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LEASE AGREEMENT <br /> THIS LEASE AGREEMENT dated , 2010, is between <br /> Ben C. Franciscotti, Ted Franciscotti, Cindy Franciscotti (jointly referred to as "Lessor"), <br /> and APC Southern Construction Co., LLC, a Colorado limited liability company, with <br /> principal offices at 14802 West 44fh Avenue, Golden, CO 80403, hereinafter referred to <br /> as "Lessee". <br /> In consideration of the terms, covenants and conditions contained herein, it is <br /> agreed as follows: <br /> 1. Grant. Lessor hereby lets to Lessee the following described property <br /> (approximately 840 acres located in Section 32 and Section 33, Township 26 South, <br /> Range 67 West in Huerfano County, Colorado; hereto referred to as "The Property") for <br /> the purpose of mining, removing, storing, treating, processing, and marketing therefrom <br /> all sand, gravel, rock, clay and topsoil ("Material"). <br /> 2. Term. This Lease shall be in effect for a period of ten (10) years, <br /> commencing one Z.:�g , and ending on /Q� ci Lessee shall <br /> have an option to renew this Lease for a second ten year term, which option may be <br /> exercised by Lessee providing to Lessor written notice of exercise of option during the <br /> last year of the ten year primary term of this Lease. The terms and conditions of this <br /> second term shall be negotiated and agreed to, in writing, during the last year of the ten <br /> year primary term of this Lease. <br /> 3. Annual Fee. Lessee shall pay to Lessor , as an annual fee upon <br /> the execution of this Lease Agreement. Lessee shall also pay Lessor such amount on <br /> or before each anniversary date of this Lease. <br /> [10.21[REAL ESTATE 1(b)-Franciscotti Pit.pdfl[Page 1 of 71 <br />