Exhibit 10.9
Xxxxxx MOA Coal Lease Option
Memorandum of Agreement
This memorandum of coal lease agreement, made and entered into on this the
_____ day of ______________, 2003, by and between Xxxxx Xxxxxx,_____________
Xxxxxx, Xxxxxx Xxxxxx, Xx. Xxxxxxx XxXxxxxx, Romane______________, Xxxx Xxxx
Xxxxxx, Xxxxxx X. Xxxxxx, and Xxxxx X. Xxxx, hereinafter referred to as Lessor
and Eastern Land Development, LLC, whose address is X.X. Xxx 000, Xxxxxx
Xxxxx, XX 00000, a Kentucky Limited Liability company, hereinafter called
Lessee.
WITNESSETH: That for and in consideration of the mutual promises of the
parties, the parties entered into a certain Lease Agreement dated October 9,
2003 and in the place of recording the aforesaid Lease Agreement, the parties
have agreed to execute and record this Memorandum of Coal Lease Agreement.
TERM
The term of this Lease shall be for a period commencing with the date first
above written and continuing thereafter for a term of Three (3) years. If
mining has commenced this agreement shall, however continue for so long as
Lessee is mining and producing coal through or on the leased premises, or this
lease is terminated by Lessee. Lessee shall have the right, after expiration
or other termination of this Lease, regardless of the reason for termination,
to enter upon the property for the purpose of reclaiming areas disturbed by
its mining and otherwise complying with the requirements of any local, state
or federal law, rule, regulation or ordinance.
RIGHTS GRANTED
Lessor hereby grants unto Lessee the exclusive right to mine and remove by any
method of mining all the coal within all seams and veins of coal above and
below drainage in, on and under those certain tracts or parcels lying on and
under the Elk Creek area of Xxxxxx County Kentucky.
VALID AGREEMENT
The parties hereto acknowledge that the Lease Agreement of which this is a
memorandum is a valid and binding Lease Agreement and that there is adequate
and sufficient consideration between the parties for the validity of same.
The parties hereto acknowledge that the aforesaid Lease Agreement has been
properly executed by the parties and that there has been a delivery and
acceptance of same by the parties.
Signed this the 10th day of October, 2003
LESSEE:
Eastern Land Development, LLC
BY /s/Xxxxx Xxxx
Xxxxx Xxxx, Member
LESSORS:
/s/Xxxxx X. Xxxxxx
