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111111111111111111111111111111111111111 ill IN I lit <br />943000 09/11/1990 63,25P 0079 P010 "MU <br />1 of 4 N 21.00 D 0.00 N 0.00 Ct"RiRE6 MONT*= Co <br />MEMORANDUM AGREEMENT FOR <br />COAL MINING LEASE <br />Made as of thelOt laay of SePt • . 1998 ("Lease Date"), <br />( "Lessor", whether one or more), with address at BB & 2780 ROAD, P.O. BOX 4. NUCLA, <br />COLORADO 81424 for good and valuable consideration, the sufficiency and receipt of which is <br />hereby acknowledged by Lessor by a coal mining lease (the "Lease ") dated this same day. Lessor <br />hereby leases to Western Fuels - Colorado, A Limited Liability Company, a Colorado limited liability <br />company ( "Lessee"). the following described land ("Property") and the coal mineral deposits ( "Coal ") <br />located in, on and under the Property: <br />T46N. 816W. N.M.P.M. <br />• SECTION 1: NE114 NEi /4 (also known as Lot 1), NW1 /4 NE1 14 (also known as Lot 2), <br />NE1 /4 NW1 /4 (also known as Lot 3), N1/2 N1/2 SW1 /4 NE1 14, and N1/2 N1/2 <br />SE1 14 NW1 14 <br />containing 140 acres, more or less, with all of the rights ( "Rights ") to conduct mining activities as <br />described in Section 3 of this Lease. <br />BY THE LEASE, LESSOR INTENDS TO LEASE TO LESSEE ALL OF LESSOR'S RIGHT, <br />TITLE AND INTEREST IN THE COAL IN, ON OR UNDER THE PROPERTY, UPON THE TERMS <br />AND CONDITIONS STATED HEREIN. <br />1. Term This Lease shall be in effect for twenty (20) years commencing on the Lease <br />Date stated above and for so long thereafter as: (a) coal Is produced in commercial quantities from <br />the leased lands, (b) the Property is being reclaimed per the requirements of the mining permit <br />covering the Property issued by the Colorado Division of Minerals and Geology, Office of Mined Land <br />Reclamation. <br />Notwithstanding any other provisions made in this Lease to the contrary, Lessee shall have <br />the right at any time, upon the basis of at least thirty (30) days advance written notice to Lessor, to <br />terminate this Lease effective on December 31 of any year, but Lessee must pay to Lessor all <br />amounts, if any, due under the terms of this Lease to the day previous to the effective date of <br />termination. <br />After expiration or termination of this Lease, Lessee shall have an additional ninety (90) days <br />during which Lessee shall have the right to re -enter the Property and remove all of Lessee's property <br />from the Property, and thereafter, as and when required by law, and until such time as Lessee is <br />released by all appropriate regulatory agencies, Lessee shall have the right to perform reclamation <br />and environmental work on and respecting the Property, provided however, that reclamation and <br />environmental work shall be performed in a reasonable and timely manner after termination of the <br />Lease. <br />the Lease. <br />Royalties Lessee shall pay to Lessor royalties and other payments as stipulated in <br />- <br />Attachment 2.03.6 -1 -60 <br />