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ACA L- 01 <br />LICE)VSE AGREEMENT <br />THIS LICENSE AGREEMENT, m~de effective as of the ~y * day of May, IyYts, behveen <br />COTTONWOOD LAND COi11PANY, a Delaware corporation, ("Licensee"), and ROGER and JEAN <br />OLSON ("Licensor"), <br />WHEREAS, Licensee desires to secure from Licensor the right to enter upon certain lands of <br />Licensor in Routt County, Colorado, for purposes of conducting environmental monitoring, data collection <br />and other related data gathering obligations required of Licensee in the conduct of its business; and <br />WHEREAS, Licensor is willing to grant Licensee said right in return for certain consideration and <br />certain conditions. <br />NOW, THEREFORE, in consideration of the agreements and undertakings of the parties, as <br />hereinafter set forth, it is agreed as follows: <br />Section 1. Grant of License. <br />To the extent of its interest in the following described property, Licensor hereby grants to Licensee, <br />its agents, employees and independent contractors a license, right, privilege and permission to ingress and <br />egress Licensor's property as described below for Licensee, its employees, agents and independent <br />contractors to conduct environmental monitoring studies, consisting of the installation of one alluvial <br />water monitoring well, [he performance of all required and desirable work relating to such environmental <br />monitoring, data collection and other related data gathering obligations required of Licensee and to conduct <br />from time to time periodic monitoring of such well, including maintaining, repairing, replacing and <br />removing such well, in the conduct of Licensee's business over certain tracts of real property ("Property"), <br />described as follows: <br />Townshio 5 North. Rance 88 West. 6th P.M.. Routt County. Colorado <br />Section 9: W I/2 SEl/4 and SEl/4 SW I/4 lying east of RCRD #53 <br />Section 2. Term. <br />This License shall be in effect for a one (1) year term commencing with the date first written above <br />("Primary Term") upon CLC paying to Licensor (5300.00) on the date of execution of this License <br />Agreement., with CLC having the option to extend the Primary Term of this License Agreement on a year- <br />to-year basis for the sole purpose of conducting additional periodic environmental monitoring activities as <br />set forth above, including the right of ingress and egress for such activities, for so long as mine related <br />activities are being conducted in the vicinity of the Property, by CLC paying to Licensor on or before the <br />expiration of the Primary Term, and thereafter on each anniversary date of this License Agreement, an <br />annual rental of One Hundred Dollars (5100.00) for such extension. <br />Section 3. Scope of license. <br />This License is limited to the use of said Property for the purposes described herein only. No <br />license is hereby given by Licensor to Licensee to conduct any business or to do any other thing on said <br />Property. •Licensee shall not construct any structures, whether temporary or permanent, on said lands <br />without Licensors prior written consent. [n the event Licensee shall construct any structures on the <br />Property, it shall have sixty (60) days to remove the same at the termination of this License Agreement. If <br />Licensee fails to remove said structures as aforesaid, Licensor shall have the right, but not [he obligation, to <br />1 <br />