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0,3-42 I.F05F SPRO L RnSFNF
<br /> of 8 R 41 00 D 0 c? GRQND COUNTY CI.FRK
<br /> SAND AND GRAVEL LEASE
<br /> WHEREAS, Morrow& Sons,Inc., a Colorado Corporation, and Kerry Murphy did enter
<br /> into a Sand and Gravel Lease on May 15, 1995 with respect to a parcel of property of
<br /> approximately 120 acres then owned by her located East of Crooked Creek in the SWl/4 of
<br /> Section 12, Township 1 South, Range 76 West of the 6th P.M., Grand County, Colorado; and
<br /> WHEREAS, Morrow & Sons, Inc. and Kerry Murphy did enter into a Water Lease
<br /> Agreement on May 15, 1995 with respect to certain water rights to be used on the above
<br /> described lands; and
<br /> WHEREAS,title to the leased property and water rights has been conveyed to MURPHY
<br /> MINING AND MINERALS,LLC.,a Colorado Limited Liability Company pursuant to Warranty
<br /> Deed recorded January 21, 2003 at Reception No. 2003-000910; and
<br /> WHEREAS, the parties desire to combine, amend and restate both of the said Leases.
<br /> NOW THEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, the parties agree as
<br /> follows:
<br /> 3
<br /> _ I. Parties:
<br /> This Lease is between MURPHY MINING AND MINERALS,LLC.,a Colorado Limited
<br /> Liability Company (as Lessor) and MORROW & SONS, INC., doing business as FRASER
<br /> VALLEY GRAVEL, LTD., a Colorado Corporation (as Lessee).
<br /> 2. Property:
<br /> Lessor hereby leases to Lessee the following described property:
<br /> A parcel of land in the SW1/4 of Section 12, Township 1 South, Range 76 West
<br /> of the 6th P.M. located east of Crooked Creek, containing approximately 120
<br /> acres, together with sufficient water rights in Crooked Creek for Lessee's
<br /> operations, and together with access from County Road 505 to subject property,
<br /> all being located in Grand County, Colorado (herein "Premises").
<br /> 3. Water Rights:
<br /> Lessor hereby grants,leases and lets exclusively unto Lessee for the purpose of excavating
<br /> and mining gravel on the above described Premises,the following described water rights in Grand
<br /> County, Colorado, to wit:
<br /> A spring and four ponds located in the SWIA of Section 12, Township 1 South,
<br /> Range 76 West of the 6th P.M., for which the spring is more particularly set forth
<br /> in Judgment and Decree in District Court, Water Division No. 5, State of
<br /> Colorado, dated April 21, 1997, in Case No. 95 CW 222, a copy of which is
<br /> Lessor's Initials �� 1 Lessee's Initials
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