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P f; c, 15 <br /> 1. Leasing & Grant of Easement <br /> a. Leasing. Lessor, in consideration of the minimum royalties provided <br /> herein, and subject to the terms, conditions, and provisions <br /> contained herein, leases to Lessee, The Leased Premises, as <br /> described above, for the purpose of quarrying, mining, removing, and <br /> marketing therefrom all sand, gravel, rock, and other materials, all of <br /> which are herein referred to as "Materials", and also for the purpose <br /> of setting up and operating, in Lessee's discretion, such processing <br /> equipment as may be desirable, including, without limitation, rock <br /> crushing and washing equipment, portable asphalt plant, and <br /> portable concrete batch plant. Lessee's rights with respect to the <br /> occupancy and operation of the Leased Premises shall be exclusive of <br /> use by any other party. <br /> b. Grant of Easement. Lessor hereby grants to Lessee for a term equal <br /> to the term of this lease plus any extensions thereof, a nonexclusive <br /> easement for access, ingress, and egress between the Leased <br /> Premises and A portion of section 9 Township 9 Range 57 Weld <br /> County Colorado, over and across that established roadway lying <br /> within the Burdened Property. Lessor and its successors agree that <br /> they shall not construct any buildings or other improvements on the <br /> Burdened Property which will have the effect of denying Lessee or its <br /> successors the practical benefit of access rights contemplated by this <br /> agreement. The above described Easement shall run with the land <br /> and shall be binding and ensure to the benefit of the successors and <br /> assigns of Lessor and Lessee with respect to the Leased Premises and <br /> the Burdened Property respectively. <br /> 2. Term of Lease; Option to Extend. The initial term of this Lease shall be for 5 <br /> years, commencing on November 10, 2014, and expiring November 10 <br /> 2019, unless sooner terminated according to the provisions herein. <br /> Additionally, Lessee is hereby given the exclusive option to extend the term <br /> of this Lease on all provisions contained herein, for two (2) additional five <br /> (5) year periods, following expiration of the original term, by giving notice <br />