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tgpt)(0l <br /> J. QUARTER CIRCLE MINERAL Co., LLC RECEIVED <br /> 801 8th Street, Suite 220 <br /> Greeley, CO 80631 SEP 2 6 2017 <br /> Phone: (303)396-8577 DMSION OF RECLAMATION <br /> September 22, 2017 MINING AND SAFETY <br /> Division of Reclamation, Mining and Safety <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 215 <br /> Denver, CO 80203 <br /> Fax: (303) 832-8106 <br /> Re: Transfer of Mineral Permit <br /> Current Permittee: Breeze Basin Resources, Inc. <br /> Successor Operator: J. Quarter Circle Mineral Co., LLC <br /> Permit Number: M-2011-017 <br /> Facility: Frentress Gravel Pit, Routt County, Colorado <br /> DEMONSTRATION OF LEGAL RIGHT TO ENTER <br /> J. Quarter Circle Mineral Co., LLC provides the following explanation and documents as <br /> demonstration of its legal right to enter the real property on which Frentress Gravel Pit operates: <br /> 1. J Quarter Circle Mineral Co., LLC was the successful bidder at the public auction of <br /> the "Frentress Ranch" on July 25, 2017. The Frentress Ranch is located west of Hayden, Routt <br /> County, Colorado and is generally identified by address as 5980 & 5982 County Road 65, <br /> Hayden, Colorado. J Quarter Circle Mineral Co., LLC is participating in a tax-deferred <br /> exchange pursuant to I.R.C. Section 1031 and the Reverse Exchange safe-harbor procedure of <br /> Rev. Proc. 2000-37. In following the required procedures, title to the Frentress Ranch cannot at <br /> this time go directly to J Quarter Circle Co., LLC but is to be titled in the name of and held by <br /> Highland Properties 3717 LLC until the exchange is completed and then the Frentress Ranch will <br /> be titled in the name of J Quarter Circle Mineral Co., LLC. To allow J Quarter Circle Mineral <br /> Co., LLC to have complete use and dominion over the Frentress Ranch, Highland Properties <br /> 3717 LLC and J Quarter Circle Mineral Co., LLC have entered into an Absolute Net Lease <br /> Agreement. By the terms of this lease provide that Tenant (J Quarter Circle Mineral Co., LLC) <br /> may use the land for all purposes. This provides J Quarter Circle Mineral Co., LLC access to the <br /> Frentress Gravel Pit which is located upon the Frentress. <br /> 2. Copy of the Warranty Deed dated September 22, 2017 from Kurt B. Frentress and <br /> Yvonne M. Frentress to Highland Properties 3717 LLC. The real property upon which Frentress <br /> Gravel Pit operates is contained within Parcel No. 1 in Section 13. <br /> 3. Copy of the Absolute Net Lease Agreement made September 22, 2017 wherein J <br /> Quarter Circle Mineral Co., LLC leased the Frentress Ranch from Highland Properties 3717 <br /> LLC and may use the Frentress Ranch for all purposes. This lease provides J Quarter Circle <br /> 1 <br />