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GRAVEL LEASE AGREEMENT <br /> THIS GRAVEL LEASE AGREEMENT ("Lease") is made this day of <br /> 2019 ("Commencement Date') by and between 4B Land & Livestock, <br /> LL , 5801 Highway 394, Craig, CO 81625 (referred to as "Lessor") and Oldcastle SW Group, <br /> Inc. dba United Companies, a Colorado corporation, 2273 River Road, Grand Junction, CO <br /> 81505,(referred to as"Lessee"). <br /> II. GRANT OF LEASE <br /> Lessor,in consideration of the agreements to be performed by Lessee and the payment of <br /> royalties by Lessee as provided in this Lease,and subject to the terms,conditions,and provisions <br /> contained in this Lease, leases to Lessee a portion of that certain tract of land situate in the <br /> County of Moffat, State of Colorado to be more specifically defined and provided herein <br /> ("Leased Property"), known as the Breeze Basin Sand & Gravel Pit and Access Road (Gravel <br /> Pit), more particularly described on Exhibit A describing the Gravel Pit and Exhibit B showing <br /> the Access Road, attached hereto and incorporated herein by reference, for the purpose of <br /> quarrying, mining, washing, crushing, stockpiling, storing, importation, resale, recycling, <br /> removing, selling and marketing all sand, gravel, rock, and/or dirt (referred to as "Material") <br /> from the Leased Property, and the operation of a crushing plant, a wash plant, a ready-mix <br /> concrete and/or asphaltic concrete plant or any other business whose primary activity is the <br /> utilization of concrete and/or asphaltic concrete products (collectively referred to as "Gravel <br /> Mining Operations"),and all other related activity by Lessee on the Leased Property. <br /> III. TERM OF LEASE <br /> The term of this Lease shall be for a ten (10) year period (the "Term") unless sooner <br /> terminated when it is determined by Lessee that Lessee can no longer economically remove <br /> mineable and merchantable Material from the Leased Property, in Lessee's sole discretion, or <br /> pursuant to the provisions of this Lease. The first "Annual Anniversary Date"shall be one year <br /> after the Commencement Date provided above. There shall be two (2), Five (5) year renewal <br /> options, which is to be exercised by Lessee serving upon Lessor, no later than ninety(90)days <br /> prior to the end of the initial ten year term and the first five year renewal, a written notice of <br /> Lessee's intention to renew the Lease for an additional five year period. <br />