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LEASE AGREEMENT <br />THIS LEASE AGREEMENT (the "Lease ") is made and entered into this�ed y of <br />201 - by and between WILLIAM H. PORTER ( "Landlord ") and LJS, LLC, a <br />Colorado limited liability company ( "Tenant "). <br />WITNESSETH: <br />ARTICLE I <br />LEASED PREMISES <br />Landlord owns the following described property, to wit: <br />See Exhibit "A" attached hereto (the "Leased Premises "). <br />Tenant wishes to lease said property from Landlord for the purposes of Tenant removing <br />stone, rock, gravel and/or any other minerals currently located on, within and/or under the <br />Leased Premises (the "Removed Materials "). In order to do so, Tenant will have to apply to the <br />State of Colorado and Larimer County, Colorado, for the necessary permits (the "Permitting <br />Process "). Landlord agrees to execute such documents as may be necessary to allow Tenant to <br />apply for said permits. Landlord acknowledges that the Permitting Process is estimated to take <br />approximately twelve (12) months. <br />ARTICLE II <br />TERM AND RENT <br />2.1 TERM. The term shall commence at 12:00 o'clock noon on the date of the Lease <br />and shall continue until 12:00 o'clock midnight on December 1, 2024, unless sooner terminated <br />under the terms of the Lease ( "Lease Term "). <br />2.2 RENT. <br />(a) Initial Rent. Until completion of the Permitting Process, Tenant covenants <br />and agrees to pay as rent the sum of One Hundred Dollars ($100) per month, payable on <br />or before the first day of each month. Upon the completion of the Permitting Process and <br />Tenant commencing the removal of the Removed Materials, this rent shall cease. If at <br />any time prior to the completion of the Permitting Process Tenant elects to terminate the <br />Lease, Tenant can do so by giving written notice of said intention to Landlord at least <br />thirty (30) days before termination of the Lease. <br />(b) Subsequent Rent. Once the Permitting Process has been completed, <br />Tenant shall pay to Landlord the sum of Eight Dollars ($8) for each ton of Removed <br />Materials removed by Tenant. Said rent shall be paid to Landlord on the first day of each <br />month and shall be for the Removed Materials removed during the previous month. Any <br />monies paid as monthly rent as set forth in Article 2.2(a) above, shall be a credit to be <br />