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AMENDMENT TO AMENDED COAL MINING
LEASE
OF
INDIAN LANDS
THIS IS AN
AMENDMENT to the amended coal mining lease of Indian lands between
the Crow Tribe of Indians of the Crow Reservation
(“Lessor”) and Westmoreland Resources, Inc.
(“Lessee”), which was entered into on the 26
th day of November, 1974.
THIS AMENDMENT
results from the scheduled renegotiation of the royalty rates set
forth in said Amended Coal Lease pursuant to Section II.b.,
page 3 of said Amended Lease.
WHEREAS, the
parties to said Lease have renegotiated the royalty rate to be paid
by Lessee to Lessor under said Lease, and have agreed to the
royalty rate set forth below, and further agree that said
negotiations and the resulting royalty agreement fully conform with
the requirements of said Amended Coal Lease, and any subsequent
amendments thereto,
NOW, THEREFORE,
the parties agree that said Amended Lease and any amendments
thereto shall be amended by this Agreement to provide that the
royalty payable by Lessee to Lessor pursuant to said Lease for the
period from December 1, 1994, to November 30, 2004, shall
be as follows:
1. Northern
States Power : Lessor shall receive a royalty of 6% of the
f.o.b. mine price for all coal purchased by Northern States Power
during the ten year period noted above.
2. Existing
Contracts : Other than Northern States Power, there are three
existing contracts, Western Fuels Association, Inc.
(“WF”), Otter Tail Power (“OTP”) Contract,
and Wisconsin Electric Power Co. (“WEPCO”). The royalty
rate for WEPCO’s 1995 tonnage will be 12.5% of the f.o.b.
mine price less all production taxes. The WF and OTP contracts have
minimum and maximum annual tonn
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