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When Recorded Return To: <br />c/o Steve Weist <br />Oxbow Mining, LLC <br />PO Box 535 <br />Somerset, CO 81434 <br />9/22/11 <br />THE AREA ABOVE IS RESERVED FOR RECORDER'S USE <br />SURFACE USE AGREEMENT <br />TI I IS SURFACE USE AGREEMENT (this "Agreement'), dated effective as of Sept. 22, <br />2011 (the "Effective Date"), is between Nick R. Hughes, whose address for the purposes of this <br />Agreement is 708 1250 Rd., Delta, CO 81416, Attn: Nick R. Hughes, and OXBOW MINING <br />OAK MESA, LLC, a Delaware limited liability company ( "Oxbo "), whose address for the <br />purposes of this Agreement is P.O. Box 535, Somerset, Colorado 81434, Attn: Jim Cooper. Nick <br />R. Hughes and Oxbow shall be referred to herein, individually, as a"Party," and, collectively, as <br />the "Par <br />Recitals <br />A. Oxbow desires to conduct environmental and surface surveys on surface real <br />estate interests owned by the Nick R. Hughes in the Properties for the purpose of the preparation <br />of an environment assessment for the Bureau of Land Management, the survey of possible drill <br />hole locations, the identification and flagging of survey points for an aerial survey to be <br />conducted by Oxbow, and identification of potential development of surface and ground water <br />well monitoring sites (all collectively, the "Survey Activities"). <br />B. In addition to conducting the Survey Activities, Oxbow is interested in <br />completing exploration drilling of the coal seam(s) under the surface estate owned by Nick R. <br />Hughes in the Properties pursuant to a coal exploration permit or exploration permits Oxbow <br />intends to obtain from the United States of America, through the Bureau of Land Management <br />(BLM), and the Colorado Division of Reclamation Mining and Safety (CDRMS), at some date in <br />the future, insofar as those exploration permit or pen and notices of intent to explore pertain <br />to underground coal deposits in the Properties. <br />C. Oxbow acknowledges that the surface estate owned by Nick R. Hughes is subject <br />to a Deed of Conservation Easement In Gross, as described in Exhibit "B". As such Oxbow shall <br />work with Nick R. Hughes to minimize surface disturbances, and to reclaim any surface <br />disturbance caused by Oxbow in order to meet State and Federal regulatory (reclamation) <br />standards. Oxbow shall work with a 3' d party consultant to evaluate and prepare an annual report <br />on the status of the reclaimed surfaces on the Landowners affected property, until bonding is <br />released by all state and Federal regulatory agencies. <br />D. This Agreement sets forth the Parties' rights and obligations regarding the use of <br />the Properties by Oxbow in connection with the exploration of the coal mineral estate contained <br />within the Properties. <br />Agreement <br /># 1488959 v3 dcn <br />