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<br />10.3 The Last release priority will be of some or all of the shares of Class !1 <br />stock in lice Deer Trail Ditch Company. <br />1 1. This water lease is binding upon the parties and upon their respective successors <br />and assigns. Either party's interest in this water lease may be assigned upon sixty days' notice to <br />the other party and upon condition that the assignee of that party's interest execute a written <br />assumption of all of the obligations of its assignor under this water lease, and upon the further <br />condition that Bowie's interest may only be assigned for use in the operation of the mine to be <br />developed by use of the Assets, unless Coors shall have previously approved of such an <br />assignment which approval will not be unreasonably withheld. <br />12. Coors hereby represents and warrants to Bowie that it is a corporation duly <br />organized under the laws of the State of Colorado and qualified to do business in the State of <br />Colorado, and [hat Steve Brown and John A. Scltallenkamp have cite capacity and authority to <br />enter into this water lease on behalf of Coors, that it has lice fu!! right, power and authority to <br />enter into, perform and carry out lice tentts and provisions of this water lease. <br />13. All notices, demands and requests whiclt may be required to be given by either <br />party to the other shall be made in writing and either hand-delivered or sent by first class United <br />States mail, postage prepaid, addresses as follows: <br />To Coors: <br />Coors Energy Company <br />12th and Ford Streets <br />P.O. Box 467 <br />Golden, Colorado 3040]-1295 <br />ATTN: Steve Brown <br />Facsimile: 303/277-5639 <br />with a copy to: <br />Mr. Lyle Bush <br />Director of Water Resources <br />Coors Brewing Company <br />Mail No. CC370 <br />Golden. CO 80401-1295 <br /> <br /> <br />