2012-05-08_PERMIT FILE - C2009087A

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AMENDMENT TO EXPLORATION AND PROSPECT DRILLING AGREEMENT Made as of this iD /l day of October, 2008 ( "Effective Date ") This AMENDMENT TO EXPLORATION AND PROSPECT DRILLING AGREEMENT ("Amendment"), is made by and between WILTON EARLE 8, SONS, with an address of 531 4th Ave., Craig, CO 81625 -3303 ( "LICENSOR ") and COLORADO COAL RESOURCES, LLC with an address of 701 Market Street, Ste. 832, St. Louis, MO 63101 ( "LICENSEE "). LICENSOR and LICENSEE may be referred to individually as "Party" or together as "Parties ". In consideration of the sum of $10.00, the receipt of which LICENSOR hereby acknowledges, and in further consideration of the mutual covenants set forth below, LICENSOR and LICENSEE agree as follows: 1. LICENSOR and LICENSEE entered into an Exploration and Prospect Drilling Agreement dated July 16, 2008 ( "Agreement ") covering the drilling of .exploration holes at five (5) sites on LICENSOR'S Property in TSN, R87W, Sections 4, 5, 8 and 9, the term of which agreement expires on December 31, 2009. 2. LICENSEE desires to construct a water monitoring station at one drill site location and such location being identified as No. ccu023 located in Section 9, TSN, R87W as showed on the map attached to the Agreement. 3. LICENSEE may use the subject site described in paragraph 2 above for the purposes of the water monitoring station, namely that well site designated as ccu023 on the map attached to the Agreement. If the site is so used, it will be fenced or otherwise protected so as not to interfere with LICENSOR'S use of the Property. if the site is so used and LICENSEE so advises LICENSOR in writing, this Agreement will be automatically extended for a Term of twenty (20) years from and after its Effective Date. LICENSEE shall pay LICENSOR the sum of $500.00, as adjusted per paragraph 4 below, annually on or before each Effective Date of the Agreement commencing on the first anniversary date following the development of the well site to a water monitoring station to compensate LICENSOR for use of its property ( "Water Monitoring Payment "). If necessary and if requested by LICENSOR prior to end of the Term, this Agreement shall be extended for a Term of an additional ten (10) years of the same terms and provisions, including the obligation to continue making Water Monitoring Payments. This Agreement shall allow LICENSEE the right of access to the water monitoring station site for maintenance of the station and to conduct all necessary water monitoring activities. LICENSOR shall use its best efforts to restrict such access to once a month. 4. The initial Water Monitoring Payment shall be $500, however all subsequent payments shalt be adjusted annually based upon the change reflected by the Consumer Price Index as compiled by the U.S. Department of Labor, Bureau of Labor Statistics from the previous year.