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CC1 ~' OIII!I p ~\!IIIDI 1111.. ICL I1J-JY4'VL41 rUy 111 JV LV YV IYV VVL I JL EASE AGREEMEPiT WIT'S OPTION TO BUY MA 'I~tilJ A(i'KLL'ME`iT is made and entered into on this 14th day of July 19 9g by and be[weon the Owns (a) : Arthony J. Cesa!• Rc Doratly J. Cesar whore mailing eddras is 23000 St. CharlesRd., Pueblo, Colorado 81006 And Tony J. Belrremo R Sons, Ina. whose address is: 1541 Stockyard Rd. Pueblo, Colorado 81001 heralter referred to as the Company. WITNESS THAT: The Owner (s) for the consideration ofone ddler (SI.00) end lUrther tlgroemema hereby (eases to the Company an exclusive option for the ptlrpoee of purchasing. Rrocessing. producing, and rcmoting each material located on land described es follows: Per attached exhibit A The Company desires to purchase any materiel located on the above described land, it is understood by both partive that any edditianal myahy or like Tbas requited for any reason abavo and beyond the following rates will be born by the Ownor (s) of the property end not the Company. Royalty fees will bo paid at the following rate: The Company will allow for n cost of living increase based on the fallowing criterion. This increase shall be bued on the percentago of y~srly change in the Federally detcrtninod Produoora I4ice Index every fifth yml ale w1111F spp11a1 w rho cVnenr royalty [ere The Company ogees to make yearly an advanced royalty payment of Five Thousand Dollars, (SS,000.00) to be applied towards the futuri removal of materiels Itom this pit. The Company agrees to provide a mining plan condsleM with the tirturo development criteria of the owner mutually at:ceptable to bah parties. Thiv I.a~oe Ag•terntaM with ornion ro h4y m~teri-) ~h~ll eomm~nt~ orl t1N dry of thix agoaRlcnt and rotrlain in torso [or a tam of 15 years, with the option to renew far en additional ! 5 years tortninating on the 14th day of July , 2013 at 12:00 noon. The Company shall have the right of ingress and egress to and from the wbject premises end to erect any temporary structuroa, such ea screening, crushing, and /or asphalt or concrao plants: to stoc{.pile materiel In sn area of sutRcient slu; and to employ say reasonable methods Cor the removal of acid matarlel. The Company shall also have the right of ingress end egress for the purpoces of redamalion. The Company agrees to provide liability insurance and shell 6e rosponaible for n11 of its operations related to mining of the property. The Owner (s) will he held hnrtnloas far non oCthe Company end its employees or subeantraaon related to operations of the property. Payment for materials romoved from the property will be made to the Owner (e) within ten (10) days after payment is roceivod by the Company. N-1