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<br />OPTION AND LEASE A trj~EEMENT
<br />THIS OPTION AND LEASE AGREEMENT ("Agreement") is made and entered into this
<br />3 0 ~ day of September, 2002 ("Effective Date"), by and between ROCK ISLAND LAND CO.
<br />LLC, a Colorado limited liability company, whose address is PO Box 1012, Breckenridge, Colorado
<br />80424 (hereinafter called "LESSOR"), and EVERIST MATERIALS, LLC, a South Dakota limited '.
<br />liability tympany, with a mailing address of I`O Box L 150, Silverthorne, CO 80498 (hereinafter
<br />called "LESSEE").
<br />WITNESSETH
<br />t. Grant: Subject to the terms, conditions and exercise of the Option described in
<br />Paragraph 2 hereof, the LESSOR, in consideration of the covenants and agteentents hereinafter .
<br />contained, has granted, demised, teased, and let and by3hese presents does grant; demise,lease, and' °
<br />°let exclusively unto LESSEE, its successors acid assigns,'the following described Teal property : ,_ ~;
<br />`situated, lying and being in the County of SUMMIT and State of Colorado (hereinafe called:the
<br />"Property"), as depicted and described in Exhibit "A"and "Exhibit "B", respectively, which exliibite
<br />are attached hereto and incorporated herein by reference; TOGETHER WPTff the exclusive right and
<br />privilege to mine, extract, store, stockprle, remove and sell all of the sand,=gtayci, and b~,proci~t~~- , ,. ~ -
<br />`;k- materials incident thereto, (hereinafter called the "Leased'Substances"), rnr on'o~r§under~the Leaaed'~ `~
<br />• ~*Premises; TOGETHER WITH the right to removaany~uid all topsoil~o; ~o~+erbdi~den obove4We ~;
<br />Leased Premises,the rightto useao muchofthe surfaceofthe LeasedPtemisea asmay be riecessat'y -
<br />or convenient in the construction of gravel plants, concrete and asphalt batch platrts; TOGETHER
<br />W ITH Uie right to construct roads, bridges, and storage water ponds togeflterwith the right to install,:
<br />store, and locate equipment of all kinds for arty more of said purposes, andthe_right to erect suitable ' ,
<br />buildings for offices, workmen, equipment and repair and storage and ;the transportation and
<br />shipment of the Leased Substances (all of the foregoing being collectively referred to herein as the.,: '~ -.
<br />- ~"Leased Premises"). ~ ~ ~ ~ ~ ~ ~ ; "~
<br />~, ~ ~.
<br />~f 2. ~a'on m Lease: ~~~` ` ~~~ ~`~ - ~~
<br />K« ~ .~_ 4 ~ ~ ._« ~~ `~. 3 ~'4'i1G ~.Y ~d~}~i`~Aa~"Al"~` Diu
<br />'d ~"f ' t ftheNINETYTHOUSAI3DI?ollars(S9001b)..* . ~-.~.~~,=
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<br />(a) Inconst oration orpaymen o ~ t ~ ~ t ~~,
<br />to LESSOR ("Option Payineni"~ ti-e receipt of whrch is hereby aekriow~ledged;'LESSOI;t'
<br />hereby grants to LESSEE the tight and option to lease the Leased Premses {"Option") upon` ;
<br />all terms and conditions set forth herein. ~ ` ~ `
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<br />(b) The temt ofUre Option ("Option Teem") shall extend from the Effective Date ~'
<br />of Utis Agreement through Decettiber 31,`2003. ~. ''. _ ~ ~ ~:,
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<br />3. C-ontineen~,y - Exerci$e of Option: _ ~ y~ ;'~"`
<br />- ~- ~ - r- ~~. ~a.~ > ~ ,
<br />.~ <-_ '~s as nr+~."~.s
<br />{a) During the Option Tetm; LESSEE shall be entitled to take possession of tlZe'~
<br />Leased Premises and commence rtunrng operations.'°As used m this~Agrecment the~erm
<br />"mining operations" includes the extraglion and rernova! of Leased Substances to .the extent °'~
<br />r.w.
<br />a ~ ~ s
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