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- . M <br /> Gravel Property Lease 1 y <br /> This Gravel Property Lease (this "Lease"), dated this 9T-1 day of <br /> 2019, (hereinafter referred to as the "Lease"),by and between James L. <br /> and Ibiania K. Watson("Lessor"), whose address is PO Box 383, and Fremont Paving& <br /> Redi Mix, Inc., a Colorado Corporation ("Company"), whose address is 839 Mackenzie, <br /> Canon City, CO 81212. <br /> Recitals <br /> In consideration of the sum of Ten Dollars ($10)paid by the Company to Lessor, <br /> the receipt and sufficiency of which is hereby acknowledged by Lessor, and on and <br /> subject to the terms and conditions provided in this Lease, Lessor hereby leases, lets and <br /> demises to the Company the Materials as defined herein, in, on and under the following <br /> described real property situate in Rio Blanco County, Colorado (known as the Amick Pit <br /> M 1979-103) with a legal description as follows: <br /> Northeast quarter of the Southeast quarter of Section 36, Township 1 North, Range 94 <br /> West of the 6"Prinicipal Meridian <br /> And <br /> Northwest quarter of the Southwest quarter and the Southwest one half of the Northwest <br /> quarter of Section 31, Township 1 North, Range 93 West of the 6"Principal Meridian. <br /> the exclusive right to sample, drill, and test for, develop, mine, quarry, extract, process, <br /> convey, sell, use, and remove them during the Term of this Lease, along with the right to <br /> locate and operate and/or sublease aggregate, asphalt and concrete plants and with <br /> associated easements as provided herein. <br /> 1. Definitions. <br /> a. Lease Year shall mean a period of one year beginning on the date the <br /> Term of the Lease commences, as set forth in Subsection e, below, or <br /> on any annual anniversary thereof. <br /> b. Materials shall mean stone, sand and gravel, aggregate and any <br /> overburden or other material, other than hydrocarbon minerals such as <br /> coal, oil, and gas and associated liquid hydrocarbons, that are removed <br /> incident to sand and gravel operations hereunder and which are <br /> saleable and recoverable from the Property in the course of such <br /> operations. <br /> C. Net Sales Ton shall mean 2000 pounds of Materials from the Property <br /> actually removed from said Property. <br /> � 1 <br /> Lessor lnitialsakL <br /> Lessee Initials*� <br />