Exhibit 10.10
Assignment of Xxxxxx Lease ELD to ECEI
ASSIGNMENT OF LEASE
This assignment of lease from Eastern Land Development LLC to Eastern
Consolidated Energy, Inc. entered into this 12th day of January 2004 is hereby
executed under the following terms and conditions.
Eastern Land Development LLC hereby assigns that certain Coal Lease dated 10th
day of October 2003 known as the Xxxxxx Lease, subject to a $.75 per ton
Overriding Royalty on all coal mined and sold to Eastern Land Development LLC.
This lease is filed and recorded on Lease Book 70, Page Number 390, and dated
January 26, 2004. and is located in Xxxxxx County, Kentucky and said
assignment being to Eastern Consolidated Energy, Inc.("ECEI"), a Kentucky
Corporation located at 0000 X. Xxxxxx Xx. Suite 300, Coral Springs, FL 33065.
As compensation for said lease ECEI agrees to pay Eastern Land Development LLC
Seven Hundred Thousand Shares of Consolidated Energy, Inc. common stock (Rule
144).
XXXX agrees to abide by all terms and conditions as stipulated in said lease.
IN WITNESS WHEREOF, have executed this assignment as of the 12th day of
January 2004.
EASTERN LAND DEVELOPMENT LLC
/s/Xxxxx Xxxx
Xxxxx Xxxx, Member
EASTERN CONSOLIDATED ENERGY INC.
/s/Xxxxx Xxxxxxx
Xxxxx Xxxxxxx, President
