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RECEIVED <br /> MAR 1 8 2024 <br /> ColoradoM Division of Reclamation, <br /> SAND AND GRAVEL LEASE AGREEMENT <br /> Safety <br /> THIS SAND AND GRAVEL LEASE AGREEMENT (this "Lease") is entered as of the <br /> date described in Paragraph 23 (the "Effective Date"), by and between Flintstone, LLC <br /> ("Lessor"), whose mailing address is 1691 Snow Eagle Court, Loma, Colorado 81524, and IHC <br /> Scott, Inc., a Colorado corporation ("Lessee"), whose mailing address is 9200 E. Mineral Ave., <br /> Suite 400, Centennial, Colorado 80112 (collectively "the Parties"). <br /> RECITALS <br /> A. Lessor owns that certain real property located in Rio Blanco County, Colorado, <br /> described on Exhibit A hereto, located at 41009 County Road 5, Meeker, Colorado 81641 (the <br /> "Leased Premises"). <br /> B. Lessee desires to lease the Leased Premises from Lessor for the purpose of <br /> exploring for, developing, extracting, washing, sorting and related processing, stockpiling, <br /> removing, using, marketing and selling Materials therefrom(the"Approved Use"). For purposes <br /> of this Lease "Aggregate" shall mean all sand, gravel, stone, rock, and all other valuable solid <br /> materials. "Materials" shall mean Aggregate as well as topsoil, overburden, fines, clay and <br /> similar earthen materials excavated from the Leased Premises. Materials specifically excludes <br /> all hydrocarbons. <br /> C. Lessor is willing to lease the Leased Premises to Lessee for the Approved Use, <br /> subject to the terms and conditions set forth herein. <br /> AGREEMENT <br /> NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br /> which are hereby acknowledged, and in order to achieve the mutual objectives of the parties, the <br /> parties mutually agree to the following terms and conditions: <br /> 1. Subject and Purpose. Lessor does hereby lease and demise the Leased Premises <br /> exclusively unto Lessee, its successors and assigns, for the Approved Use. Lessee shall not <br /> commit waste on the Leased Premises or engage in any activity on the Leased Premises or in <br /> connection with the Approved Use that is illegal or otherwise violates any municipal, state or <br /> federal laws, health codes,or regulations applicable to the Approved Use. <br /> 2. Term. <br /> (a) Initial Term. The initial term of this Lease shall commence on the <br /> Effective Date and continue for a period of six (6) years, ending on the last day of the 72nd full <br /> month of the initial term(the"Initial Term"). <br /> (b) Renewal Periods. Unless Lessee notifies Lessor in writing of its intention <br /> not to renew the term of this Lease at least ninety (90) days prior to the expiration of the Initial <br /> Term or applicable Renewal Period, the term of this Lease shall automatically renew for <br /> Page 1 of IO <br /> Flintstone-Scott Mining Lease <br />