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C O LO R A D O <br /> State Land Board <br /> oew,,=�-",n'wa.".m*euowces <br /> DecenmberZO. 2018 <br /> VE8CDCONSULT/NG SERV|CEG. LLC <br /> PO BOX 338G28 <br /> GREELEYCO80033 <br /> Via U5PScerbfied maU: 700801500001 7]5] 0064 <br /> Re: State Lease GL 3486 (SM 103486) - Default <br /> Vesco Consulting Services, LL[ ("Vesco") is the Lessee on State LeaseGL 3466 (SM 10I486) for <br /> the following state trust property: <br /> Township Ranp-le Section Subdivision Acres Lease Type <br /> /N 59Yv 16 NE 160 Sand and Gravel <br /> On July 25. I010' the Department of Law, on behalf ofthe State Land Board ("Board"), mailed <br /> Vesco and its attorney a Notice of Default and Demand for Cure. At that time, the amount past <br /> due Ln the Board totalled $33,329.44. Additionally, by letter dated September 14. 2018, the <br /> Board sent an additional notice ofdefault and demanded payment within thirty (30) days of <br /> t41,849.40. Currently, the following amounts totaling $56,543.06 remain unpaid by Vesco: <br /> * Production rnya(ties of $34'297.23 due to the Board for production reported for the <br /> period of June 1. 2Ol8to October ]1. 2O18 <br /> * Rent and advance noininnunn royalty of $15,400.00 that was due onAugust 1. 2018for <br /> the 2018 lease year <br /> * Late fees and interest in the amount Of $6,765.83 accrued due to idtp payments of <br /> production royalties due from ZD16'ZO18 <br /> Due to the failure o[ Ves[oto cure the default detailed in the July 25 and September 14, 2018 <br /> notices, the Board has the right Uo declare the Lease forfeited, In a telephone conversation on <br /> December 10. 2018 with Mr. Mike Miller of VeSco Consulting Services. \ was informed that no <br /> mining iscurrently taking place nnthis lease, and that no mining is expected before April 2O19. <br /> The Board is witting to extend the time allowed to cure the default listed above until April 1, <br /> 2O1q under the following conditions: <br /> r No mining of sand and gravel is allowed until Vescocures the default. <br /> * No additional [and shaUbe disturbed until V2sco cures the default. <br /> ° The [eased premises will be monitored and any attempts to mine material prior to curing <br /> the default vvi8 result in the tease being forfeited, <br /> OV <br /> 1m7 Sherman Street, Suiu,0O.Denve .comozn3'2zOa p }Vl866.]45* p30D.866.n5I <br /> www.colorado.gov/trustiands <br /> ��' <br />