EXHIBIT 10.10
LEASE AMENDMENT NO. 1
THIS LEASE AMENDMENT NO. 1, made and entered into this the 20th day of
November, 2002, by and between ACIN LLC, as Lessor and ARK LAND COMPANY, as
Lessee.
WITNESSETH:
THAT WHEREAS, the Lessor and Lessee are parties to a coal lease dated
October 17, 2002 ("Lease") concerning certain property located in Letcher
County, Kentucky and Wise County, Virginia,
THAT WHEREAS, the Lessor and Lessee are also parties (together with Arch
Coal, Inc.) to that certain Royalty Pass Through Agreement and Guaranty dated
October 10, 2002 (the "Royalty Pass Through Agreement") concerning certain
royalties to be paid by the Lessee to the Lessor with respect to property
located in Knox County, Indiana, and
WHEREAS, the parties hereto have agreed to amend the Lease and to
terminate the Royalty Pass Through Agreement in accordance with the terms of
this Lease Amendment No. 1;
NOW, THEREFORE, in consideration of the premises and the further
consideration of the mutual covenants and agreements contained herein, the
parties hereto agree as follows:
1. The Lease is amended by adding a new paragraph to Section 4 thereof
as follows:
"In addition to, and not in substitution of, all other payments called for
herein, Lessee will pay to Lessor non-recoupable rental payments as
follows:
a. On the date of execution hereof the sum of Eight Hundred Thirty Nine
Thousand ($839,000).
b. On the first day of the month of February, May, August and November
in each year designated below, payments in the following amounts:
2003 -- $270,000
2004 -- 290,000
2005 -- 295,000
2006 -- 205,000
2007 -- 205,000"
2. The Royalty Pass Through Agreement is hereby terminated and rendered void.
Arch Coal, Inc. is hereby released and relieved from any further
obligation or liability arising under the Royalty Pass Through Agreement.
3. Except as amended herein, the Lease remains in full force and effect.
IN WITNESS WHEREOF, ACIN LLC and Ark Land Company have caused this Lease
Amendment No. 1 to be executed by their respective duly authorized officers as
of the day and year first above written.
ACIN LLC
By NRP (OPERATING) LLC
Its Sole Operating Manager
By: /s/ Nick Carter
Nick Carter
Its: President and Chief Operating Officer
ARK LAND COMPANY
By: /s/ Steve McCurdy
------------------
Its:President
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STATE OF West Virginia
COUNTY OF Cabell, SS:
The foregoing instrument was acknowledged before me this 25th day of
November, 2002, by Nick Carter, President and Chief Operating Officer of NRP
(Operating) LLC, the sole operating manager of ACIN LLC, on behalf of ACIN LLC.
My commission expires November 26, 2007.
Chasity L. Chapman
Notary Public
(S E A L)
STATE OF Missouri
COUNTY OF St. Louis, SS:
I, Erika M. Dominick, a Notary Public in and for the State and County
aforesaid do certify that Steven E. McCurdy, who signed the above writing dated
November 22, 2002, for ARK LAND COMPANY, has this day, in my said County, before
me, acknowledged the said writing to be the act and deed of said corporation.
Given under my hand and notarial seal this 22nd day of November, 2002.
My commission expires September 30, 2003.
Erika M. Dominick
Notary Public
(S E A L)
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