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Address Info: 1150 O Street, P.O. Box 758, Greeley, CO 80632 | Phone:
(970) 400-4225
| Fax: (970) 336-7233 | Email:
egesick@weld.gov
| Official: Esther Gesick -
Clerk to the Board
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871873.tiff
NOVA NATURAL RESOURCES CORPORATION • July 20, 1987 Town of Keota c/o Betty Bivens, Treasurer __,_Keota -Star-Router Box 17 - - - - - - - -- -- — -- — - - Grover, CO 80729 RE: Delay Rental Payment 1986 - 1987 Dear Mrs . Bivens : Enclosed please find check #4142 in the amount of $25 .00 for the annual delay rental payment for the year 1986 . This check replaces Power Resources ' check #2467 marked "account closed" . Please sign the bottom portion of this letter and return it to our office in the enclosed envelope. Thank you for your time and attention to this matter. Sincerely, NOVA NATURALLY RESOURCES CORPORATION Terri L. Packham _. _ __ __ - _ Executive Assistant /tlp enclosure Accepted this day of , 1987 8//815 1560 UNIVERSITY CLUB BUILDING•SALT LAKE CITY,UTAH 84111 •801-359-8348•Mailing Address: P.O.BOX 11630•SALT LAKE CITY,UTAH 84147 UOCI 1 yG9v i eI I $,Y;l ,yYnr I i.3as= y , -.y- { }} N z 6 • E. ;F�g(�" 'r t� Li< D in l7 : ) Fri ,S' �. I. 3' N CU °� II5'°d 'i a In •4,`4 ` •4 .4 • 't ••--, G li o i Z I , IIct = 41 , ° 4 ' •I:ill. ...... `/ v {l 111 c; •84r. — i 1010.0 O 0. NIn f f a9 Z It , V Ov .._ F I 4 .rte e OS p w LL U _ o z c > m ¢ d 3 J i Q N Le 0 ¢ N .. m J 0W w tL m m03 H - n a w s N ' d w V ' � z < a \ V III • h, U_ a Y l J O 0 , . F. Z a a — cc _O w Z i xt in El x I F �d • �� s o I s I j V• O 2 d1 ✓ �� Z / ' Li, F_ O w J/��/ g ro, r� O D m m ") oo y1 a 6 3 w ct= Q �`� LL a .d O vi I ' 8 x F- N Q .+ F ,i = app �o J I z tom._ gm lN, J. U' .+ w—_ a 11 �G 8Up 0 <o- :a CO ili li i T 41 NOVA NATURAL RESOURCES CORPORATION May 13 , 1987 Town of Keota c/o' Betty L. Bivens, Treasurer Keota Star Route, Box 17 Grover, CO 80729 Re : Annual Delay Rental May 1987 - May 1988 _ - - —"Uranium-Lease- KT1456 Weld County, Colorado Dear Ms. Bivens : Yesterday we received the delay rental check which was sent to you on April 29 for payment on the above captioned lease . Obviously you returned this check for a reason, but we do not understand why. We know you received the check personally because of the return receipt with your signature and date of delivery on it. After several attempts to contact you by telephone failed , I am writing this letter to you in hopes that you will call me collect at ( 801 ) 359-8348 to discuss this returned check. If this check was returned because of the extra $1 . 00 bank charge , which according to your file is not necessary for desposit, please keep the extra $1.00 . It would be more trouble than it is worth to void this check and rerun another for a mere $1.00 . PLEASE CALL AT ONCE UPON RECEIPT OF THIS LETTER AS YOUR RENTAL CRACK IS NOW PAST DUE. WE WOULD LIKE TO CLEAR UP THIS MATTER AS SOON AS POSSIBLE. _ _ Thank you. Sincerely, fUO CORPORATION yt/ Terri L. Packham Executive Assistant /tlp 1560 UNIVERSITY CLUB BUILDING•SALT LAKE CITY, UTAH 84111 •801-359-8348•Mailing Address:P.O.BOX 11630•SALT LAKE CITY,UTAH 84147 ;.. : Return Item Notice WE HAVE THIS DAY CHARGED YOUR ACCOUNT AND RETURN UNPAID ITEMS DESCRIBED BELOW:. 6.INSUFFICENT FUNDS 10.REFER TO MAKER REASONS: 1. 7,NO ACCOUNT 11..SIGNATURE INCOMPLETE FEE , ..25ACCOUNT CLOSED 4.ENDORSEMENT MISSING 8.PAYMENT STOPPED 12.SIGNATURE NOT AUTHORIZED 3.DRAWN AGAINST UNCOLLECTED FUNDS 5.GUARANTEE OF.AMOUNT 9,POST DATED 13.STALE DATE REASON DRAWN BY DRAWN ON ,AMOUNT _ . L ACCOUNT NO. ' - DATE - APPROVED •] - TOTAL PLEASE MAKE THIS ENTRY'IN YOUR RECORD BOOK. ' t . To^ in . , . l, ,{ ❑ This item }et. cheated an - overdraft, • _ . -t q 'II ._. _ r Checking Deposit Bank Receipt �Savings Deposit of Greeley I3)3524WD.r.vo.ae.e Savings Withdrawal LC CAW GmlasbCom Greeley.coiar.eamen Thank you for banking with us. 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J .^l. • 0 300 • ; ;t 0. _ 3 i 0 WI-W O:Zm a 0 IOU EC I M U I_ _ _ _ _ I / _rte 1 3 i • • i Lei," S' \ 4 P I s J/ • I 1 ') 1 h ' •� 6 \Ct. s N a) r- H X _ m m ? cp a ON W N D O Nco 0• Pi 0) f N � � w 4J � _ 0m � v o -. v $ II i . - 9_0* W a+`l. O e E1, E`?C+.SJlihir ri ►1,06 Z.. z• -' Slit i'm -,�,�"�, o z ., a rx�a tiro ru ru g�= ~ a sxH W rR n m 1 # a . ho iw 0.5 Oa i.F J > i�a� i i • NOVA NATURAL RESOURCES CORPORATION April 29, 1987 Town of Keota --cio- BettyL-.--Bivens,-Clerk-- - -- - -- - --- - ---- - - Keota Star Route, Box 17 Grover, CO 80729 Re: Annual Delay Rental May 1987 - May 1988 Uranium Lease KT-1456 Weld County, Colorado Dear Ms . Bivens : Enclosed please find check 113832 in the amount of 526 .00 for payment of the May annual delay rental for the above captioned lease by and between the Town of Keota and Power Resources Corporation. Included in this amount is the ;1 .00 charge for this transaction . After approval of this payment, please sign the bottom of this letter and return it to me as proof of payment. A self-addressed envelope is enclosed for your convenience. Should you have any questions regarding this payment, please do not hesitate to contact our office. _ _Thank yyou for _your .prompt attention in this matter__ Sincerely, ICJ / g/F7 Na NATURAL' RESOURCES CORPORATION /��L j%� CU/' 'r�QJ 7 Cam_' I Terri L. Peckham l � �- Executive Assistant , 1987 lay of �� I AH 84111 •801-359-8348•Mailing Address:P.O.BOX 11630•SALT LAKE CITY, UTAH 84147 l!II= , n I } ;tl - -4 I �r 1 It , l 1 1 Z }} 6 ,^41I✓j j • . '� FfprJ _ I ' 0 � N Q t 5; :C "'0 Cel N l 1- qe'. 2 W ° i IE cc, r; \ ID cc Z , `m K ' 1a-, Im G ��,. 4, - LIJ ,la o Jff I ;;`ZI a• N 2 O k - - o .- t Id 1 Z • oI W (I -L.it I-0 it r a LL j { a W Cli m • J a I i • ° W FZ a . V W < y V a 'i j O -0• Z I x Q6 {/ I Q = Q U 1il O 0 w F Z cc > F 1 I. O ¢ , a CC o O o Occ ,- J• Z z Y ILIJ I — Op O 7 2 W • �_ m m CC 0 < m 2 g—c N. F. m) t z (7 ¢ or.) w 6LLW • I 2ILY °g 80< I F LAW OFFICES OF KIMBALL PARR, CROCKETT & WADDOUPS A PROFESSIONAL CORPORATION SUITE 1300 185 SOUTH STATE STREET POST OFFICE BOX 11019 SALT LAKE CITY, UTAH 84147 TELEPHONE 1801) 532-7840 Securities and Exchange Commission Washington, D.C. 20549 RE: Form 8-K Current Report of Nova Natural Resources Corporation, File No. 33-5520 Ladies and Gentlemen: Enclosed please find three complete copies of a Form 8-K Current Report filed by Nova Natural Resources Corporation. At least one of the enclosed copies has been manually signed. If the Commission has any questions or comments that it would like to discuss , please telephone R. Glen Woods of this office. Please call collect. Very truly yours , KIMBALL, PARR, CR & WAD OUPS . Glen Woods - - RGW:wt — —— --— — -- — _ Enclosures 6654 • SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: October 13, 1986 NOVA NATURAL RESOURCES CORPORATION (Exact Name of Registrant as Specified in its Charter) DELAWARE 33-5520 87-0435774 State of Incorporation Commission File (IRS Employer ID Number Number) P.O. Box 11630 136 East South Temple, Suite 1560 Salt Lake City, Utah 84147 -- -(—Address—of-Principal- Executive_Offic_.es)-.