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7 <br />ECE-VEID <br />NUNING LEASE AGREEMENT" FEB 21 2019 <br />DIVISION OF RECLAMATION <br />THIS MINIl4G LEASE AGREEMENT "Lease" 11chlIVG AND SAFETY <br />between JAK VENTURES, LLC, a Colorado limited liability come 1� y e Bch, h I e <br />address is P.D. BOX 1708, Dillon, � PAY ("Lessor"}, whose <br />Colorado 80435, and VvrfMWATER BUILDING <br />MATERIALS CORPORATION, a Colorado corporation ("Lessee''), whose address is P.O. Bax <br />1769, Grand Junction, Colorado 81502. <br />RECITALS <br />A. Lessor owns the real property (the "Property), including all interest in Common <br />Materials (defined below), located in Mesa County, Colorado legally described in the attached <br />and incorporated Exhibits A, A-1 and A-2. <br />B. Two (2) pit lakes may be mined on the Property ("Pit I" and "Pit 5"} pursuant to <br />Permit Number M-2009-048 issued by the Colorado Division of Reclamation, Mining and Safety <br />("DRMS"). <br />C. Lessee is in the business of extracting, processing and selling Common Materials <br />of the nature located on and beneath the Property (the "Business,). <br />D. Lessor wishes to lease the property to Lessee, and Lessee wishes to lease the <br />Property from Lessor, for the extraction and processing of Common Materials located on and <br />beneath the Property, in accordance with terms and conditions of this Lease. <br />THEREFORE, for good and valuable consideration, the receipt and sufficiency of which <br />the parties acknowledge, the parties agree as follows: <br />TERMS <br />Grant of Lease. <br />1.1 Lessor grants to Lessee: (a) the exclusive right to develop, mine, produce, <br />remove, process, stockpile and market all sand, gravel, rock, stone and soil <br />(together sometimes referred to as "Common Materials"), except for top soil and <br />other materials required for reclamation of the Property, subject to the conditions <br />in this Lease; and (b) exclusive surface access and use of the Property, including, <br />by way of example and not limitation, placement and use of scales, crushers, <br />machinery, pumps and other equipment used in connection with the Business, and <br />also including installation of telephone lines, electrical Iines, and water lines on <br />the Property. Notwithstanding the foregoing, however, use of the existing paved <br />road on the Property is non-exclusive, as is access to Pit 5 in the event Lessee <br />does not elect to exercise the option described in subsection 3.2. Lessor further <br />grants Lessee the exclusive right to use so much of the water rights described in <br />Exhibit B (the "Water Rights") as may be useful in connection with the Business. <br />