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r <br />3. In consideration for the rights granted Lessee hereunder, Lessee hereby agrees to pay <br />to Lessor the sum of - .per exploration drill hole within <br />ten (10) days following the receipt by Lessee of a signed copy of this letter agreement from <br />Lessor. <br />4. The term of this letter agreement shall commence on the date upon which Lessor executes <br />same and shall continue In full force and effect until December 31, 2003 or until such time <br />as Lessee receives permission to release its exploration bond from the OMG, whichever <br />occurs first. <br />If the above mentioned terms and conditions meet with your approval, please indicate such by <br />dating and signing below and return one (1) fully executed counterpart original of this letter <br />agreement to me in the enclosed self-addressed and stamped envelope provided for your <br />convenience. <br />Should you have any questions concerning this matter, please do not hesitate to contact Rick <br />Mills at (970) 870-2712. Thank you for your cooperation and assistance. <br />Sincerely rs, <br />~~ ~ <br />' G. E. VaJda <br />Vice President <br />/Itg <br />EnGosures (2) <br />L. T. Gaskins -Cyprus Amax Coal Company <br />R, A. Mills - Twentymile Coal Comgpany <br />Agreed to and accepted this / day of r~Q~ _, 1999. <br />Paul A. Swisher, Trustee of the Ruth V. Swisher Revocable Trust <br />