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<br /> Rev. 12/97
<br /> State of Colorado
<br /> Department of-Natural Resources
<br /> STATE BOARD OF LAND COMMISSIONERS
<br /> 1127 Sherman Street,#300
<br /> Denver,Colorado 80203
<br /> SAND&GRAVEL LEASE NO. GL 3462
<br /> This Sand and Gravel Lease (the "Lease"), is made in duplicate and entered into this 6th day of January. 2012, by
<br /> and between the-State of Colorado, acting'through its'STATE.136AAD OF rUAND'CON,4MISSIONERS,hereinafter referred
<br /> to as Lessor, and Fremont Pavinit ah8-Redi-Mix Ina:=P.0.'1§•oxt<1-720:'Caiiori�Ciiy: CO_ 81215:hereinafter referred to as
<br /> Lessee: _
<br /> VO-E VESSETH: Lessor;for land in consideration:ofthe siim`of three•thousand*-four hundred sixty-four and no/100
<br /> Dollars ($3.464.00) receipt of which is hereby acknowledged as payment of the fling fee:in the amount of$2o.0a, first
<br /> year's rent in the amoWif of$3.444:00,and a Bonus in•#he amount of$=0--,and in further consideration of Lessee's agreement
<br /> to pay Three and no/100 Dollars($ 3.00)per acre or-fractiorilheieofiannually a' rental in advance'of the anniversary date of
<br /> this lease so'long as said-lease`shall-refnairi!irr--dffect arid ift fuf6er'consideratitin ofythe terms, conditions and•agreements
<br /> herein and of the payment of royalties reserved herein,to be keptand,perfonmed 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 and taking of
<br /> sand and'gravei minerals from the Iands-,herein described,situated-in-the County of�Pueblb;State of Colorado,to wit:
<br /> ACRES SUBDIVISION SEC-TNVP-RGE PATENTS
<br /> ON 235.41- Lots 3&4,E2SW,.W2SE 19 1-2 IS-62W None
<br /> # 552.04 Lots1-4, W2NE;t2W2,SE ` 30==21S-62NV None
<br /> 360.00 SNVNW,S2 25-21 S-63 W None
<br /> FUND:School
<br /> containing 1.147.45 acres, more or less, (the "•Leased Premises') .together with the right to use as much of the
<br /> surface:as may be reasonably 'required, including the right to•reasonable ingress and egress;.the right-to make
<br /> excavations, stockpiles, and other improvements as may be reasonably necessary in the mining and removal of said
<br /> minerals; subject, however, to all existing easements and:rigghts-of-way of third.parties,.as detailed on Exhibit A to
<br /> this agreement,and the rights of surface lessees and surfade owners;-and.further subject to the terns,conditions and
<br /> agreements set out in this Lease. The above-mentioned rights maybe exercised.in connection with mining on other
<br /> or adjacent lands only when mining on such lands is tamed on in conjunction with the actual mining on the Leased
<br /> Premises. The benefits,terms, and obligations-of-tlus:-Lease shall extend to and be binding 7upon 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 the right to
<br /> explore and prospect said premises,which use and-leasing of said premises shall be for purposes other than
<br /> and not inconsistent with the rights and privileges herein specifically grai:ted.
<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 Iife of this lease to go upon said premises and every part thereof for the
<br /> purpose of inspecting said premises, and the books of accounts and records of mineral workings therein,and
<br /> of ascertaining whether or not said Lessee and those holdinD thereunder by and from it, are carrying out the
<br /> terms,covenants and agreements in this lease contained.
<br /> E. The right at any time to grant a right-of-way upon, over or across all or any part of said premises for any
<br /> ditch, ;reservoir, railroad, communication system,:electric powerline;-or pipeline, schoolhouse or other
<br /> lawful-purpose;:but that such grants shall be subject to.-the right's cf Lessee.
<br /> F. The right at any time to place the Leased Premises into the Stewardship'Trust as set forth in Section
<br /> 10(1)(h)(M of Article IX,of the State Constitution. Said placement into the Stewardship Trust shall be for
<br /> reasons not inconsistent with+the rights arid,privileges,of Lesmee.
<br /> TO HAVE AND TO HOLD the above described,Leased Premises unto Lessee; its heirs, successors, assigns, or
<br /> legal representatives for the primary d until Twelve O'clock noon on the The
<br /> Lease may continue in effect for an � he 6thFday of January,2032 (the "Secondary Term")as long as
<br /> Wosand and gravel are being produced in paying quantities from said-Leased Premises and-subject to.the terns of paragraph 4
<br /> f this Lease, and the royalties and rentals provided for herein are being paid, subject to the following terms,conditions and
<br /> agreements,to wit:
<br />
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