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State of Colorado <br />Department of Natural Resources <br />STATE BOARD OF LAND CO&0W|SS|DNERS <br />11Z7 Sherman Street, #300 <br />Denver, Colorado 80203 <br />SAND & GRAVEL LEASE NO. GL 109372 <br />This Sand and Gravel Lease (the "Lease"), is made in duplicate and entered into this 5th <br />day of February, 2015, bv and between the State ofColorado, acting through its STATE BO�RD <br />OF LAND COMMISSIONERS, hereinafter referred to as Lessor' and GALLOWAY SG, LLC, 6915 <br />Highway 9, P.O. Box 1120, Kremmling, CO. 80459 hereinafter referred toas"Lesaee'': <br />Lessor, for and in consideration of the sum of One thousand two hundred eipht <br />eight and no/100 Dollars ($1,288.00), receipt of which iu hereby acknowledged as payment of <br />the filing fee in the amount of $100.00, first year's rent in the amount of $1 188.00, and a bonus <br />in the amount of $ -0-, and in further consideration ofLessee�s agreement to pay Three and <br />per acre or fraction thereof annually as rental in advance of the <br />anniversary date of this Lease so long as said Lease shalt remain in effect; and in further <br />consideration of the terms, conditions and agreements herein and of the payment ofroyalties <br />reserved herein' tobe kept and performed by Lessee, its successors and assigns, does hereby <br />tease to Lessee the right and privilege ofexploring and prospecting for, developing, and mining <br />of and taking of minerals from the lands herein described, situated in the <br />County o[Grand, State ofColorado, to wit: <br />ACRES SUBDIVISION SEC-TWP-RGE PATENT <br />FUND: School <br />containing 395.95 acres more nrless, (the "Leased Premises") together with the right touse <br />as much of the surface asmay be reasonably required, including the right to reasonable ingress <br />and egress; the hohL to make excavations, stockpiles, and other improvements as may be <br />reasonably necessary in the mining and removal of said minerals; subject, however, to all <br />existing easements and rights-of-way of third parties, and the rights of surface lessees and <br />surface owners, and further subject to the terms, conditions and agreements set out in this <br />Lease. Theabove'mnendoned rights may beexercised in connection with mining on other or <br />adjacent lands only when mining on such lands is carried on in conjunction with the actual <br />mining on the Leased Premises. The benefits, terms, and obligations of this Lease shalt extend <br />to and be binding upon the heirs, executors, administrators, successors, or assigns of the <br />respective parties hereto. <br />