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MEMORANDUM OF LEASE <br />THIS MEMORANDUM OF LEASE (this "Memorandum") is effective as of the 19th of <br />February, 2008 (t:he "Effective Date") and reflects the existence of a Lease made and entered by <br />and between Gus J. Slanovich and Daniel L. Slanovich, individuals, d/b/a Daniel L. Slanovich <br />and Gus J. Slanovich Partnership, a/k/a Chandler Creek Companies, a Colorado general <br />partnership, ("Le:>sor"), and Northfield Partners, LLC, a Colorado limited liability company <br />("Lessee"). <br />Recitals: <br />WHEREAS, Lessor is the owner of certain real property situated in Fremont County, <br />Colorado, more particularly described on Exhibit A attached hereto (the "Leased Premises") <br />WHEREAS, Lessor has leased to Lessee the Leased Premises pursuant to the terms of the <br />Lease dated effective as of the Effective Date (the "Lease"). <br />WHEREAS, this Memorandum provides record notice of the Lease. <br />Terms and Conditions: <br />Ri is Granted. Pursuant to the Lease, Lessor leases, lets and demise unto Lessee all that <br />certain tract of land situated in Fremont County, the Leased Premises. The Lease is in <br />bulk and not by acre or quantity. Lessor excepts and reserves all ownership and control <br />of the oil and gas, together with the full right to use, enjoy, operate, develop, produce, <br />extract, store, transport and market the same. The right of the Lessor to produce oil and <br />gas shall not unreasonably interfere with coal mining operations. Subject to the <br />exceptions set forth in the Lease, Lessor demises, lets and leases to Lessee all mining <br />rights, rights of way and other rights, easements and privileges appurtenant to the Leased <br />Premises. Such rights include the nonexclusive rights of ingress and egress; the sole and <br />exclusive right of mining, removing and manufacturing into other products of coal, all of <br />the coal on, in and under the Leased Premises, which Lessee may wish to mine by ~rrry <br />and all methods of deep mining now known or hereafter developed; the sole and <br />exclusive right of occupying and using the surface of the Leased Premises for coal <br />mining acid transportation; the sole and exclusive right of preparing for market, usi~lg, <br />consuming, transporting, shipping, selling, marketing, processing and reprocessing any <br />coal or other products of coal and coal refuse; the nonexclusive right of occupying and <br />use the surface of the Leased Premises as Lessee may find necessary or convenient; the <br />nonexclusive right of making in and on the Leased Premises excavations and <br />improvements of whatever kind and nature as Lessee may find necessary or convenient in <br />the proper exercise and enjoyment of all rights and privileges hereunder; the <br />nonexclusive right of building tipples, railroads, tram roads and other structures, and for <br />such other purposes and business as Lessee may find necessary, desirable or incidental to <br />the foregoing purposes; and the nonexclusive right of entering the Leased Premises; at any <br />reasonable time after the termination of the Lease for purposes of completing reclamation <br />