- .- - - - _ - --- - — -- - Registrant's Telephone Number (including area code) : (801) 359-8348 NOT APPLICABLE (Former Name, Former Address or Former Fiscal Year, If Chanced From Last Report) Item 2. Acquisition or Disposition of Assets On September 29, 1986, Nova Petroleum Corporation, a Colorado corporation ("Nova") , and Power Resources Corporation, a Wyoming corporation ("Powerco"), merged with and into Nova Natural Resources Corporation. Certificates of Merger have been filed with the Secretaries of State of the States of Colorado, Delaware and Wyoming, and the corporate existences of Nova and Powerco have been terminated. The terms and conditions of the mergers are set forth in that certain Registration Statement on Form S-4 filed by Nova Natural Resources Corporation on April 25, 1986, and subsequently amended on July 9, 1986, and again on July 31, 1986. 2 6651 • SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NOVA NATURAL RESOURCES CORPORATIO By Ro ert E. Mc aid, Presiden Dated: October 13, 1986 3 6651 rt POWER RESOURCES CORPORATION May 3, 1985 Town of Keota Mr. and Mrs. Raymond Dean BivenS Keota Star Route _ __ _ __ - --—' -Grover,—Colorado- 80729 RE:. Mining Lease #KT-1456 Weld County, Colorado Dear Lessor: On April 15, 1985 we tendered our rental check to you in the amount of $25.00 for the period beginning 5/1/85 to 5/1/86. We have not as yet received our "Rental Receipt" (2nd copy of the check) which was to be signed and dated and returned to us in the enclosed envelope. We received the green receipt card from the post office showing Betty Bivens signed for the check April 17, 1985 (see copy) . If the receipt has been misplaced, please sign, date (dating the day you originally received the check)-, and return a copy of this letter to us in the enclosed envelope. This information is imperative to our records. Thank you for your cooperation. Yourd very truly, ---_ __ —POWER. RESOURCES CORPORATION - _ @gAlArened Katie Altman Land Administrator KA Enc: copy of return card p Check #2396 for $25.00 received */-" ,/// f /7 - . DATE BY eXt 1 �� S/GNATURE • 1 391 CARR STREET, SUITE 21 1 , LAKEWOOD, COLORADO 80215 • 303-233-0450 • -n. ©SENDER:Complete items 1,2,3,and 4. I Add your address in the"RETURN TO"space t on reverse. -F' (CONSULT POSTMASTER FOR FEES) ! 1.Th owing service is requested(check one). 5 to whom and date delivered —' Show to whom, date,and address of delivery —$ ' ' 2.0 RESTRICTED DELIVERY -S (The restricted delivery fee it charged in addition to ' the return receipt fee) .- _ I TOTAL . $S ,' 3.ARTICLE A RESSED TO: j Town ot° Keota c/oBetty L. Bivens II Keota Star Route, Box 17 v Grover, Colorado 80729 x i 4. TY: SERVICE: ARTIr. NUMBER • m • G -GISTERED ED INSURED P i o -- � - caninED ❑coo - 481 -791---(=--- — - -- - -- --- - - - - - 9 Y--pp Mal -_ E.7 (Always obtain signature of addressee or agent) ' ' w I have received the article described above. I rg' - ; c • SIGNATURE 0 Addressee /❑ Authorized agent To' AD I• -SWIM O IQ A.OI -1 It. 6. ••DRESSEE'S ADDRESS(Only(frequented) / 1 I m, 98s �1 T) 7.UNABLE TO DELIVER BECAUSE 7A.ELP • - f � o mmE• 7 a; I 17,, T.---7 - 7'-3`7 I `s i ( 7: I, IEr4 m z 1 44 I tI 992' Z W m -" ,, ;r ti Q - o .13 a w gygo • G O� • m a n - N H O 1 / O < < W ' 1 o • w & H xcc i - N 0 w . 0 Q 1 CC ❑ j J f 0 I a0 \ ❑l • ¢ w I 1 ID Q --e\ \_, N I J I 0 1- 1 w J II❑ \ ; aco f ¢ ct U w m I- ) j o j __— !_.— w — I s ±+%w y r v r z n 'Y''` o �N ' '. gCO — icy g ' $r ° =w i s w O U co ti ,0 1.Y 0 4 c, __ I. tl LL _ �J�. 1 a 0>la z rc a \ o � ,. m W a \ s r 11 • • x (J ; uiii❑ ' •a i L1 ° ri z w Nen �� yy�,` L `. x a wOtl N m x �c° G t7ri L l .'.) !m 2 H m ui w z - i- 2 -t W a u lF�. ��. LL LL W O m OhZPei t N w FI / ZO 0 ( 0 osaf w a Wil 2W¢ 4 x ❑ I 0 w , tie'i LL O z m 0Z O 0 LL 03 } W L)0 0 N K 0 CI llV�II wJm 0 H Z } W Y U tt p Ipi m w yZt w ❑ a �_ Uww m tl LL ZWf 0 x mlm m ,.H a 0p m x p}F mLLI l'z CC ...y5 C J C j Z i x. x$ r4 o i + CO Q pj0 m O u i p w r V oho q a H "a a FO M cw } ; ; w m B. 1Q z Oa O O ul pi Z Z u z 1 .-I ❑t7 a 3 i •--I N • N O z E H ' ' N O - a w iCO 2a2 o o 20 { }o� rip w f u f w f VI .1 } o c.) z Q 1i m U Q Z • Cre O Z I •••H p x m w co u i a i• Q m w cc Q w i t CO U m l o o_ a m o K to 3-I b. G Ow � d b 0 to_ U O 0. - I �x J r-ra 1 I POWER RESOURCES CORPORATION April 4, 1985 • Town of Keota Mr. and Mrs. Raymond Dean Bivens Keota Star Route Grover, Colorado 80729 RE: Mining Lease $KT-1456 Weld County, Colorado Dear Lessor: We have been informed that the Hereford State Bank in Hereford, Colorado has been closed. Since this is where you designated that you wanted your delay rental checks deposited, and we do not know where you would like to receive payment, we are enclosing two (2) "Change of Depository" forms for you to execute by completing as follows: 1. Enter the name of your new depository and their address where indicated by the red X. If you wish to have your payment mailed to your regular mailing address just enter "Pay Direct" • in this space. 2. Please verify that we have your correct home address. If this hag changed also, then cross out the old address and enter you new address. 3. Sign and date the documents having your signature notarized on the back of the form. 4. Return one form to us, retaining the of er or your recor s. We would appreciate your immediate attention to this matter, as we would like to mail your check as soon as possible. • -- Thank you for your assistance. 1! �/- r. � � Yours very truly, � RESOURCES CORPORATION CllkAtdt'crPiCigijrrkkAjAk—iljiel-6Cfilj in to V7� fit Katie Altman 1�,.�.