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shall incur any and all costs of alterations performed by it or its contractors to the access roads. <br /> Any alterations to accesses shall not impede or alter Lessee's operations. <br /> C. The lease estate, the right-of-way and other appurtenant rights described in <br /> Paragraphs a &b above are collectively referred to herein as part of the Leased Premises. <br /> 3. Term and Option to Extend. The term of this Lease shall be perpetual, commencing as of <br /> the Effective Date and until terminated by Lessor or Lessee in accordance with the terms hereof, <br /> or amended,modified or replaced by the mutual written agreement of the parties (the"Term"). <br /> 4. Termination. Lessor shall have the right, in Lessor's sole discretion, to terminate this <br /> Lease on ten(10) days' prior written notice to Lessee. <br /> S. Royalties. [INTENTIONALLY REDACTED] <br /> 6. Equipment. Lessee shall provide, at its own expense, all necessary equipment for <br /> sampling, drilling and testing for, excavating, removing, crushing, screening, washing and <br /> selling sand and gravel. <br /> 7. Labor. Lessee shall have the sole responsibility to hire, oversee and compensate any <br /> personnel necessary to operate any sand and gravel operation. <br /> 8. Water. Unless otherwise agreed, Lessee will provide sufficient water for all of Lessee's <br /> operations on Lessor's property. <br /> 9. Permits. Unless otherwise agreed between the parties, all mining permits from the <br /> Colorado Division of Minerals and Geology and all special use permits and other permits or <br /> authorizations required by state, county or local authorities to conduct sand and gravel extraction <br /> and processing operations on Lessor's Property shall be obtained and maintained in Lessee's <br /> name, and Lessee shall post any reclamation bonds or undertakings required for such operations. <br /> Prior to commencing sand and gravel operations, Lessor and Lessee shall have the active mining <br /> permit transferred under Lessee's name with the State of Colorado. Lessee shall fully comply at <br /> all times with those Permit obligations and conditions applicable to Lessee's operations on <br /> Lessor's Property. <br /> 10. Records to be kept. Lessee shall keep accurate records of quantities, nature and weights <br /> of materials produced from the Property, whether removed from the Property or stockpiled on <br /> the Property, which records shall be available for inspection by Lessor at all reasonable times <br /> during business hours. Production records shall be kept for a period of three years after their <br /> creation. <br /> 11. Lessee's Operations on Premises. <br /> a. Lessee shall use the Leased Premises only consistent with for mining, extraction <br /> and processing of Sand and Gravel and storage and maintenance of equipment and raw materials <br /> therefor, and other related purposes set forth in Sections 1 and 2.a of this Lease. <br /> ACTIVE 41147961 v 1 07/06,'2016 2 <br />