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UNITED STATES
<br />DEPARTMENT OF THE INTERIOR Serial No.: COC-61357
<br />BUREAU OF LAND MANAGEMENT Date of Lease: March 01, 2001
<br />MODIFIED COAL LEASE
<br />PART I.
<br />THIS MODIFIED COAL LEASE is entered into on January O1, 2009 by and between the UNITED STATES OF AMERICA,
<br />hereinafter called the Lessor, through the Bureau of Land Management, and
<br />Oxbow Mining, LLC
<br />PO Box 535
<br />Somerset, CO 81439
<br />hereinafter called Lessee.
<br />This modified lease shall retain the effective date March O1, 2001, of the original COAL LEASE COC-61357 and is effective for a
<br />period of 20 years therefrom, and for so long thereafter as coal is produced in commercial quantities from the leased lands, subject to
<br />readjustment of lease terms at the end of the 20th lease year (March O1, 2021), and each 10-year period thereafter.
<br />Sec. 1. This lease is issued pursuant and subject to the terms and provisions of the Mineral Lands Leasing Act of 1920, as amended,
<br />41 Stat. 437, 30 U.S.C. 181-287, hereinafter referred to as the Act; and to the regulations and formal orders of the Secretary of the Interior
<br />which are now or hereafter in force, when not inconsistent with the express and specific provisions herein.
<br />Sec. 2. 1. Lessee as the holder of Coal Lease COC-61357, issued effective March O1, 2001, was granted the exclusive right and
<br />privilege to drill for, mine, extract, remove or otherwise process and dispose of the coal deposits in the D seam only, upon, or under
<br />the lands described below as Tract 1.
<br />2. The Lessor in consideration of fair market value, rents and royalties to be paid, and the conditions and covenants to be observed as
<br />herein set forth, hereby grants and leases to lessee the exclusive right and privilege to drill for, mine, extract, remove, or otherwise .__.. .
<br />process and dispose of the underground coal deposits in the D seam only on the following lands described as Tract 2.
<br />3. The Lessor inconsideration of fair market value, rents and royalties to be paid, and the conditions and covenants to be observed as
<br />herein set forth, hereby grants and leases to lessee the exclusive right and privilege to drill for, mine, extract, remove, or otherwise
<br />process and dispose of the underground coal deposits in the D seam only on the following lands described as Tract 3.
<br />Orieinal Lease:
<br />Tract 1: T. 12 S., R. 90 W., 6`h P.M.
<br />sec. 31, lots 1 through 14, inclusive, and NE1/4;
<br />sec. 32, lot 3 through 6, inclusive, lots l 1 through 14, inclusive, and NW 1/4.
<br />T. 12 S., R. 91 W., 6`h P.M.
<br />sec. 35, lots 1 through 22, inclusive, and that part of HES No. 1341ying in the NE '/a,
<br />N1/2NW1/4, SW1/4NW1/4;
<br />sec. 3 6, lots 1 through 17, inclusive, NE 1 /4, E 1 /2NW 1 /4, S W 1 /4NW 1 /4, and that part of HES 1341ying in lot 1.
<br />T. 13 S., R. 90 W., 6`h P.M.
<br />sec. 5, lots 7 through 10, inclusive, lots 14, 15, 17, and 18;
<br />sec. 6, lots 8 through 17, inclusive.
<br />T. 13 S., R. 91 W., 6`h P.M. ~ f7
<br />sec. 1, lots 1 through 4, inclusive, S1/2NW1/4, and SW1/4; co ~
<br />sec. 2, lot 1, and S1/2NE1/4; ~ ~
<br />sec. 12, S 1 /2NE 1 /4, and NW 1 /4. c'1 ~
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<br />4, 443.57 acres, in Delta and Gunnison County, Colorado. ~ ~`~ ~ .,~
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