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4136895 D8126/2015 03:46 PM <br /> Page 2 of 34 <br /> together with the right to develop,mine,extract,process,market and sell the Sand and Gravel <br /> from the Land,and conduct its ongoing Sand and Gravel mining business activities and <br /> reclamation obligations as contemplated by the existing mining permit issued by the Colorado <br /> Division of Reclamation Mining and Safety("DRMS")or its predecessor,the Colorado <br /> Department of Minerals and Geology("DMG"),as applicable,pertaining to the Land(such <br /> rights collectively referred to hereinafter as the"Mining Rights°'). The Mining Rights shall <br /> include the authority to amend the applicable DRMS/DMG mining permit and any other <br /> goverrunental approvals required for Grantor's mining of the Land to the extent necessary to <br /> allow the completion of such mining in a manner consistent with Grantor's agreements with <br /> Grantee,and shall also include the right to enter into agreements for the relocation of utilities and <br /> oil and gas infrastructure on the Land,consistent with Grantor's agreements with Grantee,to <br /> maximize the amount of water storage capacity created on the Land. This reservation of Sand <br /> and Gravel and Mining Rights shall be for a limited period of time,and shall automatically <br /> expire and terminate on the"Mining Rights Termination Date"applicable to the Land(or any <br /> applicable portion thereof)established in that certain Amended and Restated Purchase and Sale <br /> Agreement efFective as of February 9,2011 between Grantor and Grantee,as the same has been <br /> and may be further amended. Such expiration and termination of Grantor's Mining Rights may <br /> be evidenced of record by either_ (a)a recorded quit claim deed from Grantor to Grantee <br /> conveying the Mining Ruts and any remaining interest which Grantor may have in the Land(or <br /> any applicable portion thereof)pursuant to the Mining Rights; or(b)the recorded affidavit of <br /> Grantee wherein Grantee certifies that the applicable Mining Rights Termination Date has <br /> occurred and that Grantee is entitled to ownership and possession of the applicable Mining <br /> Rights,which affidavit shall specifica_ly refer to this Special Warranty Deed,as recorded, at <br /> which time,upon the recording of either the,quit claim deed or the affidavit of the Grantee as <br /> referenced above,the ownership of all Sand and Gravel rem is ring on the Land,or applicable <br /> portion thereof.and the Mining Rights shall automatically and immediately vest in Grantee,and <br /> be subi ect to the warranties set forth below_ <br /> TO HAVE AND TO HOLD the Property unto Grantee, and Grantee's successors and <br /> assigns forever, and Grantor does hereby bind Grantor, and Grantor's successors and assigns, to <br /> WARRANT and FOREVER DEFEND,all and singular the Property unto Grantee and Grantees <br /> successors and assigns,against every person whomsoever lawfully claiming or to claim the same <br /> or any part thereof,by,through or under Grantor,but not otherwise,and subject,however,to the <br /> matters set forth on Exhibit B attached hereto,as aforesaid. <br /> ThisDeed shall be governed by and construed in accordance with the laws of the State of <br /> Colorado. <br /> Remainderof Page Intentionally Left Blank <br /> -2- <br /> Everist S WD-8-2la-I5 <br /> C239889?i <br />