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M - or f 0(f1 <br />AGREEMENT RECEIVED <br />For <br />Lease sip 3 a 2016 <br />For Mining and Production of <br />Gravel, Sand, Rock and Other Quarried Material <br />1�ffi%iw of Fiecsxsation, <br />m",& <br />By this Agreement made and entered into as of June 27, 2016 ("Effective Date'), between Eight <br />Mile, LLC, referred to as Landlord, and Everist Materials, LLC, referred to as Tenant, <br />("Agreement"), Landlord leases to Tenant the premises located in Grand County Colorado and <br />described in Exhibit A ("Cottonwood Quarry" or "Premises") for a term of three (3) years, to <br />commence on upon the date when both the State Permit and the County Permit, both described <br />below, have been transferred to Tenant ("Commencement Date") and to end on the same date in <br />2019, provided that Tenant shall have the right to renew this Agreement for three (3) additional <br />terms of three (3) years terms, by giving Landlord written notice of such renewal at least thirty <br />days prior to the end of each term. <br />RECITALS <br />A. Landlord is the owner of certain real property described in Exhibit A. <br />B. Cottonwood Quarry is permitted to be mined in accordance with the "State Permit" <br />issued by the Division of Reclamation, Mining and Safety, State of Colorado pursuant to <br />the Mined Land Reclamation Act, under Permit Number M-2004-061. <br />C. Cottonwood Quarry is permitted to be mined and other activities are permitted to be <br />carried on in accordance with the "County Permit" issued by Grand County, Colorado <br />under Resolution No. 2011-8-16. <br />D. Both the State Permit and the County Permit are issued to Linke Construction, Inc. <br />("LCI") and LCI is in possession of the Premises under a Lease dated October 27, 2003 <br />("Current Lease") that provides for a six (6) month period to wind down operations and <br />remove improvements and equipment from the Premises. <br />E. Tenant is entering into a separate agreement with LCI to acquire its improvements and <br />certain of its equipment for use by Tenant in carrying out its activities under this <br />Agreement and to take control of the Premises and be responsible for the operations and <br />for the reporting and payments to Landlord, all as of the Effective Date, provided that <br />LCI will continue to carry on its mining and production activities pursuant to the Current <br />Lease and pay the royalties and rent provided for in the Current Lease to Tenant at least <br />until the Commencement Date and, provided, further, that LCI will not have any <br />reclamation responsibilities if the State Permit and County Permit both are transferred to <br />Tenant. <br />F. In accordance with the terms and conditions of this Agreement, the parties desire to effect <br />a smooth transition from the Current Lease so that Tenant can lease from Landlord the <br />