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?- 1-~.; IC:42~N{EItO CJf st., nc,
<br />RoYALr~:,cR>L~ax~NT
<br />;&7~ :,a 771E
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<br />Skis Royalty Apj~errawt ("Ayreurrut') is uaulc clTativc as of ~lylA ~ ~}(JN~z0o2 by ana
<br />between b'etcher 1Lwc6 Land, LLY, sad Uhu'las ti. Vale and tiobbm Jrw Vulq owners of Hassle.
<br />Haven Ranch, ("Lesvon"), sad SLAM CONSTRUCTION, INC. ("E1run°). The potdcs ngrcc as
<br />follows
<br />LIiGAI.lll:9S';HIYl'IUDI. '1'hv legal desc[iption for the khcatieos, owned iu causbwatiun by ulnrvr
<br />Lrarinv, iy,
<br />Nl,'23W1/4SW1/2ondNW1/4SW1/45errion28Towushipi NorthRaape8J4Jest
<br />TIIl2M. The a~eemeat term will bcp~u pa afay 7, ~00~ and will rrrmimnc oo April 30, 2012.
<br />ROYALTY P~~~, 1:.Iaro shall pay to Lessors as follows, wide om lralf'm Percher Ranch
<br />Land, LLP and one half m the ow'nen of Hassle Haves Ranch (Charles W. Vale sad Robbie Jean
<br />Vale).
<br />1) Royalty of 51.00 per toe for 1;<trvrl tninr4 and rlnnuved fiurn properly
<br />2) Royalty of 50.30 per cubic yard for fill dutranovcA tiom the properly
<br />3) Aaaval lease paytttart of five hundred dollars ($500.00), due oa May 1" of each lease year.
<br />Royalty shall be paid oa aU material removed fiom the premises. 17am shall weigh all material or
<br />use a 1o8r1 cowl factor as nuuetial is removed from the ptvarises and keep good and accurate
<br />[ecorda thereof: harm shall also providn Lwsun widr a wsitlou sWlcnacas as lu all malmials
<br />xcmuvrd bum Ihr promises in the ptg:rdmg mwrth wsd make payme+u to Ose I.eesrrc5 id' dre
<br />royalty due by the 20s` day ofeach anomh farmnturials mmoved the pl ceding mamh.
<br />ARer each S years ofthis agreem®t, royattY rates may be madificd sg+oa m[auat agfcemeot by ail
<br />patties. ,
<br />USE t)t IRtF1~IISTS. Lessors hereby gmm unto Elam the azcluaivc right to cmtx upon the
<br />premises described above and to extract, process, smckpile sad rnaove [heteSom sand, ttrave4 fill
<br />dirt, and topsoil, Any equipment Flarn darts aocasary to accomplish t}rc foregoing, including.
<br />but without limitatio4 the right m operate a Lot mix asphalt plant, grave] crusher, and eoacrex
<br />plate, is allowed id acwi'dauve with the terms set fonh berate Elam shall i>c eutitkd m score i'tags
<br />ul' peixwul property within the premises owned by Lessors daring ~thv term of thin agrovuumt
<br />Lessors sbal[ not be IiabIc for Ioxs oi; o[ Jamuge In, such s4,ral items ~
<br />EQ$SIISSiON, Elam shall be errdtlcd to possession oa the Etter day of the term of this Agreement,
<br />a+ul shall yield possession to Carrots on the last daY of the tmu of this agretment, furless
<br />otlmrwise agreed by both patties in writing, ARer the last day of the team ofthia At$eement. Elam
<br />yhxll be enlidrd ar a+xras for Preuvises for reclaatatiw vpaations Bad IDairdaEnu activities vatil
<br />such time as the reclamaliun efrma; we aceeptedby dse appropriate agencies.
<br />PL12h~„fff5. PJam agrees to maimafn with Rotrtt Cotnny, tldurx+by u ~er mil LL: extnu;l lnwrl Item
<br />the leased premises, Elam also ogeees m maimnia with the Staff of Colorado, T)ivisioa of
<br />aTiIICrala and Geology grave] 'amino permits aclatir>,o thucto, tatd mty other relevnttt petttsita ftlr
<br />auy other opemtioas by Elam on the premises which may req[dre a permit. Tf mry rctryirtxl p:•rtoira
<br />aro donitai or become invalid thm this Agrecmeat shall termimre and be of m fitetber Force. and
<br />effect lilam shag be responsible £m obtaining nrut p;tying for all nocnasary permits m extract
<br />materials and to operasc grnvcl £aeiiiti`eJs, ri.~e~.~~' annml fees, tmnslffi tans, and ptmnrts Item l!m VS
<br />Guvctuwetrt, the State of Colorado. end 1lVllll COllldy. IGi9eT`J 7IY,rCC Irf a4vlal Irr Wlnrplellu~ UI
<br />rxnnplytitg with say pemdt applicedons, eoadirions oc teaemtls by pm~idirtg nxrucyuy
<br />doaumem:nion That may be required by the various goyemment agencies.
<br />WATER
<br />Lessors hereby giaui W blow dle ritbt m ervact water from or discharge water to the Ekhart hitch
<br />under sotto potmit in srruh umuw+Ls as may be ttacesssty far Gam's aperadam on the property.
<br />Elam op~ees [o caordiante stmh wtixr ulilivaliun with llre irrigation uses and hay harvzstiug of the
<br />T.essnrx.
<br />MAINTENANf'F.
<br />Royalty Agmemerrt
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