Laserfiche WebLink
r (tl) Lessor may use the surface of the property for farming or any other use until <br />Lessee elects to exercise its Rights stated above. No provision of this Lease shall be construed to <br />deprive Lessee ,of the exclusive right to determine the uses to which the property is to be put after <br />mining, or the drops, if any, to be raised, or the methods to be employed and the costs to be <br />incurred as part of such after- mining uses. Before Lessee commences to exercise the Rights <br />specified in (b) above, Lessor may remove from the Property at, Lessor's expense any buildings, <br />structures or other personal property of Lessor but if Lessor fails or neglects to remove the same <br />after having had at least ninety (90) days to do so, then Lessee may at its expense, but without any <br />liability to Lessor remove or destroy the same. Lessee would solicit Lessor's input regarding the <br />crops to be planited during reclamation of Parcel A or Parcel B. However, Lessee would be bound <br />by the terms of the permit issued by Colorado Division of Minerals and Geology which will specify <br />return of the land to existing or better uses. <br />(e) Lessee owns and reserves the right to mine coal under the surface traded to <br />Lessor, as Parcel B, under Section 2. There is no specific plan to mine this coal at this time. <br />However, if and when Lessee decides to mine this coal, Lessor shall fully cooperate with Lessee in <br />order for Lessee to carry out all special rights granted under Section 4(a) through 4(d) of this lease. <br />Lessor specifically grants these rights to Lessee for Parcel B, if and when necessary to mine the <br />coal under that property, excep that Lessor does not grant the rights described in 4(b) and 4(c) for <br />areas within Parcel B not required for mining or for the homesite area situated to the South of the <br />Third Lateral Ditch, to the north of the mined out area and from County Road 2600 1320 feet to the <br />east of County Road 2600. Lessor does grant Lessee the survey rights described in 4(a) for the <br />homesite. Lessor also grants and guarantees Lessee all necessary access for current and ongoing <br />reclamation work on Parcel B. <br />Lessee need not pay any additional consideration to Lessor for reserving the coal reserves <br />and future mining rights underlying Parcel B, since Lessee owns these rights. However, Lessee will <br />provide just compensation for damages to the surface of Parcel B and related improvements, if and <br />when Lessee mines the Parcel B coal. The terms for using the surface may be determined as <br />follows: <br />( i) Lessor shall lease to Lessee the surface affected by Lessee's mining activities. The <br />lease value shall be determined by taking the appraised value of the surface and <br />surface improvements divided by the number of years the lease will be in effect plus <br />5% of the appraised value. This will be the annual lease payment due to lessor. <br />4EXaMpLe) If appraised value is $100,000.00; term of lease is 20 years = $5000.00 <br />+ 5% of appraised value = $5,000 = $10,000 /year). The value will be determined by <br />an independent and licensed rea! estate appraiser mutumfly selected by the Lessor <br />5 <br />LL <br />