2014-06-27_PERMIT FILE - M2014034

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A Quarry Lease Revised -4 property taxes are not currently assessed on the property, state law provides that each county shall levy a Possessory Interest Tax on the party who possesses real property owned by municipalities. Currently, leased municipal property is capitalized at thirteen percent of the actual value of the lease which is the present value of the future consideration provided for by the lease during the term of the lease, without consideration for credits, times the assessment rate of 29 percent times the appropriate �S o2 mil levy. makes no representations regarding the interpretation of this Lease Agreement with respect to the possessory interest tax. LESSEE shall promptly, as and when various installments on the same become due and payable, pay and discharge all possessory interest taxes, special assessments or property taxes which may become due for that period of time LESSEE occupies the premises. 12. Entire Agreement. This Lease represents the entire agreement between the parties. No additional provisions may be added unless said provisions are in writing and signed by each party. LESSOR hereby agrees that LESSEE shall have the right to record this Lease in the real property records of Huerfano County, Colorado. 13. No Other Materials. Except as otherwise expressly set forth herein,this Lease is not to be construed as authorization for the mining of any materials other than rock, sand, gravel and/or earth fill. 14. Damage Limited. Mining operations occurring outside the lease area shall be limited to the exchange of un-mined material for mined property. If the amount of material mined exceeds the amount under this contract, the LESSEE will be liable only for the portion amount under this contract plus a penalty of two and one-half cents ($0.025) per ton for all excess material mined LESSOR waives all rights for additional damages under tort, contract or equity as to excess material mined.