2010-09-02_PERMIT FILE - C1981012

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Requested By: s 0312812008 COAL MINING LEASE 200800696448 Filed for Record in LAS ANIMASr CO BERNARD J. GONZALES 03 -26 -2008 At.01:43 pm. LEASE 176.00 OR Book 1075 Pose 1935 - 1969 Instrument Book Rase 200800696948 OR 1075 1935 THIS COAL MINING LEASE (hereinafter referred to as the " Lease "), made and entered into this 14th day of March, 2008 (hereinafter the " Effective Date '), by and between the STATE OF COLORADO acting by and through the DEPARTMENT OF NATURAL RESOURCES, for the use and benefit of the DIVISION OF WILDLIFE and WILDLIFE COMMISSION, whose address is 6060 Broadway, Denver Colorado 80216 (hereinafter referred to as " Lessor " or " and NEW ELK COAL COMPANY, LLC, a Kansas limited liability company whose address is 136 West Main St., Trinidad, Colorado 81082 (hereinafter referred to as " WITNESSETH: Lessor, for and in consideration of- (i) Lessee's payment of the sum of One Dollar ($1.00), receipt and sufficiency of which is hereby acknowledged; (ii) Lessee's agreement to annually pay rent in the amounts provided for in Section 1 below (hereinafter referred to as the " Annual Rent '); (iii) Lessee's agreement to annually pay royalty in advance pursuant to Section 2 below (hereinafter referred to as the " Annual Advance Minimum Royalty "); (iv) Lessee's agreement to pay production royalty pursuant to Section 3 below (hereinafter referred to as " Production Royalty' and (v) Lessee's agreement to pay a haulage royalty pursuant to Section 4 below (hereinafter referred to as the " Haulage Royalty and (vi) the terms, conditions and agreements herein, to be kept and performed by Lessee, its successors and assigns, does hereby lease to Lessee the right and privilege of exploring and prospecting by underground methods only for, and mining of and taking of coal from all coal seams mineable only by underground mining methods, subject to the terms and conditions set forth herein, from beneath lands herein described, situated in the County of Las Animas, State of Colorado, to -wit: Parcel 1 Ali land lying within the boundaries of the permit area for the New Elk Mine as of June 1, 1997, as more specifically described in Exhibit A -1 attached hereto and shown as Parcel 1 on the plat attached hereto as Exhibit A -3 hereto containing 3,997.8 acres, more or less; and Page 1 of 17.