2014-12-05_GENERAL DOCUMENTS - M1993069

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Page: 1 of B R $48.00 0 $8.00 T $46.00 Pamela M. Bacon Clark b Recorder, Logan County, Cc AGGREGATE LEASE AGREEMENT THIS LEASE AGREEMENT WITH OPTION TO BUY MATERIAL ( "Lease ") is made and entered into by and between Neil M. Lindstrom, 110 Spruce Road, Sterling, CO 80751, ( "Owner"), and Vesco Consulting Services, LLC, 1624 E US Hwy 34, Greeley, CO 80631, ( "Vesco "). 1. Lease. In consideration of the mutual covenants contained herein the Owner does hereby lease to Vesco the real property more particularly described as follows and referred to hereafter as the "Leased Premises ": A parcel of land in the North Half (N1/2) of Section 17, Township 6 North, Range 51 West of the sixth principal meridian, Logan County, Colorado, said parcel being more particularly described as follows: NE % of the NW % and the NW % of the NE 1/4 Together with an exclusive option for the purpose of purchasing, processing, producing and removal of aggregate therefrom. A map of the Lease Premises is attached hereto as Exhibit "K. 2. Purchase of Materials. In the event Vesco desires to purchase any material located on the lands described above, the Owner will be paid a royalty at the rate of seventy cents ($30) (the "Purchase Price ") per ton for all aggregate removed by Vesco from the Leased Premises. At the end of each month of operations, Vesco will submit to Owner an accounting of the total number of tons of material extracted and removed showing dates the material was removed, and will pay for the material by the end of the following month. Vesco shall not be obligated to purchase any minimum amount of material under the terms of this contract. In the event no materials are removed during any month, no accounting is required. 3. Review of the Purchase Price. During the term of this Lease, the Purchase Price shall be reviewed by Vesco every year. The purchase price shall be recalculated and adjusted to reflect the changes in the consumer price index published by the Federal Government. That change shall be calculated and changed on the anniversary date each year. 4. Term. This lease shall commence on March 1, 2014 and shall remain in full force and effect for a term of six years.