(� u Land Administrator KA v_- Ms ' Enc: Change of Depository (2) Stamped envelope • 1 391 CARR STREET, SUITE 21 1 , LAKEWOOD, COLORADO B021 5 • 303-233-0450 • rt POWER RESOURCES CORPORATION April 4, 1985 Town. of Keota Mr. and Mrs. Raymond Dean Bivens Keota Star Route Grover, Colorado 80729 RE: Mining Lease #KT-1456 Weld County, Colorado Dear Lessor: We have been informed that the Hereford State Bank in Hereford, Colorado has been closed. Since this is where you designated that you wanted your delay rental checks deposited, and we do not know where you would like to receive payment, we are enclosing two (2) "Change of Depository" forms for you to execute by completing as follows: 1. Enter the name of your new depository and their address where indicated by the red X. If you wish to have your payment mailed to your regular mailing address just enter "Pay Direct" in this space. 2. Please verify that we have your correct home address. If this has changed also, then cross out the old address and enter you new address. 3. Sign and date the documents having your signature notarized on the back of the form. -- 4.- Return one form to us, retaining the other for your records. We would appreciate your immediate attention to this matter, as we would like to mail your check as soon as possible. Thank you for your assistance. Yours very truly, POWER RESOURCES CORPORATION Katie Altman Land Administrator KA Enc: Change of Depository (2) Stamped envelope • 1 391 CARR STREET, SUITE 211 . LAKEWOOD, COLORADO BO215 • 303-233-0450 • f -.... __n_._ l a I11 / � • y w. •> I v I --- , v ( f I w Pl . ro ~ a 'J2 Q N I "*' .4. _ t O Z m 34m o I a t, - Pi 01 ro 30 434 o ) , . 0 N H i H O O ! {, m m v j O0 / O A Mu L i to t 0 { %I I i p 0 i I- - o u W Q Y U \\\.2_,aem..,a-tt,ac. N J w • Q NJ . W . N fO I- W O i M \ IA a F W ii W 3 �, Q ' O F I . I d / N Q I _ CO ' CO l r t'•nnmM. t. CIIANGE OF DEPOSITORY AND RATIFICATION OF LEASE KINTZEL OWE PRINT CO., 124 N. CENTER. CARPER. WYOMING • Lease No. KT-1456 WHEREAS, POWER RESOURCES CORPORATION ,hereinafter called parry of the first part, is the owner and holder of a mining leaseon the following described land in Weld County, State of Colorado , to-wit: Block 27 LeRoys Addition to the Town of New Keota; All • All Streets and Alleys It is the intent of both parties that this Lease shall include any mineral interest the_ Incorporated Town of Keota may own under Block-27 and dedicated — _ _ streets and alleys as platted on the map identified as "Map of First Addition to Keota, Weld County, Colorado" filed in the Office of the County Clerk and Recorder, Weld, County Colorado, on October 23, 1918. which lease was executed by Town of Keota • on the 20thday of April , 19 78 ; to POWER RESOURCES CORPORATION . for a term of TEN (10) years, and recorded in Book 833 Rec. # 754030 of the records of said_County, and State WHEREAS, the undersigned is the owner of an interest-in the .minerals subject to said lease, insofar as it covers Block 27 LeRoys Addition of the Townof New Keota; All All Streets and Alleys It is the intent of both parties that. this_Lease shall include any mineral _ _ interest the Incorporated. Town of Keota may own under Block 27 and dedicated streets and alleys as platted on the,map identified as "Map of First Addition to Keota, Weld County, Colorado" filed in the Office of the County Clerk and Recorder, Weld, County, Colorado on October 23, 1918. . • • NOW,-THEREFORE, FOR AND IN CONSIDERATION OF THE PREMISES, and of a full compliance - with the terms of said mining lease by party of the first part, its successors, heirs or assigns, for and during the remainder of the term of said mining lease,the undersigned hereby designates th4 C/ Bank of , its successors or assigns (instead of the Bank named an said lease or in any suusequent agreement), as the depository for delay rentals due or to become due under said lease insofar as it covers the interest•of the undersigned: The further option is hereby granted to the party of the first part to pay the undersigned's portion of delay rentals under said lease by its check made payable to the order of and mailed by Registered Leiter to the Postoffice address of the undersigned, to-wit: Town of Recta Keota StararB vvRoutnnet Clerk /7 • , , Grover, Colorado 80729 • Should party of the first part elect to maintain said lease in force, the deposit of rental to the credit of the undersig.ltd-in-thcabovc-named-Banks or;he-paymennof-said-rental=by-check•of.the-party-of-the-firsrparrmade pay- - -- - - able to the order of and mailed by Registered Letter to the Postoffice address of the undersigned, shall constitute a complete and legal payment of said delay rental; and, except as modified hereby, said lease shall remain in full' force and effect according to its terms, and said mining lease is hereby ratified'and confirmed by the undersigned including the release and waiver of the right of homestead and dower to the party of the first part, its successors, heirs or assigns.The party of the first part shall not be'responsible for the payment of such delay rental or any part thereof to the heirs, administrators,successors or assigns of the undersigned unless and until said party of the first part shall,be furnished with legally sufficient evidence of such change of ownership. This contract shall he binding on the heirs, successors, administrators or assigns of the undersigned. IN WITNESS WHEREOF, this instrument is signed on this the 'day of — —' I lo• 85 • '- ///� :V.Cy 1OC , f1% (SEAL) /� ��� Tow of eot R. n aond Dean Bivens 1 yp �J, (SEAL) • {SEAL) Town of eota by Betty L. Bivens,' Clerk ''�iLP=s�-c^•-�✓� (SEAL) • " r , Colorado STATE OF Oklahoma, Kansas, New Mexico,Wyoming.Montana;Colorado, Utah, weld 55. Nebraska,North Dakota,South Dakota COUNTY OF ACKNOWLEDGMENT—INDIVIDUAL __ - - St - BEFORE ME a Notary Public, In and for said County and State, on this day of 19 85 . personally appeared—II.z\mlond De'an'-Riyens _�/,r and Betty L. Givens = ,, , to me known to be the Identical person s , described in and who executed the within and foregoing instrument of writing and acknowledged to me that t•ht 1r' duly executed the same ac their free and voluntary act and deed for the uses. and purposes therein set forth. .. .. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal the day and year last above written. My Commission Expires . • Notary Public. - - ' - Residing at STATE OF - Oklahoma, Kansas,New Mexico,Wyoming,Montana,Colorado,Utah, }ss. Nebraska, North Dakota,South Dakota • COUNTY OF ) - ACKNOWLEDGMENT—INDIVIDUAL • • BEFORE ME • a Notary Public, in and for said County and State, on this day of .