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LEASE AGREEMENT <br /> THIS LEASE AGREEMENT is made and entered into this 11 day of January 2019 by and <br /> among, Karen Seward whose address is <br /> 39101 CR E Yuma CO 80759 <br /> hereinafter collectively called LESSOR, and YUMA COUNTY, COLORADO,whose address is 310 Ash, Suite A, Wray, CO 80758, <br /> hereinafter called LESSEE. <br /> THE INITIAL TERM OF THIS LEASE shall be for a period of ten(10)years,commencing on January 2019 <br /> and ending December 31 , 2029 .After the original term of this lease as set forth above,this lease shall renew <br /> itself from year to year unless either party notifies the other in writing on or before the 15,day of November in the year prior to which <br /> expiration of this lease is desired. <br /> WITNESSETH:That the LESSOR has this day leased to the LESSEE a portion of the following described property, <br /> as specified in a permit issued by the State of Colorado Mined Land Reclamation Board,situated in the County of Yuma, <br /> State of Colorado: West Half of the Southeast Quarter(W1/2,SE1/4)of Section Nine(9),Township one(1)South,Range <br /> Forty-eight(48)West of the 6rh P.M Colorado. <br /> TERMS SPECIFIC TO LESSEE: <br /> (a) LESSEE shall be responsible for periodic reclamation of the mined area located on the subject property, as shown in <br /> Exhibit A attached,pursuant to the requirements of the permit issued by the State of Colorado Mined Land Reclamation <br /> Board. <br /> (b) LESSEE will hold the permit issued by the Colorado Division of Reclamation,Mining,and Safety and shall be responsible <br /> for keeping the permit valid. <br /> (c) LESSEE may not sublease the subject property without the prior written approval of LESSOR. This provision shall not <br /> limit the right of ingress and egress necessary for LESSEE or its customers to mine and transport material from the <br /> property. <br /> (d) LESSEE will keep records of material removed from the site and shall provide to LESSOR a quarterly report of material <br /> removed <br /> (e) LESSEE will pay LESSOR$0.55/yard or the current rate of material removed from the site,whichever is greater,subject <br /> to annual review and determined by the Yuma County Commissioners. <br /> (f) LESSEE agrees to install one(1)cattle guard and one(1)gate with locks at the access road as long as this gravel pit is <br /> open and operated by Yuma County; and further agrees to maintain the surface of the right-of-way in a reasonable <br /> fashion to protect the adjoining property. This road will be graded and left for landowner access when reclamation is <br /> completed. <br /> TERMS SPECIFIC TO LESSOR: <br /> (a) LESSOR will pay all property,material-severance,and any other real or personal property taxes,which may be assessed <br /> or levied against the property. <br /> (b) LESSOR will oversee the LESSEE'S reclamation of the pit. <br /> (c) LESSOR agrees that LESSEE shall have the right of ingress and egress required for the removal of the material <br /> anticipated under this Lease Agreement,limited to the now existing road. <br /> (d) LESSOR or their agents may inspect the property at any time. <br /> (e) LESSOR agrees, without further consideration and in compliance with the request of the LESSEE to cooperate with <br /> LESSEE in obtaining and maintaining its permits for the subject property and furthermore,LESSOR agrees not to delay, <br /> hinder, or in anyway interfere with the mining operations as long as the LESSEE is not in violation of the terms or <br /> conditions of this agreement. <br /> (f) LESSOR may obtain a onetime maximum 300 yards of material at$0.00 then 100 yards each year at$0.00per year with <br /> option to purchase 200 Yards at$8.00 per yard.All material shall be loaded only by authorized LESSEE personnel during <br /> normal operations within the pit. <br /> (g) LESSOR shall not sell material extracted from the permitted area. <br /> (h) LESSOR shall not allow anyone to access or remove material from the permitted area without written approval by the <br /> LESSEE. <br /> (i) LESSOR,when entering the permitted area,shall abide by all Federal,State,and County regulations. <br /> Q) LESSOR has the option of having the permitted area fenced at the LESSEE'S expense if deemed necessary. <br /> MISCELLANEOUS: This Lease Agreement may be altered, revised, or terminated only upon the written agreement of the parties <br /> hereto. <br /> IT IS FURTHER EXPRESSLY UNDERSTOOD AND AGREED that this Lease Agreement shall be binding upon the heirs,executors, <br /> administrators and assignees of the respective parties hereto. <br /> Dated this_L day of ^k 20 <br /> LESSEE: LESS R: <br /> YUMA COUNTY,COLORADO <br /> By YUMA C TY BOARD OF COMMISSIONERS <br /> Karen Seward <br /> Trent Bush r Chairman <br /> R bin ley <br /> Dean Wingfield <br />