1991-04-12_GENERAL DOCUMENTS - C1981017

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MINE SERVICE AGREEMENT THIS AGREEMENT made as of this 5th day of July, 1988 between MID-CONTINENT RESOURCES , INC. (MCR) , and PITKIN IRON CORPORATION ( PITKIN) , WITNESSETH: WHEREAS, PITKIN as surviving corporation in a merger with Mid-Continent Limestone Company has operated and continues to operate MCR' s magnetite grinding plant, limestone grinding plant and packwall aggregate plant located Easterly of Carbondale as a part of MCR' s dock property, more particularly described upon Exhibit "A" attached hereto, and WHEREAS , PITKIN also operates the Mid-Continent Quarry, being a limestone quarry North of Glenwood Springs, Colorado under Lease Agreement with MCR and provides limestone to the limestone grinding plant (the limestone/magnetite plant) , and WHEREAS, PITKIN supplies iron ore from it' s own mines in Cooper Basin South of Aspen for use at the magnetite grinding plant, WHEREAS, PITKIN provides MCR with rock dust, packwall aggregate, and magnetite from the limestone/magnetite plant, delivered in PITKIN' s trucks to MCR' s Coal Basin mines, WHEREAS , the parties desire to state with more certainty the operating agreement under which PITKIN provides such mine support services for MCR, THEREFORE, IN CONSIDERATION OF THE PREMISES and the mutual covenants herein contained IT IS AGREED THAT PITKIN shall continue to provide mine support services for MCR under the following conditions: 1. PITKIN shall continue to operate the Mid-Continent Quarry pursuant to Quarry Operating Agreement dated November 27, 1985 between these parties as amended and shall quarry, transport, process, grind, bag, as needed, and deliver to MCR' s Coal Basin mining operations at designated and agreed upon points such quantities of rock dust, either bagged or bulk, and such quantities of packwall aggregate as shall be needed in MCR' s Coal Basin mining operations. 2. PITKIN shall supply MCR with pulverized magnetite