• 19 personally appeared • and , to me known to be the identical person ' , described in and who executed the within and foregoing instrument of writing and acknowledged to me that duly executed the same as free and voluntary act and deed for the uses and purposes therein set forth. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal the day and year last above written. My Commission Expires . Notary Public. Residing at • State of _.—._._.._ ,_ _._ _ --_-_.;-_ _ _ _ACKNOWLEDGMENT .(For use by Corporation) ss. County of -------- -----------...__.._On this__-__.._----_._day of ..—_.--•-------._......_..._.._--.---.—.-._. A. D. 19....—.._, before me personally appeared--__ _.—_—.._._._.._.— —, to me personally known, who, being by me duly-sworn; did say that he Is the. — —of.-: —..r.— —_--. _.—._.—. _._..__--_.__.and that the seal affixed to said Instrument is the corporate seal of said corpora- don and that said instrument was- signed and sealed in behalf of said corporation by authority of Its Board of Directors, and said .._..._..—...--_-....._..___.._..._—__..-._.__...—...—_ackmowledged said instrument to be the free act and deed of said corporation. Witness my hand and seal this —___.—_—___._...day of _ A. D. 19--. — (SEAL) Notary Public. My Commission expires —_.—_....,—_ . . • • i f I I A 9 t l ! I I i d. I s 6 ii a_ o, 2 bQ I 'a S q 8 o t� 8 e f31.1 g 2 r to. O N n i$ w a" M O I I I ng 3 .. o u 1. w ; I d x I j ` y I y ` m a id z I _ ' a o 3 CO j ! j z ! j . I t I i x i 1 b • g I u i i r II •a I I i I T i i i a 2 : F' -a ! > ! i m THIS LEASE is made and entered into on Ap111 20 ' 19 7 •,by a:'•d between POWER RESOURCES CORPORATION, a Wyoming corporation, with offices at 1660 So. Albion St.; 827, Denver CO. 80222, hereinafter called "Lessee," and Town of Keota ' 'Jaretd-- ./t ---7s vi do- ro Tz 9 whose address is Bea*-A5, Kaotn, C'n1nrado-80738 hereinafter called "Lessor." WITNESSETH: \\ • 1. Interests Leased. For and in consideration of the sum of Ten or more dollars paid to Lessor by Lessee, the reciept and sufficiency of which is hereby acknowledged by Lessor, the royalty herein reserved and the mutual covenants hereinafter set forth, Lessor hereby grants, leases, and lets exclusively unto Lessee, all uranium,thorium, -vanadium and all other minerals (hereinafter collectively "Subject Minerals") under the lands (hereinafter "Leased Premises") described herein, excepting only oil, gas, casinghead gasoline, sulphur, condensates and associated hydrocarbon substances, sand, gravel and caliche. Lessee shall have and is hereby granted, the right to remove and place in waste dumps any and all sand,gravel,caliche and other unleased materials occuring in the"overburden"which is reasonably necessary to be removed in connection with Lessee's operations hereunder, but if such substances are a part of,intermingled with or associated with any of the Subject Minerals covered by this lease, Lessee shall have the -right to dispose of same as Lessee may deem appropiate, without compensation to Lessor. - Lessor further grants to Lessee the right and privilege to enter upon the Leased Premises for the purpose of _surveying, exploring (including without limitation, geophysical and geochemical exploration), investigating, prospecting,drilling for,developing,mining(including without limitation strip,open pit,underground,solution or any - otlier`method-ofrecovering-minerals),-stockpiling,-wastedisposal,-removing,.milling,.shipping and marketing any of __- __ the Subject Minerals and incident to the foregoing to construct and use buildings,roads,camp facilities,shafts,tunnels, inclines,adits,drifts,pits,mine buildings,power and communication lines,ditches,canals,pipe lines,mills and related facilities,and other improvements related to the accomplishment of the foregoing;to use so much of the surface of the Leased Premises in such manner as may be reasonably necessary,convenient or suitable for or incidental to any of the rights or privileges;ofLessee hereunder or otherwise reasonably necessary to accomplish any of the foregoing;together with easements in and all rights of way for ingress and egress to and from the Leased Premises to which Lessor may be entitled, including-surface and subsurface easements across other lands presently owned or hereinafter acquired by Lessor; all of the foregoing rights pertaining to access to easements across and under and use of the surface of Leased Premises and other lands above referred to being granted irrespective of the specific location and ownership of the lands on which mining or other activities are being carried on by Lessee: to the lands located in 140,1d County, State of Colorado to wit: Block 27 LeRoys Addition to the Town of New Keota; All All Streets and Alleys • It is the intent of both parties that this Lease shall include any mineral interest the Incorporated Town of Keota may own under Block 27 and dedicated streets and alleys as platted on the map identified as "Map of First Addition to Keota, Weld County, Colorado" filed in the Office of the County Clerk and Recorder, Weld County, Colorado on October .23, 1918. and containing acres more or less. The parties further agree that any interest hereinafter acquired by Lessor to Subject Minerals underlying Leased Premises shall be deemed subject to therovisions of this lease. SUBJECT ONLY TO: existing leases, rights and encumbrances of record; the right of Lessor to use, lease and convey the surface of the Leased Premises subject to the rights granted to Lessee hereby; and the right of Lessor to develop, explore, produce or lease for development, exploration or production of oil, gas, and associated liquid hydrocarbons and.other_unleased_ ninerals.in.and.under_the Leased Premises insofar_as.the_same.may,be dtel ped,_.____�, explored or produced without materially interfering with Lessee's operations under the terms hereof. 