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Gravel Property Lease
<br />This Gravel Property Lease (this "Lease'), dated this day of
<br />�C�r's► �s. �._ _ , 2013, (hereinafter referred to as the "Lease'), by and between Verhoeff
<br />Farms, Inc. ( "Lessor "), whose address is 27354 Road JJ McClave, CO 81057, and All
<br />Rite Paving & Redi Mix, Inc., a Colorado Corporation ("Company"), whose address is
<br />P.O. Box 1720, Canon City, CO 81215.
<br />Recitals
<br />In consideration of the sum of Ten Dollars ($10) paid by the Company to Lessor,
<br />the receipt and sufficiency of which is hereby acknowledged by Lessor, and on and
<br />subject to the terms and conditions provided in this Lease, Lessor hereby leases, lets and
<br />demises to the Company the Materials as defined herein, in, on and under the following
<br />described real property situate in Bent County, Colorado:
<br />The East 1/2 of Section 34, Township 22 South, Range 50 West of the 6th P.M.,
<br />EXCEPT the South 1/2 of the South 1/2 of the Southeast 1/4 (40.0 acres) , the South
<br />1/2 of the North 1/2 of the Southwest 1/4 of the Southeast 1/4 (10.0 acres), and the
<br />South 1/2 of the Northwest 1/4 of the Southeast 1/4 of the Southeast 1/4 (5.0 acres) of
<br />Section 34, Township 22 South, Range 50 West of the 6th P.M.; representing 265
<br />acres, more or less, and
<br />the exclusive right to sample, drill, and test for, develop, mine, quarry, extract, process,
<br />convey, sell, use, and remove them during the Term of this Lease, along with the right to
<br />locate and operate and /or sublease aggregate, asphalt and concrete plants and with
<br />associated easements as provided herein.
<br />1. Definitions.
<br />a. Lease Year shall mean a period of one year beginning on the date the
<br />Term of the Lease commences, as set forth in Subsection e, below, or
<br />on any annual anniversary thereof.
<br />b. Materials shall mean stone, sand and gravel and any overburden, other
<br />than hydrocarbon minerals such as coal, oil, and gas and associated
<br />liquid hydrocarbons, that are removed incident to sand and gravel
<br />operations hereunder and which are saleable and recoverable from the
<br />Property in the course of such operations.
<br />C. Net Sales Ton shall mean 2000 pounds of Materials from the Property
<br />actually removed from said Property.
<br />d. Plant shall mean a portable and/or fixed facility for processing, storing,
<br />washing, sorting, handling loading and shipping of Materials, along
<br />Lessor lnitialsQd')-� Lessee Initials 1.4K_
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