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LICENSE AND ROYALTY AGREEMENT <br /> This License and Royalty Agreement (this -'Aereement'). is made and entered into to be effective as of the <br /> EIlecU►c Date (defined bclo►►) b� and het►►een Rockbottom. L.L.C.. a Colorado limited liabtlit► company. ►►host; <br /> address is ji; Ernest Ave., %Vestcliffe. Colorado K 1252 (as"L.iccnsee'*) and Wild Burro Investments. LLC.', a Colorado <br /> limited liabiltt► compam ►►hose address is 555 Ernest Ave,11'estchffc. CO 912S2 (as"Licensor') <br /> F REMISES: <br /> NVIIERFAS, Licensor is the twiner of a certain tract of real propert-, located at •1830 County Road 123, <br /> Penrose, CO 81240. and <br /> W14ERFAS. Licensor desires to license to Licensee. and Licenwe desires to license from Liccnsor, a portion of <br /> propert} as more particularly described (and depicted) on Exhibit "A" attached hereto (such area depicted and described <br /> on Exhibit "A", the "Licensed Premises"). <br /> AGREEMENT: <br /> NOW TIIEREFORE. in consideration of' the mutual covenants and promises hercinafler set forth, the parties <br /> hereto agree as follow s <br /> i Agreement is null and void if Fremont County or State does not issue permit. <br /> 2. Licensed Premises. Licensor hereb► licenses to iicensee on an exclusive basis the Licensed Premises <br /> 3 Term The term of this Agreement shall be for a period of t►►cnt} t►►o(22)years and shall terni Mate an June Ist. <br /> 2042 (the "'Perm") unless terminated earlier b► reason of Licensee's thim_ (30)da% ad►ance written notice to Liccnsor, or <br /> bt reason of Licensee's default hereunder. <br /> 4 Least; Termination if Licensee terminates this lease early (Prior to all material emraction). reclamation ►till start <br /> immediately. If Liccnsor terminates this lease carp (Prior to all material extraction!. reclamation will start within li <br /> months and Licensor"ill he liable for all survey costs in connection to this Lease and lnefore and after fencing costs. <br /> 5 1,ice insC Fee <br /> 5.1 Licensee shall pa► to Licensor a royalt\ as tollo►►s. <br /> T'0 per ton l'or;ill materials removed, <br /> Starting in 2025 and each year thereallcr the ro►alt► per ton ►►ill increase by $,04 per ton on all materials <br /> except crusher fines and the ro►all► ►►ill increase by 5.02 per ton on crusher tines. <br /> ti 2 All Royaliics shall be paid ►►ithin + months of the crushing. «hether or not the materials haw sold. Payment <br /> may or may not be paid all at once <br /> 6. Reclamation. Licensee shall be responsible for any reclamation bond and costs associated with tic Property per <br /> the state and county guidelines as set forth in the pit expansion. Final reclamation shall be completed and submitted to tic <br /> state for release within I ►car of final matcnal removal. <br /> 7_ Fencing. Licensee shall tv responsible for mo►ing the fence. both before mining is started on the premises and <br /> when mining is complete Licensor ►►ill be responsible for maintaining fence. Fencing will be 4 strand smooth wire <br /> «/steel angle iron state corners and T posts. <br /> 8. Certifications; insurance. Licensee shall bt', responsible f'or the procuring of proper insurance and �'1SHA <br /> cerii(ications as ma► he required of Licensee in connection ►►nth l.iccnsec s rights described this Agreement. Licensee ►►ill <br /> providc Licensor►►ith a certificate of insurance listing Liccnsor as additional insured on their liahilio, polie4 <br />