2015-03-05_PERMIT FILE - M2015008

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State of Colorado Department of Natural Resources STATE BOARD OF LAND COMMISSIONERS 1127 Sherman Street, #300 Denver, Colorado 80203 SAND & GRAVEL LEASE NO. GL 109372 This Sand and Gravel Lease (the "Lease "), is made in duplicate and entered into this 5th day of February, 2015, by and between the State of Colorado, acting through its STATE BOARD OF LAND COMMISSIONERS, hereinafter referred to as Lessor, and GALLOWAY SG, LLC, 6915 Highway 9, P.O. Box 1120, Kremm ling, CO, 80459 hereinafter referred to as "Lessee ": WITNESSETH: Lessor, for and in consideration of the sum of One thousand two hundred eighty eight and no /100 Dollars ($1,288.00), receipt of which is hereby acknowledged as payment of the filing fee in the amount of $100.00, first years rent in the amount of $1,188.00, and a bonus in the amount of $ -0 -, and in further consideration of Lessees agreement to pay Three and no /100 Dollars ($ 3.00) per acre or fraction thereof annually as rental in advance of the anniversary date of this Lease so long as said Lease shalt remain in effect; and in further consideration of the terms, conditions and agreements herein and of the payment of royalties reserved herein, to be kept and performed by Lessee, its successors and assigns, does hereby lease to Lessee the right and privilege of exploring and prospecting for, developing, and mining of and taking of sand and gravel minerals from the lands herein described, situated in the County of Grand, State of Colorado, to wit: ACRES SUBDIVISION SEC- -fWP -RGE PATENT 395.95 NE; E2NW; N2SE; SESE; Lot 8 16 - 1S - 80W (6t' PM) 2388 FUND: School containing 395.95 acres, more or Less, (the "Leased Premises ") together with the right to use as much of the surface as may be reasonably required, including the right to reasonable ingress and egress; the right to make excavations, stockpiles, and other improvements as may be reasonably necessary in the mining and removal of said minerals; subject, however, to all existing easements and rights -of -way of third parties, and the rights of surface lessees and surface owners, and further subject to the terms, conditions and agreements set out in this Lease. The above - mentioned rights may be exercised in connection with mining on other or adjacent lands only when mining on such lands is carried on in conjunction with the actual mining on the Leased Premises. The benefits, terms, and obligations of this Lease shall extend to and be binding upon the heirs, executors, administrators, successors, or assigns of the respective parties hereto.