2. Term of Lease. The term of this lease shall commence as of the first day of the first entire month following the execution hereof and this lease shall continue in full force and effect for a term of ten years from such commencement •,date,and so long thereafter as any of the Subject Minerals are produced from the Leased Premises,provided,however, if there is no reasonable market for any of the Subject Minerals as to which reserves including low grade mineralization not economically feasible at current market prices)have been developed on Leased Premises,or in the event production is prevented because of a force majeure within the meaning of paragraph 20,the term of this lease shall continue despite a lack of production (regardless of whether there has or has not been production of same or a-cessation of production whether before or after the expiration of the primary term) of any of the Subject Minerals on the Leased Premises if, during the period for which no production occurs,the annual delay rental payments required by paragraph 3 hereof shall be made. Lr Herford Dd Delay State RRentals. On or before each anniversary date of this lease,Lessee shall pay to the credit of Lessor in the , • Bank of Herford. Co. or any successor the sum of$ 25.00 as a delay rental or,'if in production, as a minimum royalty,the same to be reduced by the amount of any royalties received by Lessorifoi°production from the.Leased Premises during the preceding lease year and by any payments made by Lessee for purposes\authorized in paragraph 13 hereof and not theretofore recovered by Lessee from payments by Lessor or credits i `preceding years. Initials .' y ri 4 48 \ Alt► Page 1 4. Royalties. Lessor reserves as royalty ten per cent(10%)of all ores containing Subject Minerals produced and sold from the Leased Premises, based upon the value of such ores at the mine as produced in raw form before any processing or beneficiation and before such ores are transported away from the mine to a point of sale, storage, or processing. When ores containing Subject Minerals are sold by Lessee in raw form before any processing or beneficiation, the royalty shall be paid on the actual amount received by Lessee from the sale of such ores, after deducting transportation costs from the mine to the point of sale and deductions made by the purchaser of any such ores for sampling, assaying, weighing, penalties and other similar charges. When ores containing Subject Minerals are processed or beneficiated by or for the benefit of Lessee before being sold, said royalty shall be payable on the fair market value of such ores as produced in raw form at the mine,provided that,when uranium-bearing ores are processed or beneficiated for the recovery of uranium oxide(U308)contained in the ore,such value shall be determined as follows: 0.05% or less $5.00 0.06 7.00 0.07 9.00 0.08 11.00 0.09 13.00 0.10 15.00 0.11 19.00 0.12 23.00 0.13 27.00 0.14 31.00 0.15 35.00 0.16 42.00 - 0.17 - - - - - - - 49.00 - 0.18 56.00 0.19 63.00 0.20% 70.00 Over 0.20%add $3.50 per ton for each 0.01% U308 in excess of 0.20%. Fractional parts of a ton shall be valued on a pro rata basis to the nearest cent.All weights for purposes of this lease shall be dry weight. The result of the above calculation shall be multiplied by X divided by$40.00 where X is the per pound exchange value for immediate delivery of U308 concentrates("yellowcake") published by Nuclear Exchange Corporation ("NUEXCO") for the month in which the uranium-bearing ores are actually removed from the Leased Premises for processing or beneficiating. If NUEXCO no longer publishes such exchange value, a representative comparable value for the immediate delivery of U308 in concentrates ("yellowcake") shall be utilized. In the event uranium and other associated minerals are recovered from the Leased Premises by Lessee through in situ, leach or solution mining, Lessee shall pay Lessor a royalty in lieu of any other royalty set forth herein for each pound of U308 recovered of$1.33 multiplied by X divided by$40.00. X for the purposes of this formula shall be the per pound exchange value of uranium concentrates determined in the manner set forth in the immediately preceding paragraph above. The royalty on any mineral recovered as a by-product shall be payable only to the extent Lessee removes and sells same or is otherwise separately compensated for same. Payment of royalties shall be made by Lessee to Lessor,or to Lessor's credit in the Bank designated in paragraph 3. hereof. Such payment shall be made within thirty(30)days after the end of the calendar quarter within which said ore is processed,if processed by or for the benefit of Lessee or removed from the Leased Premises if sold by Lessee,and shall be accompanied by a statement showing weights, analyses and values of all ores, concentrates, minerals, and metals produced from the Leased Premises during such previous calendar quarter and the amount of the charges or costs deductible therefrom. _ _ , - - - _ - - = _— The mineral content of all ore mined and removed from the Leased Premises shall be determined by Lessee,or by the mill or smelter to which the ore is shipped, in accordance with standard sampling and analysis procedures. Upon request to Lessee,and Lessor's expense, Lessor shall have the right to have a representative present at the time samples are taken. In the event Lessee mills ore from the Leased Premises, Lessor shall be furnished,at the Lessor's request and at no expense, a portion of all or any samples taken for analysis. In that event,split samples shall be retained by Lessee for later analysis by an independent referee, and, in the event of a dispute concerning Lessee's assay of samples, royalty payments shall be based on the assay results of the independent referee selected by agreement of the parties.The cost of the referee shall be paid by the party whose assay shows the greatest variance from that of the referee. All residue or tailings remaining after the initial processing or milling of the crude ores mined from the Leased Premises shall be the sole and exclusive property of Lessee;provided that,if any such tailings or residues remain on any of the Leased Premises as to which this lease is terminated for a period of one year after the effective date of such termination, then, as between Lessor and Lessee, all such tailings shall be the sole and exclusive property of Lessor. 5. Maintainance of Operations. Lessee agrees to maintain all roads, camps, drillsites, and mines in a good and workmanlike manner. 6. No Drillsite near Dwelling House. No drillsite shall be located within 200 feet of any existing well or dwelling house unless the permission of Lessor is first had and obtained. 7. Limitation of Exploratory Work. No work shall be done by Lessee during exploratory operations that may interfere with lambing or feeding of livestock unless the permission of Lessor is first had and obtained. 