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• disposal of silt or sediment on that tract of approximately 25.9 acres outlined on the <br />map attached hereto. <br />~. Reduction of Acreaee. On or before November 29, 1997, Picketwire <br />shall apply to the State of Colorado for a reduction of the number of aces of land <br />covered by Colorado permit C-81-012 to not more than 1,000 acres, all of which shall <br />be contiguous to those lands quitclaimed to Picketwire by NCE pursuant to the <br />Purchase Agreement. Picketwire will perform all reclamation required to effect the <br />release of such lands from said permit (except reclamation relating to two portals in <br />Apache Canyon which shall be reclaimed by the Companies or their affiliates). <br />Upon approval of such application, (1) Picketwire shall be relieved of all further <br />rights, obligations and liabilities with respect to the released acreage, (2) the term <br />"Leased Lands" as used in this Lease shall not include the acreage released by <br />Picketwire, and (3) Picketwire, upon request by NCE, shall execute and deliver to <br />NCE a recordable release of all of Pickettivire's interest in the released acreage. <br />5. Rights After Termination. <br />a. Upon termination of this Lease, all rights and obligations of <br />Picketwire shall cease, except (1) Picketwire shall continue to <br />have the right to access the Leased Lands for the purpose of <br />complying with any applicable law, ordinance, or regulation, <br />• whether concerning reclamation or otherwise, and (2) Picketwire <br />shall have the rights set forth in subparagraph (b) below. <br />b. Upon termination of this Lease, and until Picketwire has <br />obtained final reclamation bond release, or until six years after <br />termination, cvhichever occurs last, Picketwire shall have the <br />rights at Picketwire's sole risk and expense (1) to leave on the <br />Leased Lands as may be necessary to perform required <br />reclamation work, buildings, equipment, machinery, supplies, <br />powerlines, and other personal property and fixtures owned by <br />Picketwire, and (2) to remove from the Leased Lands all <br />equipment, machinery, supplies, powerlines, and other personal <br />property and fixtures owned by Picketwire. <br />6. Option to Purchase. If this Lease is extended into a second ten-year <br />term, Picketwire shall have, and NCE hereby grants, an option to purchase any or all <br />lands which remain subject to this Lease during the last year of such second ten-year <br />term, for the price of per acre payable in full on the last day of the last year of <br />such second ten-year term. <br />~. Representations of NCE. NCE represents and warrants that it has good <br />and marketable title to the Leased Lands and that the Leased Lands are free and clear <br />• <br />3 <br />