2019-03-18_REVISION - M2009048 (5)

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ikA240900 MEgNG LEASE AGREEMENT FEB 2 7 2C 19 DIVISION OF RECLAMATION MINING".ND SAFETY THIS MINING LEASE AGREEMENT("Lease")is effective the I"day of March, 2019, between JAK VENTURES, LLC, a Colorado limited liability company ("Lessor"), whose address is P.O. BOX 1708, Dillon, Colorado 80435, and WHITEWATER BUILDING MATERIALS CORPORATION, a Colorado corporation ("Lessee"), whose address is P.O. Box 1769, Grand Junction, Colorado 81502. RECITALS A. Lessor owns the real property (the "Property"), including all interest in Common Materials (defined below), located in Mesa County, Colorado legally described in the attached and incorporated Exhibits A,A-1 and A-2. B. Two (2) pit lakes may be mined on the Property ("Pit 1" and "Pit 5") pursuant to Permit Number M-2009-048 issued by the Colorado Division of Reclamation,Mining and Safety ("DRMS"). C. Lessee is in the business of extracting, processing and selling Common Materials of the nature located on and beneath the Property(the "Business"). D. Lessor wishes to lease the property to Lessee, and Lessee wishes to lease the Property from Lessor, for the extraction and processing of Common Materials located on and beneath the Property, in accordance with terms and conditions of this Lease. THEREFORE, for good and valuable consideration, the receipt and sufficiency of which the parties acknowledge,the parties agree as follows: TERMS 1. Grant of Lease. 1.1 Lessor grants to Lessee: (a) the exclusive right to develop, mine, produce, remove, process, stockpile and market all sand, gravel, rock, stone and soil (together sometimes referred to as "Common Materials"), except for top soil and other materials required for reclamation of the Property, subject to the conditions in this Lease; and (b) exclusive surface access and use of the Property, including, by way of example and not limitation, placement and use of scales, crushers, machinery,pumps and other equipment used in connection with the Business, and also including installation of telephone lines, electrical lines, and water lines on the Property. Notwithstanding the foregoing, however, use of the existing paved road on the Property is non-exclusive, as is access to Pit 5 in the event Lessee does not elect to exercise the option described in subsection 3.2. Lessor further grants Lessee the exclusive right to use so much of the water rights described in Exhibit B (the"Water Rights") as may be useful in connection with the Business.