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<br />LEnsE AGRi:EMUar wt Tii <br />OPTION TO RUY MA TI7i]AL <br />TRIS AGREEMEIJT is made and cntc red into this 21st day of Auqust <br />19 86 by and between the Owner(s): Robert W. and Re tty L. Burton <br />whose mat ling address is: 19190 County Road 15 Del IJO rte, Colorado. <br />81132 <br />ttie Mortgagee: <br />and Southway Construction Co-, Inc., whose address is 117 White i'ine Drive, <br />Alamosa, Colorado, 81101, hereinafter referred to as the Company. <br />wITNE55 THAT: The Owner(s) for the consideration of Two and no/100 - - <br />--------°------------°------------------------------------- Dollars <br />($ Z.00 ~ ) and further agreements hereby leases to the Com- <br />pany an wi¢}mi+~~.'~.bption for the purpose of purchasing, processing, pro- <br />ducing, and remov2hg such material located on land described as follows: <br />N;N;SW'- of Section 19 Township LO North Range 6 East, <br />N.M.P.M., Rio Grande County, Colorado <br />In the event the Company desires to purchase any material located on the <br />above described land, the Owner(s) will be paid a royalty fee at the fol- <br />lowing rate: <br />Rip rap at $ 2.00 per ton <br />Aggregate products at $ ,Sp per ton <br />Aggregate products at $ •-675 per cubic yard <br />This Lease Agreement With Option To <br />day of this agreement and remain in <br />( 3 ) years, terminating on the <br />A.D „ 19 89 at 12:00 noon. <br />Buy Material shall commence on the <br />force for a term of three <br />21st day of August <br />It is further agreed that the Company has the option to renew this agree- <br />ment for another like term and conditions as stated within this agreement. <br />The Company shall have the right of ingress and egress to and from the <br />subject premises and to erect any temporary structures, such as screen- <br />ing, crushing, and/or asphalt or concrete plants; to stockpile material <br />in an area of sufficient size; and to employ any reasonable methods for <br />the removal of said material. Colorado Mined Land Reclamation rules and <br />regulations will apply. <br />This agreement and any State, County or Municipal permi is obtained by <br />the Company are the property of the Company for its use as it sees fit. <br />Page 1 of 3 <br />