8. Sheep-Tight Fences. Lessee agrees to enclose with a sheep-tight fence any excavations dangerous to livestock that it may make in the course of its operations. l 9. Maintainance of Fences. The Lessee agrees not to keep fences down at any point,to repair promptly al&road damage done by vehicles and equipment of Lessee and to erect gates or cattleguards in all fenc in thich'bp nings may be made for ore haulage. - j 1 Initials Page 2 10. Damages for Surface Use. Lessee shall pay Lessor the sum of$10.00 for each exploration or development hole drilled by Lessee on the Leased Premises as a liquidated sum for any damages caused by or related to said drilling. For all damages to the premises resulting from testing,injection and/or producing wells conducted in conjunction with in situ leaching or solution mining procedures,other than plant site damages hereinafter provided for,Lessee shall pay Lessor the sum of$5.00 per well as a liquidated sum for any damage caused by or related to the drilling and/or operation of said well. For each surface acre of land on which is situated any portable or non-portable facility other than a well for extracting minerals by situ leaching or solution mining procedures, and which is adversely affected by such facility insofar as the growing of planted crops,including grasses,is concerned,Lessee shall pay to Lessor,as land damages,the annual sum of$100.00 for each surface acre of land so affected. It is further agreed and provided,however,that in the event of the Lessee's use of the premises in conducting procedures for extracting all minerals recovered from the premises by in situ leaching or solution mining procedures adversely affects less than the total of two acres per year, Lessee shall pay Lessor the minimum annual sum of$200.00. However,nothing herein contained shall preclude Lessee from designating additional sites on said premises for continued in situ leaching or solution mining operations. Damage payments for such subsequent sites,if selected by Lessee,will be paid according to the terms and conditions of this Agreement, and will commence and terminate according to the terms hereof. For all other surface lands utilized by Lessee for mining,milling,construction of buildings,construction of roads, plant sites, mine dumps, waste and production facilities and other uses which permanently or indefinitely make such lands unavailable to Lessor, Lessee shall pay Lessor 125% of the then current value of the surface area actually appropriated by Lessee based upon the value of the land for the use then being made by Lessor of such lands. Lessor upon receipt of such payment shall execute a deed conveying to Lessee the surface to such lands in fee simple determinable so long as the lands are used for one or more of the foregoing specified purposes. Notwithstanding such conveyance the rental provided for in paragraph 3 and royalty provided for in paragraph 4 shall be payable with respect to the minerals produced from such lands. Lessee shall also pay Lessor reasonable compensation for any damage not otherwise compensated for hereunder caused by Lessee to Lessor's buildings, fences, personal property and growing crops. Except as otherwise provided by the foregoing provisions,Lessor hereby specifically agrees that the moneys paid and to be paid as rentals and royalties pursuant to paragraphs 3 and 4 constitute a liquidated sum in full payment for all surface use, damages (including those arising from disruption of Lessor's operations) and access as hereinabove provided and hereby waives any other claim for surface use and damage which might result from the activities of Lessee, its employees,contractors or assigns.Nothing contained in this paragraph 10 shall authorize the recovery by Lessor of special or consequential damages and such damages shall in no event be allowed. 11. Environmental and Related Considerations. Lessee agrees to abide by all valid federal and state laws,rules _ __and regulations governing mines,mineral exploration and environmental protection.Lessor acknowledges he is aware of the fact that his consent as surface owner may be required under existing or hereinafter enacted state or federal law-to -- -- any exploration,development,mining,milling or reclamation plan and that such laws may require Lessee as operator to furnish a bond to assure compliance with the approved plan. In the event Lessee shall apply to any appropriate (federal, state or local) authority for a permit or other form of authorization to carry on exploration, development, mining, or milling operations on Leased Premises or on other premises which affect Leased Premises, Lessor shall furnish Lessee and the appropriate authority with any consent, waiver or other document required from him as a surface owner. 12. Lesser Interest. In the event Lessor owns an interest in the Subject Minerals which is less than the entire and undivided mineral estate therein,whether or not such lesser mineral interest is referred to herein,then the royalties and delay rentals herein provided for shall be paid to Lessor only in the proportion that Lessor's interest therein bears to the whole and undivided mineral estate. Lessor shall be entitled to retain only such proportion of the moneys previously paid to Lessor hereunder as Lessor's said interest bears to the whole and undivided mineral estate,and Lessee shall be entitled to offset all other moneys previously paid Lessor hereunder against royalties and delay rentals which thereafter become due and payable to Lessor hereunder. This paragraph shall apply with equal force and effect to reduce payments pursuant to paragraph 10 herein when Lessor owns a lesser interest in the surface estate than the entire and undivided fee simple interest therein. Notwithstanding any other provisions of this lease,with respect to that portion,if any,of the Leased Premises in which Lessor owns no right,title,or interest in the Subject Minerals, Lessee is under no obligation to pay and Lessor has no right to receive,delay rentals or royalties. In the event of any dispute as to the right of Lessor as to the payment of royalties, minimum royalties, or delay rentals hereunder or as to the amount of such payments, Lessee shall not be deemed in default hereunder if it in good faith disputes same and promptly proceeds to have the dispute resolved by a court of competent jurisdiction. 