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LEASE AGREEMENT <br /> _.. . .. (Aggregate Materials or Fill) <br /> THIS LEASE AGREEMENT is made and entered this 3151 day of MAY 2016 by and between: <br /> Horton Feed Lots, Inc. <br /> Whose principal place of business is located at <br /> 16972 Weld County Rd 61 LaSalle, CO 80645 <br /> (Referred to herein as"Lessor"), <br /> and <br /> Ames Construction, Inc., a Minnesota Corporation whose principal place of business is <br /> located at 2000 Ames Drive, Burnsville, MN 55306 ("Lessee'). <br /> RECITALS <br /> A. Lessee is the Contractor for construction of the WCR 49 Design Build Project <br /> from US 34 to 1-76; Project Number B1400202("Project") <br /> B. Lessor is the owner of a parcel of land consisting of approximately 10 acres, <br /> more or less, and located in Weld County, Colorado, legally described in the attached <br /> Exhibit"A" (the"Leased Property"); and <br /> C. Lessee desires to lease the Real Property for the limited purposes hereinafter <br /> described;and <br /> D. Lessor represents and warrants to Lessee that it has all requisite authority to, and <br /> desires to enter into this Lease with Lessee on the terms provided herein; <br /> Now therefore, in consideration of good and valuable consideration, and of the covenants <br /> and conditions hereafter set forth, the parties agrees as follows: <br /> AGREEMENT <br /> 1. Grant of Lease. Lessor does hereby grant demise and let unto Lessee, Lessee's <br /> successors and assigns, the Leased Property for the purpose of mining and removing any <br /> sand, gravel, rock or other material desired to be removed from the Property by Lessee <br /> within the boundaries of the Leased Property ("Leased Substances"). Lessee shall have <br /> exclusive use of the property for purposes set forth herein subject to other non-conflicting <br /> uses permitted by Lessor. <br /> 2. Term. This Lease shall be for a term of until November 301h 2017 <br /> commencing on the execution of this Lease, subject to the terms and conditions herein. <br /> 3. Royalty P yments. After execution of this Agreement and commencement of the Lease <br /> term, and Le ee shall pay to Lessor a royalty at the following rates: <br /> Lessor Initial: <br /> Ames Initial: I of 6 <br />