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<br />STATE OF COLORADO
<br />f ATE BOARD OF LAND COMMISSIC,..:;RS
<br />Department of Natural Resources
<br />AMENDED AND RESTATED COAL MINING LEASE NO. CO 235
<br />THIS AMENDED AND RESTATED COAL MINING LEASE (the "Lease"), made in duplicate and entered
<br />into this 1st day of December , 1996 , by and between the State of Colorado, acting through its STATE BOARD
<br />OF LAND COMMISSIONERS, hereinafter referred to as Lessor, and Morgan Coal Company
<br />4567 Cold S rin Rd Indiana olis Indiana 46208
<br />hereinafter referred to as Lessee:
<br />WITNESSETH: Lessor, for and in consideration of the sum of Fifty-One Thousand Five Hundred Fifty-
<br />two and No/100 ----- ( $ 51.552.00 ), receipt of which is hereby acknowledged as payment of filing fee in the
<br />amount of $ 20.00 , first year's rent in the amount of $ 11.532.00, first year's advance minimum royalty in the
<br />amount of $40.000.00, and a bonus in the amount of $ -0- , and in further consideration of Lessee's agreement to
<br />pay -three and no/100 Dollars ( $ 3.00 ) per acre annually as rental in advance of the anniversary date of this
<br />Lease so long as this Lease shall remain in effect; and in further consideration . of the terms, conditions and
<br />agreements herein and of the payments of annual rentals and royalties reserved herein,-to be kept and performed
<br />by Lessee; its successors and assigns, does hereby lease to Lessee the right and privilege of exploring and
<br />prospecting for, and mining of and taking of coal from the lands herein described, situated in the County of Routt ,
<br />State of Colorado, to-wit:
<br />ACRES SUBDIVISION SEC.TWP.RGE. PATENTS
<br />00
<br />480 S12N12; S12 1-5N-87W None
<br />.
<br />642
<br />23 LOTS 14; S/2N/2; S/2 2-5N-87W None
<br />.
<br />55
<br />321 LOTS 1-2; 512NE/4; SE14 3-5N-87W None
<br />.
<br />00
<br />320 E/2 10-5N-87W None
<br />.
<br />00
<br />640 ALL 11-SN-87W None
<br />.
<br />.
<br />00
<br />640 ALL 12-SN-87W None
<br />.
<br />00
<br />320 N/2 13-SN-87W None
<br />.
<br />00
<br />320 N/2 14-5N-87W None
<br />.
<br />160.00 NE/4 15-5N-87W None
<br />FUND: School
<br />containing 3.843.18 acres, more or less (such coal and the following related rights being hereinafter call "the
<br />Leased Premises"), together with the right to use as much of the surface above the Leased Premises as may be
<br />reasonably required in the exercise of the right to mine, including strip mining and underground mining with the
<br />right to subside the surface, and with the right to enter upon the surface to conduct subsidence monitoring and
<br />surveying, and to conduct surface subsidence remediation and repairs as required by -law; the right to conduct
<br />environmental monitoring, surveying and assessments and the right to reasonable ingress and egress; the right to
<br />construct buildings, make excavations, stockpiles, dumps, drains, roads, railroads, power lines, pipelines 'and other
<br />improvements as may be reasonably necessary in the mining and removal of said coal, to the extent Lessor has
<br />the authority to grant such; subject, however, to all existing easements and rights-of-way of third parties, and the
<br />rights of surface lessees and surface patentees, and further subject to the terms, conditions and agreements set out
<br />in this Lease. The above-mentioned rights may be exercised in connection with mining or development on the
<br />Leased Premises, or with mining or development on other or adjacent lands so long as Lessee is not in default
<br />under the terms of this Lease and Lessee continues to pay to Lessor any and all royalties or rentals due under the
<br />terms of this Lease. The above rights to use the State lands above the Leased Premises without mining on the
<br />Leased Premises will be at the discretion of Lessor; but if Lessee is, has been, or will be conducting mining
<br />operations upon the Leased Premises, such rights shall be vested in Lessee.
<br />RESERVING, however, to the State of Colorado:
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