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Made as of the /Nay of �fJo✓ , 1995 ( "Lease Date'), GARVEY & <br />Partnet5hir2, ( "Lessor "), with address at P.O. BOX 41 AA ROAD, NUCI A CO U 424, for <br />good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged by <br />Lessor, hereby trades with Western Fuels- Colorado, LLC (Lessee) the surface lands described in <br />section 2, and hereby leases to the Lessee the coal mineral deposits (Leased Coal or Coal) located <br />in, on and under the following property (Parcel A): <br />LOT 4 OF SECTION 6, T46N, R1 5W, N. M. P.M., AND THAT TRACT OF LAND DESCRIBED AS <br />BEGINNING AT THE NW CORNER OF LOT 5, SECTION 6, TOWNSHIP 46 NORTH, RANGE 15 <br />WEST OF THE N.M.P.M., THENCE SOUTH 127 FEET, THENCE IN A NORTHEASTERLY <br />DIRECTION 41 FEET TO A POINT 400 FEET EAST OF SAID NORTHWEST CORNER. OF LOT <br />5, THENCE WEST 400 FEET TO THE POINT OF BEGINNING. COUNTY OF MONTROSE, STATE <br />OF COLORADO. <br />containing 52 acres, more or less, with all of the rights (Rights) to conduct mining activities as <br />described in Section 4 of this Lease. [Note: attach "consent of Mortgagee ", if applicable]. <br />BY THIS LEASE, LESSOR INTENDS TO LEASE TO LESSEE ALL OF LESSOR'S RIGHT, <br />TITLE AND INTEREST IN THE LEASED COAL IN, ON OR UNDER PARCEL A, AND TO TRADE <br />CERTAIN REAL PROPERTY, UPON THE TERMS AND CONDITIONS STATED HEREIN. <br />1 � Ter of I ease This Lease shall be in effect for twenty (20) years commencing on <br />the Lease Date stated above and for so long thereafter as: (1) coal is produced in commercial <br />quantities from the Leased Coal, or (2) Parcel A is being reclaimed per the requirements of the <br />mining permit covering the Property issued by the Colorado Division of Minerals and Geology, Office <br />of Mined Land Reclamation. <br />Notwithstanding any other provisions made in this Lease and Contract to the contrary, <br />Lessee shall have the right at any time, upon the basis of at least thirty (30) days advance written <br />notice to Lessor, to terminate the Lease of Leased Coal effective on December 31 of any year, but <br />Lessee must pay to Lessor all amounts, if any, due under the terms of this Lease to the day <br />previous to the effective date of termination. <br />