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RELEASE OF MORTGAGE DEED
<br /> THIS RELEASE made this 9th day of January, 1989 by
<br /> the MINED LAND RECLAMATION BOARD , Department of Natural
<br /> Resources, State of Colorado (MLRB ) in favor of Mid-Continent
<br /> Resources, Inc . , formerly Mid-Continent Coal & Coke Company,
<br /> (MCR) ,
<br /> WITNESSETH:
<br /> WHEREAS, MCR executed and delivered mortgage of real
<br /> property and improvements thereon as described below as surety
<br /> for Reclamation Bond to MLRB pursuant to the requirements of 34-
<br /> 33-113 CRS which Mortgage was thereafter amended from time to
<br /> time as hereinafter stated,
<br /> WHEREAS, MCR has substituted other improved real estate
<br /> as surety for it ' s Reclamation Bond consisting of a Deed of Trust
<br /> for S3, 272, 500, securing a Reclamation Bond for $3, 000, 000, to
<br /> the Public Trustee of Garfield County, Colorado conveying certain
<br /> lands therein described to be held in trust for the benefit of
<br /> the State (MLRB ) and the United States of America as surety for
<br /> the faithful performance by MCR of it ' s obligations to the State
<br /> and the United States ( OSMRE) evidenced by said Bond, which Deed
<br /> of Trust, dated December 11, 1984 and recorded as Document No.
<br /> 357928, Book 661, Page 215, Garfield County Clerk & Recorders
<br /> office, and Addendum thereto dated August 29, 1988 and recorded
<br /> October 17, 1988 in Book 742, Page 725, Garfield County Clerk and
<br /> Recorder' s office, which surety was pledged in lieu of property
<br /> theretofore pledged by Mortgage Deed and Amendments thereto as
<br /> described hereinafter.
<br /> WHEREAS, the pledge of such alternative surety entities
<br /> MCR to release of the formerly pledged surety- as hereinafter
<br /> described.
<br /> THEREFORE, IN CONSIDERATION OF THE PREMISES and the
<br /> substitution of alternative surety as above described, the
<br /> receipt and sufficiency of which are hereby acknowledged, MLRB
<br /> does hereby remise, release and forever quiteclaim unto MCR as
<br /> owners of said real property, their successors and assigns
<br /> forever, all of the right, title and interest which MLRB has by
<br /> virtue of the mortgage and amendments thereto, more particularly
<br /> described as follows, to-wit:
<br /> Mortgage Deed recorded February 21, 1980 as Document
<br /> No . 301803 , Book 544 , Page 32, Garfield Countv Clerk and
<br /> Recorder' s office.
<br /> Amendment to Mortgage Deed to Secure Reclamation Bond
<br /> dated May 27, 1980 and recorded July 1 , 1980, Reception No.
<br /> 305180, Book 550, Page 974, Garfield Countv Clerk and Recorder' s
<br /> office.
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