13. Warranty. Lessor hereby warrants and agrees to defend the title to the Leased Premises, and agrees that Lessee, at its option, may pay and discharge any taxes, mortgages, or other liens existing, levied or assessed on or against the Leased Premises;may be subrogated to the rights of any holder or holders thereof;and may reimburse itself for any such expenditures out of any royalty or rental thereafter accruing to Lessor or by enforcement of subrogated rights against Lessor in any court of competent jurisdiction. 14. Exploration and Mining Operations. Subject io the provisions of paragraph-11, Lessee may use and employ methods of exploration and mining as it may desire or find most profitable and economical. Lessee shall not be required to mine,preserve,or protect in its mining operations any Subject Minerals which under good mining practices cannot be mined or shipped at a profit to the Lessee at the time encountered. Lessee shall have the right and privilege at any time,during the term of this lease and so long thereafter as it may hold an interest in the minerals hereunder to use any and all roads or workings located at any time on or under the Leased Premises and Lessee shall have the further right of mixing,either underground or at the surface or processing plant,any ores,solutions or other products(herein called "Products") containing Sul ct Minerals and produced from the Leased Premises or any portion thereof with Products from any other lands, pi vided that the mixing is accomplished only after the Products have been sampled and after the weight or volume thereof has been determined or ascertained by sound engineering principles. An accurate record of the tonnage or volume of Products and of the analysis of Products from each property going into such mixture shall be kept and made available to Lessor at all reasonable times. The tonnage or volume of Products from each property,together with the analysis thereof,shall be used as the basis of the allocation between the properties or production royalties paid from such Products. Initials c.G? Page 3 15. Assignment. The estate of either party may be assigned in whole or in part;provided,that no change in the ownership of the Leased Premises or assignment of royalties payable hereunder shall be binding upon Lessee until Lessee has been furnished with a written transfer or assignment or a certified copy thereof. In the event this mining lease shall be assigned as to a part or parts of the Leased Premises and the Lessee,or assignee or assignees of any part or parts, shall fail or make default in the payment of the proportionate part of the royalties due from him or them or otherwise breach any covenants contained herein, such default shall not operate to defeat or affect this lease insofar as it covers any other part or parts of the Leased Premises. An Assignment of this lease shall, to the extent of such assignment, relieve and discharge the Lessee of all obligations hereunder which have not theretofore become due. 16. Inspection. Lessor or its duly appointed representative shall have the right,exercisable at all reasonable times and in a reasonable manner so as not to interfere with the Lessee's operations,to go upon the Leased Premises, or any part thereof,for the purpose of inspecting the workings thereon. Lessor shall hold Lessee harmless from all claims for damages arising out of any death, personal injury, or property damage sustained by Lessor or Lessor's agents or servants while in or upon the Leased Premises as herein permitted,unless such death or injury arises as a result of sole negligence or willful misconduct of the Lessee. 17. Homestead. Lessor hereby releases and relinquishes any right of homestead exemption which Lessor may have in the Leased Premises. If the spouse of Lessor is not named above as a Lessor but executes this Lease, said execution shall be deemed for the purpose of releasing homestead and other marital rights, if any, only. 18. Multiple Lessors. Whenever two or more parties are entitled to receive delay rentals or royalties hereunder, Lessee may withhold payment thereof unless and until all such parties designate in a recordable instrument an agent empowered to receive all rental or royalty payments due hereunder and to execute division and transfer orders on behalf of said-parties and their respective successors in title. 19. Taxes. Lessor agrees to pay all general ad valorem taxes and assessments assesed against the Leased Premises and all taxes resulting from the Lessor's use thereof;provided that Lessee shall pay for that portion of such taxes which is attributable to any producing mine opened and operated on the Leased Premises by Lessee less the part thereof attributable to Lessor's royalty interest therein. Lessee shall pay all other lawful public taxes and assessments,whether general, specific or otherwise, assessed and levied upon or against the Leased Premises attributable to Lessee's operations, or upon any ores and other products thereof,or upon any property or improvements placed by Lessee on the Leased Premises;provided that if any tax(including ad valorem taxes)is now or hereafter levied on or measured by production,Lessor shall pay that portion of such taxes which is attributable to the royalty reserved herein. Lessee shall have the right in good faith to contest any of the above taxes,whether payable by Lessee or payable by Lessor,but shall not permit or suffer the Leased Premises or any part thereof, or any ore mined thereon, or any improvements or personal property thereon to be sold at any time for such taxes or assessments. 20. Force Majeure and Default. None of the parties hereto shall be liable to the other parties and no party hereto shall be deemed in default hereunder for any failure or delay to perform any of its covenants,agreements or obligations, other than the obligation to pay money, caused by or arising out or any act not within the control of the party, including, but not by way of limitation, acts of God, strikes, lockouts, or other industrial disputes, acts of the public enemy, war, riots, lightning, fire, storm, flood, explosion, governmental laws, regulations, or other governmental restraints,and inability to obtain necessary equipment or material in the open market. A party affected by such causes shall promptly notify the other parties in writing. No right of a party shall be affected for failure or delay of the party to meet any condition of this Agreement where such failure or delay is caused by one of the events referred to above,and at all times provided for in this Agreement the time to meet any such condition shall be extended for a period commensurate with the period of delay. Nothing contained herein shall require the settlement of strikes,lockouts,or other labor difficulties by the party involved,contrary to its wishes;the manner of handling or remedying any or all of difficulties or conditions referred to in this provision shall be entirely within the discretion of the party concerned. Failure by Lessee to perform or comply with any of the covenants of this lease shall not automatically terminate this lease or render it null and void, but Lessor may notify Lessee in writing of any asserted default and if in default, Lessee shall have a period of sixty(60)days.after receipt of such notice within which to cure,or commence to cure,-such— - - -- - -default,—arid;'except as otherwise provided in-this paragraph 20, if such default shall not have been cured within such time, Lessor may terminate this lease. 