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ADDENDUM TO <br /> QUARRY OPERATING AGREEMENT <br /> THIS AGREEMENT made as of August 5, 1986 between MID- <br /> CONTINENT RESOURCES, INC. (MCR) and PITKIN IRON CORPORATION <br /> (PITKIN) , <br /> WITNESSETH: <br /> WHEREAS, under date of November 27, 1985, MCR entered <br /> Quarry Operating Agreement with PITKIN providing for the opening <br /> and operation of limestone quarry on property leased from CF&I, <br /> Steel North of Glenwood Springs (THE MID-CONTINENT QUARRY) , <br /> WHEREAS, PITKIN has reevaluated costs incurred in <br /> opening the quarry, performing environmental work, contracting <br /> for the crushing of stone, and other costs, and has advised MCR <br /> that it is uneconomical for PITKIN to pay MCR $0. 50 per ton on <br /> limestone rock quarried and sold from the MID-CONTINENT QUARRY as <br /> provided in Paragraph 5 of said Quarry Operating Agreement dated <br /> November 27, 1985, and MCR, after investigating and examining <br /> such costs, has agreed to a revision of such Agreement. <br /> THEREFORE IN CONSIDERATION OF THE PREMISES and <br /> recognizing the need to have PITKIN continue to quarry and <br /> provide MCR with stone for it's rock dust and packwall aggregate <br /> does hereby agree that the $0. 50 per ton royalty requirement <br /> shall be deleted from said Agreement and that no royalty shall be <br /> owed MCR on account of said provision. <br /> In all other respects the said Quarry Operating <br /> Agreement is ratified, confirmed and approved. <br /> DATED and signed as of the day and year above written. <br /> MID-CONTINENT RESOURCES, INC. <br /> By <br /> President <br /> P KIN IRON CORPORATION <br /> By <br /> Vice President <br />