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MINERAL LEASE ADN OPTION AGREEMENT <br /> VELARDE PROPERTIES <br /> THIS DOCUMENT SHALL SERVE AS AN AGREEMENT BETWEEN DG HUSKIN <br /> CONSTRUCTION CO.(HERE AFTER REFERRED AS THE LESSEE)AND FRANK <br /> VELARDE(REFERRED AS THE OWNER).FOR TILE MINERAL LEASE AT 124 <br /> COUNTY RD 613,WALSENBURG.CO.81089 <br /> WHEREAS ON TIES DAY OF �F (1 12001.DG HUSKIN <br /> CONSTRUCTION CO.AND FRANK VELARDE ENTERED INTO AN <br /> AGREEMENT UNDER THE FOLLOWING TERMS AND CONDITIONS. <br /> DG HUSKIN CONSTRUCTION CO.SHALL PAY 'ER TON(DRY WEIGHT) <br /> AS ROYALTY FOR MINERAL AGGREGATES EXTRACTED FROM THE <br /> VELARDI PROPERTIES. COMMENCING ON JANUARY 5,2001,DG HUSKIN <br /> CONSTRUCTION CO.SHALL PREPAY A SUM OF: PER YEAR FOR A <br /> PERIOD OF 10 YEARS FOR THE EXCLUSIVE RIGHT TO MINE L31—ACRES <br /> (PLUS OR MINUS)AS DESCRIBED TN EXHIBIT A.AFTER A PERIOD OF TEN <br /> YEARS DG HUSKIN CONST.CO.MAY AT ITS OPTION AND UNDER THE SAME <br /> CONDITIONS,EXTEND THE LEASE AGREEMENT FOR AN ADDITIONAL TERM <br /> OF 10 YEARS. <br /> IN RETURN DG 14USKIN CONSTRUCTION CO.SHALL OBTAIN ALL <br /> NECESSARY PERMITS,AND SHALL BE RESPONSIBLE FOR ALL <br /> RECLAMATION AS DICTATED BY THE LAWS OF THE STATE OF COLORADO. <br /> DG HUSKIN CONSTRUCTION CO.SHALL HAVE EGRESS AND ENGRESS TO <br /> THE ABOVE REFERENCED PROPERTY AT ALL TIME WITI IOUT PREJUDICE. <br /> ALL MATERIALS PRODUCED SHALL REMAIN THE PROPERTY OF DG HUSKIN <br /> CONSTRUCTION CO.FOR THE DURATION OF THE LEASE. s <br /> o <br /> THE PREPAID LEASE AMOUNT Or PER YEAR SHALL BE ; <br /> m <br /> DEDUCTED FROM THE ROYALTY T'HYM> NI'S AS MINING COMMENCES 9 <br /> THRUOUT THE PERIOD OF THE LEASE. <br /> a <br /> d <br /> DG HUSKIN CONSTRUCTION CO.MAY TERMINATE THIS AGREEMENT AT E <br /> ANY TIME WITH 30 DAYS WRITTEN NOTICE. <br /> a <br /> THE TERMS AND CONDITIONS OF THIS DOCUMENT ARE HEREBY o <br /> MUTUALLY AGREED UPON BY: <br /> �i'7u CC1 l�u z�� �/ �� N/ i7✓. / ' - <br /> OWNER �C;HUSKIN CONSTRUCTION CO. <br /> SIGN BEFORE ON 72� 2001 BY THE ABOVE IR L . a <br /> i <br /> v'.• P w <br /> NOTARY MY COMMISSION EXPI = / I <br /> 5 <br /> V;Z U ¢ > <br /> �O <br /> w <br /> w <br />