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4007567 Pages.( of 4 <br /> 04/07/2014 04:34 PM R Fee:$26.00 <br /> Steve Moreno, Clerk and Recorder, Weld County: CO <br /> mill 111FI 1111'16'100%4+M'iN,VAX,AM!,IkA 11111 <br /> = FIRST AMENDMENT <br /> TO <br /> SAND AND GRAVEL LEASE <br /> This First Amendment to Sand and Gravel Lease ("Amendment") is entered into effective <br /> September 16d', 2013 ("Effective Date"} and amends the Sand and Gravel Lease ("Lease's for the <br /> Carr/Tucker Pit in Weld County, Colorado dated January 1,2011 between JRT Limited Partnership and <br /> Terry Grazing Association, P.O. Box 3170, Cheyenne, WY 82003, ("Lessor) and Connell Resources, <br /> Inc., a Colorado Corporation, 7785 Highland Meadows Parkway Suite 100, Fort Collins, CO 80528 <br /> ("Lessee'l. <br /> l. Term of Lease. <br /> In Section 2,the term of the Lease is amended to continue to January 1,2031. <br /> 2. Royalty Amounts. <br /> Section 3.1,is amended by adding the following language at the end: The royalty for all sand <br /> and gravel Material shall be changed beginning on the following dates to the following amounts: <br /> on January 1,2016: $1.03 per ton; <br /> on January 1,2021,$1.06 per ton; <br /> on January 1,2026:$1.09 per ton; <br /> on January 1,2031:$1.12 per ton. <br /> 3. Minimum Tonnage Requirements. <br /> Section 3.3 of the Lease is amended so that: the minimum tonnage per year for each calendar year <br /> is reduced to 15,000 tons and Sections 3.3.1 and 3.3.2 are hereby deleted. <br /> 4. Permit Ownership and Management. <br /> Section 4 is hereby deleted and replaced with the following language: Lessee currently holds <br /> permits for a gravel mining operation on the Property. Lessee will be responsible for complying with <br /> all such permits and for paying ongoing premiums for the reclamation bond. <br /> S. Real Property Taxes. <br /> Section 7.6 is amended by adding the following language at the end: except that the Lessee shall <br /> be responsible for and shall pay all real estate taxes assessed for earth or stone products produced from <br /> the Property during the term of the Lease. <br /> 6. DPW Game Area. <br /> New Section 7.11,"DPW Game Area.",is hereby added with the following language: <br /> The Lessor shall be responsible for renegotiating Lessor's current agreement with the Colorado <br /> Department of Parks and Wildlife("DPW")so that Section 21 of Lessor's Property is no longer <br /> included in the public access agreement with DPW. Lessor agrees to complete this revision to the DPW <br />