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4. Thence due East 3,931„1 feet along a fence <br />line to the northeast corner of said tract, the <br />point of beginning„ <br />All located in the County of Montrose, State of <br />Colorado. <br />A tract of land situated in the N 1/2 SW 1/4 and in <br />the NW 1/4 SE 1/4 of Section 36, Township 47 North, <br />Range 16 West of the New Mexico Principal Meridian. <br />Said tract of land contains 54.152 acres, more or <br />less, and is described as follows, to -wit: <br />1.. Beginning at a point known as the northeast <br />cornet and from whence the northwest corner of <br />Section 30, Township 47 North, .Range 15 West, <br />N..M P.M. bears North 09 °29'58" East 7,980.0 feet, <br />thence South 00 °22' West 600.0 feet along a <br />fence line to the southeast corner of said tract., <br />2. Thence due West 3,931.9 feet to the southwest <br />corner of said tract. <br />3. Thence North 00 °27' East 600..0 feet along a <br />fence line to the northwest corner of said tract. <br />Township 47 North, Range <br />E 1/2 SW 1/4, Section 25, <br />16 West, Montrose County, Colorado. <br />2. In Paragraph 2 of the Lease, substitute "Lessee" for <br />"Edna Coal Company" where the latter appears. <br />3. Paragraph 4 of the Lease is hereby amended to read <br />as follows: <br />The term of this lease shall be for 15 years from <br />May 1, 1977, and shall continue for so long thereafter <br />as coal or other mining operations are being conducted <br />on the leased premises, or on any part thereof, or on <br />any contiguous or nearby lands as a part of a continuous <br />or integrated mining operation or mining plan, unless <br />sooner as herein elsewhere provided. <br />4. Paragraph 5 of the Lease is replaced in its entirety <br />by the following: <br />Lessee shall pay to Lessor monthly tonnage royalty <br />of 6% of gross realization. The term "gross realization" as used <br />herein shall mean gross sales receipts, excluding any sales or <br />severance taxes contained therein, from the sale of coal mined from <br />the above - described lands, received by Lessee during the month, <br />divided by the number of tons of 2,000 pounds each, sold during the <br />same month., Tonnage royalty payments shall be payable on or <br />before the 25th day of each month for the gross realization for the <br />previous calendar month.. <br />Lessee shall pay to Lessor a guaranteed annual advance <br />minimum royalty of $3,000.00 per year, commencing on June 1, 1977, and <br />on June 1 of each yeas thereafter during the term of this lease. Pay- <br />ment or tender of such amount s111 operate as a rental for twelve (12) <br />