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14 018 3 23 - Ate( <br />MULTI -PIT <br />MINING LEASE AGREEMENT �ecsamattat+ <br />Valn9 <br />This Multi -Pit Mining Lease Agreement (this "Lease") is made effective as of July 17, <br />2017 (the "Effective Date"), by and between KILGORE COMPANIES, LLC, a Delaware <br />limited liability company ("Kilgore") and A & C PARTNERSHIP, LLP, a Colorado limited <br />liability partnership ("Parkerson"). Collectively . Parkerson and Kilgore are referred to as the <br />"Parties" or individually as a "Party". <br />RECITALS <br />A. Parkerson owns the gravel pits with common names of C Road Pit, Woodring Pit, <br />Unaweep Pit, 23%4 Road East Pit, 23%, Road West Pit, 31 Road River Pit, Black Rock Pit and East <br />Douglas Pit (BLM Lease), Sunnyside Pit and associated acreage, each as further described on <br />Exhibit "A" (the "Properties,,). <br />B. Parkerson desires to lease to Kilgore and Kilgore desires to lease from Parkerson <br />the Properties and related rights for the purpose of mining, removing, and processing sand, gravel <br />and aggregate material. All the Properties are permitted except Black Rock Pit, 23 %4 Road West <br />Pit and 31 Road River Pit, and Kilgore shall assume all permit obligations, including but not <br />limited to reclamation. <br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which is hereby acknowledged, the Parties incorporate the recitals stated above and agree as <br />follows: <br />AGREEMENT <br />Term and Termination. <br />(a) Term. The term of this Lease shall be a ten (10) year period beginning on <br />the Effective Date (the "Initial Term"). <br />(b) Termination Date. Unless otherwise terminated as set forth herein, this <br />Lease shall terminate on the last day of the Initial Term or an Extension if extended pursuant to <br />Paragraph 1(c) (the "Termination Date"). <br />(c) D tion to Extend. Provided that Kilgore is not in default under the terms of <br />this Lease and that this Lease is otherwise in full force and effect, Kilgore shall have two (2) <br />options to extend this Lease for a term of ten (10) years each as of the date the extension term is <br />to commence, on the same terms and conditions set forth in the Lease (each, an "Extension" and <br />together with the Initial Term, the "Term"), except as modified by the following. If Kilgore elects <br />to exercise an Extension, Kilgore shall provide Parkerson with written notice no later than the date <br />which is six (6) months prior to the expiration of the then current Initial Term or Extension. If <br />Kilgore fails to provide such notice, then this Lease expires upon the end of the Initial Term, or <br />C.IATFY)LIv\ParB-o A & G1Ki190r6WL0ti-Pit Mining Lease Agm-7-12-17-deao.docx Page 1 of 18 <br />