ('Coal Lease. <br />It is agreed: <br />1. Sanceltation of Leac_e. Lessor and Lessee hereby cancel the coal mining lease <br />entered into by the parties on October 28, 1994, prior to the time 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') bcated in, on and under the following described land (Benson West Property) in <br />Montrose County, Colorado: <br />PARCEL A: <br />THE W1/2 OF THE NE1/4 OF THE SE1l4 <br />N.M.P.M., COUNTY OF MONTROSE, STATE <br />PARCEL B: <br />THE SEt(4 OF THE SE1/4 OF SECTION , <br />OF SECTION 36, T47N, R16W OF THE <br />OF COLORADO. <br />T47N, R16W OF THE N.M.P.M. <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. It is noted that Lessor owns the coal under the Benson <br />West Property. Lessor also owns all the surface of the Benson West Property except the part <br />described as follows, which Lessor does not lease herein. <br />Beginning at the Northeast corner of the SEi/4 SEt/4 of Section 36, T47N, R16W of the <br />N.M.P.M., thence west along the north line of said SE1/4 SEt/4 600 feet; <br />Thence South 300 feet; thence East 600 feet; thence North along the East line of said <br />SEi/4 SE1/4 to the point of beginning, County of Montrose, State of Colorado. <br />Excepting any right of way for public roads therein. <br />BY THIS LEASE, LESSOR INTENDS TO LEASE TO LESSEE ALL OF LESSOR'S RIGHT, <br />TITLE AND INTEREST IN THE COAL IN, ON OR UNDER THE Benson West Property, UPON THE <br />•~ TERMS AND CONDITIONS STATED HEREIN. <br />