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EXHIBIT N1
<br /> cow STATE OF COLORADO
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<br /> STATE BOARD OF LAND COMMISSIONERS
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<br /> ~�1876 SAND & GRAVEL LEASE NO. GL 113457
<br /> This Sand and Gravel Lease (the "Lease"), is made in duplicate and entered into this 20th day of
<br /> October, 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 PHILLIPS
<br /> COUNTY BOARD OF COUNTY COMMISSIONERS, whose address is PHILLIPS COUNTY BOARD OF COUNTY
<br /> COMMISSIONERS, 221 SOUTH INTEROCEAN AVE, HOLYOKE CO 80734, ("Lessee"):
<br /> WITNESSETH: Lessor, for and in consideration of the sum of Five hundred and no/100 Dollars
<br /> ( 500.00), receipt of which is hereby acknowledged as payment of the filing fee in the amount of $500.00, first
<br /> year's rent in the amount of One hundred twenty dollars and no/100 Dollars ( 120.00), and in further
<br /> consideration of Lessee's agreement to pay Three and no/100 Dollars ($3.00) per acre annually as rental in
<br /> advance of the anniversary date of this lease so long as said lease shall remain in effect; and in further
<br /> consideration of the terms, conditions and agreements herein and of the payment of royalties reserved herein,
<br /> to be kept and performed by Lessee, its successors and assigns, does hereby lease to Lessee the right and
<br /> privilege of exploring and prospecting for, developing, and mining of and taking of Sand It Gravel minerals
<br /> from the lands situated in the County of Phillips, State of Colorado, more particularly described in Exhibit A
<br /> 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, and
<br /> other improvements as may be reasonably necessary in the mining and removal of said minerals; subject,
<br /> however, to all existing easements and rights-of-way of third parties, as detailed on Exhibit B to this
<br /> agreement, and the rights of surface lessees and surface owners, and further subject to the terms, conditions
<br /> and agreements set out in this Lease. The above-mentioned rights may be exercised in connection with mining
<br /> on other or adjacent lands only when mining on such lands is carried on in conjunction with the actual mining
<br /> on the Leased Premises. The benefits, terms, and obligations of this Lease shall extend to and be binding upon
<br /> the heirs, executors, 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,
<br /> including the right to explore and prospect said premises, which use and leasing of said
<br /> premises shall 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 lease
<br /> contained. It is agreed that during all proper hours and at all times during the continuance of
<br /> this lease, Lessor or Lessors duly authorized agent, is authorized to check assays and scales as
<br /> to their accuracy, to go through or on any part or all of the Leased Premises to examine,
<br /> inspect, survey and take measurements of the same and to take samples of any kind and to
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