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01 col STATE O1= COLORADO
<br /> STATE 130ARD OF LAND COMMISSIONERS
<br /> n O
<br /> SAND & GRAVEL LEASE NO. GL 112629
<br /> This Sand and Gravel Lease (the "Lease"), is made in duplicate and entered into this 15th day of July, 2019,
<br /> by and between the State of Colorado, acting by and through the State Board of Land Commissioners,
<br /> located at 1127 Sherman Street, Suite 300, Denver, CO 80203 ("Lessor"), and Southway Construction
<br /> Company, Inc., whose address is 117 White Pine Drive Alamosa, CO 81101, ("Lessee"):
<br /> WITNESSETN: Lessor, for and in consideration of the sum of two thousand four hundred twenty and
<br /> no/100 Dollars ($2,420.00), receipt of which is hereby acknowledged as payment of the filing fee in the
<br /> amount of$500.00, first year's rent in the amount of one thousand nine hundred twenty and no/100 Dollars
<br /> ($1,920.00), and in further consideration of Lessee's agreement to pay Three and no/100 Dollars ($3.00)
<br /> per acre annually as rental in advance of the anniversary date of this lease so long as said tease shalt
<br /> remain in effect; and in further consideration of the terms, conditions and agreements herein and of the
<br /> payment of royalties reserved herein, to be kept and performed by Lessee, its successors and assigns, does
<br /> hereby lease to Lessee the right and privilege of exploring and prospecting for, developing, and mining of
<br /> and taking of Sand & Gravel minerals from the lands situated in the County of Nuerfano, State of Colorado,
<br /> more particularly described in Exhibit A attached hereto and made apart hereof ("Leased Premises").
<br /> The Leased Premises together with the right to use as much of the surface as may be reasonably
<br /> required, including the right to reasonable ingress and egress; the right to make excavations, stockpiles,
<br /> and other improvements as may be reasonably necessary in the mining and removal of said minerals;
<br /> subject, however, to at[ existing easements and rights-of-way of third parties, as detailed on Exhibit B to
<br /> this agreement, and the rights of surface lessees and surface owners, and further subject to the terms,
<br /> conditions and agreements set out in this Lease. The above-mentioned rights may be exercised in
<br /> connection with mining on other or adjacent lands only when mining on such lands is carried on in
<br /> conjunction with the actual mining on the Leased Premises. The benefits, terms, and obligations of this
<br /> Lease shalt extend to and be binding upon the heirs, executors, administrators, successors, or assigns of the
<br /> respective parties hereto.
<br /> RESERVING, however, to Lessor:
<br /> a) All rights and privileges of every kind and nature, except as are herein specifically granted.
<br /> b) The right to use or lease said premises or any part thereof at any time for any purpose,
<br /> including the right to explore and prospect said premises, which use and leasing of said
<br /> premises shalt be for purposes other than and not inconsistent with the rights and privileges
<br /> herein specifically granted.
<br /> c) The right to dispose of or lease the surface where Lessor is the surface owner.
<br /> d) The right at all times during the life of this lease to go upon said premises and every part
<br /> thereof for the purpose of inspecting said premises, and the books of accounts and records of
<br /> mineral workings therein, and of ascertaining whether or not said Lessee and those holding
<br /> thereunder by and from it, are carrying out the terms, covenants and agreements in this
<br /> tease contained. It is agreed that during all proper hours and at all times during the
<br /> continuance of this tease, Lessor or Lessor's duty authorized agent, is authorized to check
<br /> assays and scales as to their accuracy, to go through or on any part or all of the Leased
<br /> Premises to examine, inspect, survey and take measurements of the same and to take
<br /> samples of any kind and to examine and make extracts from or copies of all books and weight
<br /> sheets and records which show in any way the ore output, ore values, payments and royalties
<br /> GL 112629 Revised DOL 11/2018
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