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Gravel Lease <br />W/K Land Company, Lessor <br />Northwest Aggregates, Inc., Lessee <br />NOV 0f?[i.5 <br />Division of Reclamation, <br />General Information <br />This LEASE AGREEMENT is made and entered into this i" day of June, 2014, between W/K Land Company, <br />911 Kbrberk Street, Longmont, CO $0101 ("Lessor"), and Northwest Aggregates, Inc., 2980E US Hwy 40, Craig, <br />CO 81625 (*LWae"). <br />Witness the <br />The legal description of the property is Weber Minor Subdivision; Lots 2,3 and 4. Subdivision is In Moffat <br />County, Colorado, and contains 28 acres. <br />a. Much of the land has previously been mined and the sand product was extracted and sold away. <br />b. Some sand product remains for mining and the Lessee are desirous of completing the sand mining. <br />c. The Colorado Mine Land Reclamation Bond Permit Is M1977-443. <br />d. A Colorado Mine Reclamation Bond Is in place for the reclaiming the land in the total principal amount <br />of $14,100.00. The band and reclamation of the property to the agreed upon reclamation terrain and <br />topography as spec/fled in the original application and permit, dated 1977. <br />General Tensa Oeseription• <br />The Colorado Mind Land Reclamation (Sod permit number which is currently M1977-443 and may change <br />upon transfer from Hard Rock Sand and Gravel to Northwest Aggregates will be listed In an addendum as <br />necessary. The mining operation will be conducted under that permit and by this name and the obligation for <br />reclamation will continue between the Lessee and the State of Colorado Mine Land Reclamation, and the <br />Lessor. The Lessor is to be held harmless from liability to the State. <br />Terms of the Leese end royalty: <br />The lease herein shall begin on June 1, 2014, end shall exist for an initial period of two years. The Lessee <br />agrees to comply with ail Mine Land Redamatlon Regulations and provide annual reporting, comply with all <br />Stats of Colorado laws for workman's compensation insurance, all property and liability insurance, naming <br />Lessor as and additional Insured on all insurances, and promptly pay all royalty payments, at least, monthly <br />during mining operations. <br />The Royalty payment shall be $1.50 per ton for the initial lease term. Advance Royalty Payment of $2,000.00 <br />par year shall be paid annually, beginning of the date of closing and each anniversary of the lease thereafter. <br />Advance Royalty shall be counted against production royalties, and if the Lessee falls to produce sufficient <br />offset, then the Advance Royalty payment shall not carry forward from one year to the next. <br />Lessor shall pay all Real and Personal Property Taxes; Lessee shell pay all severance and taxes. Lessee and <br />representatives shall have the right to egress in Ingress for all activIties related to mining and the perform all <br />activities necessary to extract mining products. <br />