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• • . <br />. '7 -z ~~_ <br />THIS OPTION AGREEMENT, made and entered into this ~ ~ "day of <br />December, 2004, by and between Gus J. Slanovich and Daniel L. Slanovich, <br />individuals, d/b/a Daniel L. Slanovich and Gus J. Slanovich Partnership, a/k/a Chandler <br />Creek Companies, a Colorado general partnership, hereinafter referred to collectively <br />as "Lessor", and Northfield Partners, LLC, a Colorado limited liability company, <br />hereinafter referred to as "Lessee". <br />WITNESSETH: <br />That for and in consideration of Lessee paying to Lessor the sum of <br />and other good and valuable consideration, Lessor does <br />hereby grant unto Lessee, under the terms and conditions hereinafter set forth, an <br />exclusive ri ht to prospect for all of the coal in, on and underlying all those certain tracts <br />9 <br />or parcels of land situated in, Fremont County, Colorado, and more particularly <br />described in Annex A attached to Annex One attached hereto and made a part hereof <br />and is hereinafter referred to as the "Leased Premises". <br />It is understood and agreed between the parties hereto as follows: <br />1. GRANT OF OPTION: The Lessor does hereby grant unto Lessee the <br />exclusive option, for a period of three (3) years from the date hereof, upon and subject <br />to the terms and conditions hereinafter set out ~r referred to, to lease from the Lessor <br />the sole and exclusive right of mining, removing. and processing, all of the coal on, in <br />and under the Leased Premises upon the terms and conditions set out in that certain <br />written lease which, in unexecuted form, is attached hereto and marked Annex One and <br />is hereinafter, in this agreement, referred to as "the Lease". ~~. <br />.~L~ <br />;; <br />'., . <br />