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LEASE AGREEMENT <br />THIS LEASE AGREEMENT is made and entered into this _? day 2015 by and <br />among, George Homm and Helen Meek <br />whose address is <br />36574 US. 385 Burlington CO 80807 , hereinafter <br />collectively called LESSOR, and YUMA COUNTY, COLORADO, whose address is 310 Ash, Suite A, Wray, CO 80758, hereinafter <br />called LESSEE. <br />THE INITIAL TERM OF THIS LEASE shall be for a period of ten (10) years, commencing on January 1 , 2016 <br />and ending December 31 , 2026 . After the original term of this lease as set forth above, this lease shall renew <br />itself from year to year unless either party notifies the other in writing on or before the 1 It day of November in the year prior to which <br />expiration of this lease is desired. <br />WITNESSETH: That the LESSOR has this day leased to the LESSEE a portion of the following described property, <br />as specified in a permit issued by the State of Colorado Mined Land Reclamation Board, situated in the County of Yuma, <br />State of Colorado: —Section 28, Township 5 South, Range 44w_ <br />TERMS SPECIFIC TO LESSEE: <br />(a) LESSEE shall be responsible for periodic reclamation of the mined area located on the subject property, as shown in <br />Exhibit A attached, pursuant to the requirements of the permit issued by the State of Colorado Mined Land Reclamation <br />Board. <br />(b) LESSEE will hold the permit issued by the Colorado Division of Reclamation, Mining, and Safety and shall be responsible <br />for keeping the permit valid. <br />(c) LESSEE may not sublease the subject property without the prior written approval of LESSOR. This provision shall not <br />limit the right of ingress and egress necessary for LESSEE or its customers to mine and transport material from the <br />property. <br />(d) LESSEE will keep records of material removed from the site and shall provide to LESSOR a quarterly report of material <br />removed <br />(e) LESSEE will pay LESSOR $0.551yard or the current rate of material removed from the site, whichever is greater, subject <br />to annual review and determined by the Yuma County Commissioners. <br />(f) LESSEE agrees to install one (1) cattle guard and one (1) gate with locks at the access road as long as this gravel pit is <br />open and operated by Yuma County; and further agrees to maintain the surface of the right-of-way in a reasonable <br />fashion to protect the adjoining property. This will be left for landowner access when reclamation is completed. <br />TERMS SPECIFIC TO LESSOR: <br />(a) LESSOR will pay all property, material -severance, and any other real or personal property taxes, which may be assessed <br />or levied against the property. <br />(b) LESSOR will oversee the LESSEE'S reclamation of the pit. <br />(c) LESSOR agrees that LESSEE shall have the right of ingress and egress required for the removal of the material <br />anticipated under this Lease Agreement, limited to the now existing road. <br />(d) LESSOR or their agents may inspect the property at any time. <br />(e) LESSOR agrees, without further consideration and in compliance with the request of the LESSEE to cooperate with <br />LESSEE in obtaining and maintaining its permits for the subject property and furthermore, LESSOR agrees not to delay, <br />hinder, or in anyway interfere with the mining operations as long as the LESSEE is not in violation of the terms or <br />conditions of this agreement. <br />(f) LESSOR may obtain a maximum 100 yards of material per year at $O.00 per yard. All material shall be loaded only by <br />authorized LESSEE personnel during normal operations within the pit. <br />(g) LESSOR shall not sell material extracted from the permitted area. <br />(h) LESSOR shall not allow anyone to access or remove material from the permitted area without written approval by the <br />LESSEE. <br />(i) LESSOR, when entering the permitted area, shall abide by all Federal, State, and County regulations. <br />0) LESSOR has the option of having the permitted area fenced at the LESSEE'S expense if deemed necessary. <br />MISCELLANEOUS: This Lease Agreement may be altered, revised, or terminated only upon the written agreement of the parties <br />hereto. <br />IT IS FURTHER EXPRESSLY UNDERSTOOD AND AGREED that this Lease Agreement shall be binding upon the heirs, executors, <br />administrators and assignees of the respective parties hereto. <br />Dated this �� dayof 20)5 <br />LESSEE: LESSOR: <br />YUMA COUNTY, COLORADO I j <br />By YUMA COUNTYAOARD OF COMMISSIONERS <br />Trent B er airma'5 /� <br />Dean Wingfield <br />