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PIT LEASE Al D OPTION AGREEMENT PINO PIT THIS DOCUMENT SHALL SERVE AS AN AGREEMENT BETWEEN DG HUSKIN CONSTRUCTION CO. (HERE AFTER REFERRED AS THE LESSEE)AND EDWARD PINO (REFERRED AS THE OWNER). WHEREAS ON THIS _DAY OF e- Y ,1999. DG HUSKIN CONSTRUCTION CO. AND EDWARD PINO ENTERED INTO AN AGREEMENT UNDER THE FOLLOWING TERMS AND CONDITIONS. DG HUSKIN CONSTRUCTION CO. SHALL PAY_ _ ?R TON(DRY WEIGHT) AS ROYALTY FOR MATERIAL AGGREGATES EXTRACTED FROM THE PINO PIT. IN ADDITION COMMENCING ON DECEMBER 27, l 999, DG HUSKIN CONSTRUCTION CO. SHALL PAY A SUM OF —PER YEAR FOR A PERIOD OF 10 YEARS FOR THE EXCLUSIVE RIGHT TO MINE 100 ACRES (PLUS OR MINUS) AS DESCRIBED IN EXHIBIT A. AFTER A PERIOD OF TEN YEARS DG HUSKIN CONST. CO. MAY AT ITS OPTION EXTEND THIS LEASE AGREEMENT FOR AN ADDITIONAL TERM OF 10 YEARS. IN RETURN DG HUSKIN CONSTRUCTION CO. SHALL OBTAIN ALL NECESSARY PERMITS, AND SHALL BE RESPONSIBLE FOR ALL RECLAMATION AS DICTATED BY THE LAWS OF THE STATE OF COLORADO. AND DG HUSKIN CONSTRUCTION CO. SHALL HAVE EGRESS AND ENGRESS TO THE ABOVE REFERENCED PROPERTY AT ALL TIME WITHOUT PREJUDICE. ALL MATERIALS PRODUCED SHALL REMAIN THE PROPERTY OF DG HUSKIN CONSTRUCTION CO. FOR THE DURATION OF THE LEASE. THE PREPAID LEASE AMOUNT OF--,— PER YEAR SHALL BE DEDUCTED FROM THE ROYALTY PAYMENTS AS MINING COMMENCES THRUOUT THE PERIOD OF THE LEASE. DG HUSKIN CONSTRUCTION CO. MAY TERMINATE THIS AGREEMENT AT ANY TIME WITH 30 DAYS WRITTEN NOTICE. THE TERMS AND CONDITIONS OF THIS DOCUMENT ARE HEREBY MUTUALLY AGREED UPON BY: ..14 OWNER D ift CO TI STRUCON C . (7N BEFORE ON 1999 BY THE ABOVE INDIVIDIUALS. , t A i A i A Orf NOTARY MY COMMISSION EXPIRES ON (� Co Cou cl P, I (,( S +0cJSP.0 Lt ri�, Co . 'Vf L4) [9.14][REAL ESTATE 1b-PINO PIT-Lease Right Transfer.pdf][Page 3 of 51