2013-12-10_PERMIT FILE - M2013080 (6)

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This LEASE, made in duplicate, this _21 st_ day of _December , 2011, by and between John F. Craig III_, herinafter LESSOR, and PINE BLUFFS GRAVEL and EXCAVATING, Inc, hereinafter, LESSEE. 1. LEASED PREMISES AND TERM LESSOR, in consideration of the rents, covenants and agreements of LESSEE, hereinafter set forth, and in consideration of each and every act to be done by the parties hereto, does by these presents exclusively let, lease and rent to LESSEE for a term of five (5) years from the date of this LEASE or until terminated as herein provided, a certain tract of land described as follows: A Part, section 27 and 28, township 9 south, range 56 West, 60' principle meridian, Lincoln County Colorado, see legal description (attachment A), hereinafter referred to as PREMISES, for the purpose of mining and storing dirt, sand, gravel, and rock, hereinafter MATERIAL. The LESSEE shall have the right to extend this LEASE for an additional term of five (5) years by giving the LESSOR a written notice of such extension sixty (60) days previous to the expiration of the original five year term of this LEASE. If LESSEE exercises the 5 year extension period, LESSEE will pay LESSOR bonus of $10,000 and the royalty will be adjusted to mutually agreed rate not to exceed $1.00 per ton. 2. LESSOR'S WARRANTIES LESSOR warrants that she has marketable title to the PREMISES and authority to enter into this LEASE and so dispose of the MATERIAL deposits located on the PREMISES. 3. LESSOR'S COVENANTS LESSOR agrees LESSEE may obtain a Title Search on the PREMISES. If the title search shows there is a mortgage on the PREMISES, LESSOR shall furnish to the LESSEE a copy of the mortgage and agrees to obtain a signed mortgagee's waiver of royalty payments, or in lieu thereof, written instructions from the mortgagee and LESSOR for payment of the royalty. 4. LESSEE'S USE OF THE PREMISES LESSE4 shall have the exclusive right and authority to go upon said PREMISES with its employees, trucks and machinery and such other equipment as may be necessary for the purpose of mining and removing from the PREMISES all MATERIAL as LESSEE may desire. LESSEE, shall have full and complete access to any sand, gravel, and rock pits over and across the PREMISES of the LESSOR, including the right of ingress and egress thereto and therefrom for only those activities directly related to the mining of aggregate materials from the PREMISES. LESSEE shall have the further right, if it so desires, to erect and maintain on PREMISES, at its own cost and expense, such machinery and equipment as it shall deem necessary for the proper and economical working of said pit or pits and the removal of MATERIAL therefrom. LESSEE shall have the right to remove, if necessary, and where LESSEE may consider advisable, any soil, waste sand or overburden from such MATERIAL and to deposit the same on PREMISES. LESSEE agrees to install 2 cattle guards at existing gate