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underground water storage reservoir by Central Colorado Water Conservancy <br /> District ("Central) pursuant to Agreement dated November 19, 2002, as <br /> amended, and pursuant to recorded easements and deeds related thereto (the <br /> "Central Agreement"). Central is entitled to continue its use during mining so <br /> long as there is no interference with mining operations. Tenant shall <br /> coordinate its operations with Central to maximize the water storage available <br /> to Central. After December 31, 2023, or as extended (the "Central Deadline") <br /> Central succeeds to Landlord's title to unmined Aggregate remaining on the <br /> Property unless otherwise agreed to by Central. If required by Central, <br /> Landlord shall be entitled to declare the Mining Phase complete due to the <br /> expiration of the Central Deadline. Tenant's obligation to pay royalties to <br /> Landlord for Aggregate mined before the Central Deadline shall continue <br /> notwithstanding the expiration of the Central Deadline. For so long as Central <br /> does not prevent Tenant from mining after the Central Deadline, Tenant's <br /> obligation to pay royalties to Landlord for Aggregate mined after the Central <br /> Deadline shall continue notwithstanding the expiration of the Central Deadline. <br /> Landlord agrees that it shall, or it shall cause its affiliate Lot Holding <br /> Investments, LLC, to pay the penalty amounts due to Central on December 23, <br /> 2023 in accordance w' the terms the Central Agreement on or before the <br /> Central Deadline to a condition for Central to extending the mining <br /> completion date set fo tions 5.1 and 10.1 of Central Agreement (as <br /> amended)("Mining Completi and shall be responsible for all cost <br /> related thereto. Landlord furt r, 21grees to make commercially reasonable <br /> efforts to negotiate a continued extension of the Mining Completion Date with <br /> Central to facilitate Tenant maximizing the extraction of aggregates from the <br /> Property and agrees it shall be responsible for all costs related thereto. In the <br /> event that Central has agreed to extend the Mining Completion Date and <br /> Landlord and Lot Holdings Investments, LLC have failed or refused to pay the <br /> penalty payments required for such extension, Tenant may, on five (5) business <br /> days' notice to the Landlord, negotiate directly with Central to pay such <br /> penalty payments on behalf of the Landlord and Lot Holdings Investments, LLC <br /> or enter into a new agreement with Central and the Landlord. The Tenant, at <br /> its sole option, may offset any such penalty payments paid by the Tenant to <br /> Central (and reasonable related expenses) against royalty payments due to the <br /> Landlord hereunder. <br /> 3. Approvals. Tenant shall be entitled to the benefit of all existing local <br /> and State permits and approvals necessary to conduct mining, mineral processing and <br /> reclamation operations on the Property and is entitled to obtain additional approvals <br /> desired by Tenant or amend existing approvals (collectively the "Approvals") as <br /> Tenant determines is necessary, except that Tenant is not authorized to encumber <br /> the Property or commit Landlord to incur expense or liability. Landlord and <br /> Landlord's principals and affiliates shall have no obligation to provide, obtain, <br /> guarantee or incur liability under any Approvals after the Effective Date. All costs, <br /> charges, penalties and requirements associated with the Approvals shall be paid and <br /> discharged by Tenant. When landowner consent or authorization is required by <br /> permitting authorities, Landlord shall cooperate in all reasonable ways with Tenant <br /> 2 <br />