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646131 10 4 2016 8:01 A'4 Sharon Sisnroy <br /> 2 of 6 AGRNIT R$0,00 D$0.00 Otero County Clerk <br /> WHEREAS, the term of the aforementioned lease was for "the period that it takes to <br /> revegetate the mined area to the satisfaction of the Colorado Mined Land Reclamation Act"; and <br /> WHEREAS, Hancock and Otero County desire to terminate the aforementioned Lease <br /> Agreement and All-Rite Paving desires to lease the aforementioned property and to enter into its <br /> own Lease Agreement with Hancock; and <br /> WHEREAS, All-Rite Paving has agreed to assume and complete the reclamation <br /> requirements as concerns the area previously mined by Otero County, Colorado, to the <br /> satisfaction of the Colorado Division of Reclamation, Mining and Safety; and <br /> WHEREAS, the parties wish to put their agreement in writing in this regard; <br /> NOW, THEREFORE, based on good and valuable consideration, the receipt of which is <br /> hereby acknowledged, the parties hereby agree as follows: <br /> 1. With regard to the property subject to the "Hancock Gravel Pit Lease Agreement" <br /> dated October 30, 2006, described as: <br /> All that certain tract of land situated in the County of Otero, State of Colorado, <br /> described as follows, to-wit: <br /> Certain portions of the SE '/4 of Section 26, located in Township 23 South of <br /> Range 57 West of the 61h P.M. (See Exhibit "A" attached hereto). <br /> the parties agree as follows: <br /> (a) Hancock and Otero County agree to terminate the aforementioned Lease <br /> Agreement, and by way of separate Agreement, Hancock shall agree to <br /> release Otero County from any claim or liability under said Lease <br /> Agreement and to hold harmless Otero County as concerns the same. <br /> (b) Hancock and All-Rite will enter into a Lease Agreement concerning the <br /> property above-described. <br /> (c) All-Rite Paving agrees to: <br /> (1) Assume all liability for the reclamation of the affected land and for <br /> compliance with the Hard Rock Act and Rules or the Construction <br /> Materials Act and Rules, as applicable, and to hold Otero County harmless <br /> from any claim of any nature as concerns said reclamation. <br /> (2) Be liable for any pre-existing conditions or violations, whether <br /> known or unknown at the time of the transfer of Reclamation Permit No. <br /> M-1981-279. <br /> 2 <br />