21. Pooling In connection with in situ leach or solution mining, Lessee is hereby granted the right to pool and combine acreage from the Leased Premises with acreage from other lands for the purpose of operating a drilling pattern set up for such mining at the boundary of said Leased Premises. In such event, Lessee shall have the location of such drilling pattern accurately surveyed to determine the position of the drilling pattern with respect to the property line or lines of the properties involved. The Lessee shall furnish the Lessors of the Leased Premises and of the other properties involved a copy of such survey. The allocation of royalties attributable to mineral containing solutions produced from the production well or wells involved in such drilling pattern shall be allocated to the respective royalty owners pro rata on the basis of surface acreage of the Leased Premises and other lands lying within such drilling pattern. It shall be conclusively presumed that the Subject Minerals which are produced are produced uniformly within the boundaries of such drilling pattern. In no event shall the drilling pattern used for the purpose of pooling under this paragraph exceed one hundred (100) feet on either side of the boundary line, or a radius of one hundred (100)feet from a point on the boundary line if the drilling pattern is irregular. 22. Further Documents. At the request and expense of Lessee, Lessor shall deliver to Lessee for the purpose of copying the same,any documents,abstracts, policies,or other information relating to the Leased Premises or Lessee's operations hereunder,and shall execute and deliver to Lessee any instructions,agreements,documents,or other papers reasonably required by Lessee including a recordable Memorandum of Lease to effect the purpose of this lease.Lessor shall at all times cooperate with Lessee in any reasonable way to assist Lessee in the effecting of the purpose of this lease. 23. No Implied Covenant. The creation of a royalty interest hereunder and other provisions hereof shall not imply an obligation on the part of Lessee to open or develop any mine on the Leased Premises,nor to mine,recover,remove or produce ores, materials, or minerals therefrom or to begin, perform, conduct, continue or resume exploration, development, mining or other operations on the Leased Premises. Any and all operations shall be commenced, conducted, terminated and resumed only if and to the extent and at such times and locations and by such methods as Lessee may in its sole discretion and from time to time elect. • Initials goillae #9. Page 4 24. Surrender. Lessee may at any time execute and deliver to Lessor, or place of record, a release or releases covering all or any portion or portions of the Leased Premises and thereby surrender this lease as to all or such portion or portions and, from and after the date of such release, thereby terminate all obligations including a proportionate amount of delay rentals,as to acreage surrendered except obligations accrued as of the day of the surrender. If this lease is surrendered or terminated for any cause, Lessee shall have one year after the effective date of such surrender or termination in which to remove all engines,tools,machinery,buildings,structures,headframes,trailers,ore stockpiles and all other property of every nature and description erected,placed or situated on the portion of the Leased Premises surrendered hereunder by it. Upon such termination Lessee shall close off and plug any open shaft to such extent that _ such shaft shall not thereafter be a hazard to persons or livestock using the surface of the Leased Premises. 25. Binding Effect. This lease shall be binding upon the parties hereto, and upon their heirs, successors and assigns. 26. Notice. Any written notice provided herein shall be sent by certified mail,postage prepaid,addressed to Lessor or Lessee, as the case may be, as set forth below or at such other address as to which notice is given hereunder. If to Lessor: Tnwn of Keota Petty Pivonc, Clork �� r, Box-95, -Kcota, Co,—II0738-- i liL��ii p If to Lessee: POWER RESOURCES CORPORATION - �O p C 72' 1660 So. Albion St. Suite 827 Denver, Colorado 80222 27. Other Provisions. Lessee may temporally close any street or alley provided alternate access shall be provided by lessee. Any damage to the streets and alleys including damage to the water system caused by lessees operation shall be repaired by lessee. No street or alley shall be closed or exploration hole drilled on a street or alley without approval of the Lessor. Approval will not be unreasonably witheld IN WITNESS WHEREOF,the parties hereto have set their hands and seals as of the day grid year firsrabove-written---- .. ._ - - - -_.— _ - -- -- - - _ _ . _ __-- LESSOR: LESSEE: P WE/ /OUR/CES CORPORATION CO • own of ' ed ota by Raymond Dean Bivens Social Security No.:cl��'/�� s Mayor ATTEST: Bey ^wazi.d Betty LQ-Jivens, Acting as Clerk Social Security No.: • D 7 — J y — T//7 '7 Social Security No.: Social Security No.: STATE OF C__4--eti • }ss: COUNTY OF y(I /�qC On this / day of 771.r , 19x, before me personally appeared /Pa/ift/ma//Lat. e-M-1,/ , 42, if/J l ,known to me to be the person(s) who is(are)described in and who executed the within and foregoing instrument and acknowledged that he d-.OL. - executed same for the purposes therein expressed. '•IN-WITNESS WHEREOF, I have set my hand and seal. Ivlyi conrmission'expires //� � 7 /1762 My-commi z/-P-2"----ssion,expires: .`�--- 4 / 9 7 Al_ 'r Notary Public Page 5
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