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STATE OF COLORADO
<br /> * 9 STATE BOARD OF LAND COMMISSIONERS
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<br /> ''..4,,1876 41' SAND & GRAVEL LEASE NO. 112927
<br /> This Sand and Gravel Lease(the "Lease"), is made in duplicate and entered into this 8th day of
<br /> January, 2020, by and between the State of Colorado, acting by and through the State Board Of Land
<br /> Commissioners, located at 1127 Sherman Street, Suite 300, Denver, CO 80203 ("Lessor"), and Fremont Paving
<br /> Et Redi-Mix, Inc., whose address is P.O. Box 841, Canon City, CO 81215, ("Lessee"):
<br /> WITNESSETH: Lessor, for and in consideration of the sum of first year's rent in the amount of two
<br /> thousand eight hundred and eighty and no/100 Dollars ($2,880.00), and in further consideration of Lessee's
<br /> agreement to pay Three and no/100 Dollars ($3.00) per acre annually as rental in advance of the anniversary
<br /> date of this lease so long as said lease shall remain in effect; and in further consideration of the terms,
<br /> conditions and agreements herein and of the payment of royalties reserved herein, to be kept and performed
<br /> by Lessee, its successors and assigns, does hereby lease to Lessee the right and privilege of exploring and
<br /> prospecting for, developing, and mining of and taking of Sand a Gravel minerals from the lands situated in
<br /> the County of Lincoln, State of Colorado, more particularly described in Exhibit A attached hereto and made
<br /> apart hereof ("Leased Premises").
<br /> The Leased Premises together with the right to use as much of the surface as may be reasonably required,
<br /> including the right to reasonable ingress and egress; the right to make excavations, stockpiles, and other
<br /> improvements as may be reasonably necessary in the mining and removal of said minerals; subject, however, to
<br /> all existing easements and rights-of-way of third parties, as detailed on Exhibit B to this agreement, and the
<br /> rights of surface lessees and surface owners, and further subject to the terms, conditions and agreements set
<br /> out in this Lease. The above-mentioned rights may be exercised in connection with mining on other or adjacent
<br /> lands only when mining on such lands is carried on in conjunction with the actual mining on the Leased Premises.
<br /> The benefits, terms, and obligations of this Lease shall extend to and be binding upon the heirs, executors,
<br /> administrators, successors, or assigns of the 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, including
<br /> the right to explore and prospect said premises, which use and leasing of said premises shall be
<br /> for purposes other than and not inconsistent with the rights and privileges herein specifically
<br /> 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 thereof
<br /> for the purpose of inspecting said premises, and the books of accounts and records of mineral
<br /> workings therein, and of ascertaining whether or not said Lessee and those holding thereunder
<br /> by and from it, are carrying out the terms, covenants and agreements in this tease contained. It
<br /> is agreed that during all proper hours and at all times during the continuance of this lease, Lessor
<br /> or Lessor's duly authorized agent, is authorized to check assays and scales as to their accuracy,
<br /> to go through or on any part or all of the Leased Premises to examine, inspect, survey and take
<br /> measurements of the same and to take samples of any kind and to examine and make extracts
<br /> from or copies of all books and weight sheets and records which show in any way the ore output,
<br /> ore values, payments and royalties from and of the Leased Premises. All conveniences necessary
<br /> for such inspection, survey, or examination shall be furnished to Lessor. Lessor may require
<br /> Lessee to provide all instruments and documents of any kind and nature whatever which affect
<br /> Lessor's interests.
<br /> GL 112927 Revised DOL 11/2018
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