2014-01-21_REVISION - M1999058 (9)

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LEASE AGREEMENT THIS LEASE AGREEMENT is entered into this , day of l9 by and between the Town of Marble, P.O. Box 802, Carbondale, Colorado 81623 (hereinafter "Town ") and Colorado Stone Quarries Inc., a Delaware CorporaOon(hereiriafter "Colorado Stone'. WITNESSETH: WHEREAS, the Town owns certain property it wishes to rent to Colorado Stone to use as a marble block loading and supplies an equipment storage site; WHEREAS, the parties desire to execute this Lease Agreement to determine the terms and conditions set forth herein. NOW, THEREFORE, for and in consideration of the mutual promises and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: I. Emmious Lease A m n t Terminated. The lease agreement executed by Sierra Minerals and the Town of Marble on March 1, 2002 shall terminate on November 30 2005. 2. P_ ron rtv. The Town herein leases to Colorado Stone, and Colorado Stone leases from the Town, that portion of the Town Park area as indicated in Attachment Number 1 (hereinafter "Premises "), and further described as: the Oil House, and the southwest corner of the Historic Mill Site parking area, south of the Oil House, and the southwest corner of the Historic Mill Site parking area, south of the Oil House, west of 3"r Street, east of the mill site ruins, and north of the Crystal River. Access and use of the Oil House is to be included in the Premises. 3. Terms, This Agreement-shall be effective as of the 1st day of December of 005 and end on the last day of November of 2M. This lease shall be automatically renewed for successive one year terms unless the Towfi or Colorado Stone provides written notice of termination. At such time as &ny term ends the teams and conditions of this lease are subject to renegotiation, and either the town or Colorado Stone may terminate the Agreement if acceptable terms and conditions cannot be agreed upon. 4. Payment. Colorado Stone shall pay to the Town the total sum of $1500$ per month for the leased Premises for the first 12 months,. At each anniversary date during the term of this Agreement, the rent shall be increased of 5 % of the then existing rent. Rent shall be paid by the seventh day of the month in which it is due, by mail or hand delivery to the Town's post office box, as listed above. If the rent is paid after the 7a' day of the month, Colorado Stone shall also pay a late charge of $35.00 per day. In the event, Colorado Stone is in default failing to pay the rent for more than sixty days, then the Town may provide a notice that within three business -(3) days the lease will be terminated. If Colorado Stone pays the entire amount due within three business days after receipt of this notice, then this Agreement shall remain in force for the term specified herein. Any previous default that has been completely cured by Colorado Stone may not be used by the Town as a sole reason to terminate this Agreement at a later date. 5. Ilse of premises. Colorado Stone shall use the Oil House on the Premises for the purpose of storing fuel, oil, parts and supplies for the temporary maintenance of its trucks and other heavy equipment. All storage of materials shall conform to the state and federal regulations. The Oil house may also be used as necessary for office and communications. The remainder