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-' <br />L E A S E <br />THIS LEASE made this ~ day of , 1986, by <br />and between PHILIP D. VONDY, ELWYN L. VOND , W LLIAM E. VONDY, <br />JOHN C. VONDY, hereinafter referred to as "LESSORS", and VERNON <br />DILLEY d/b/a DILLEY'S SANll AND GRAVEL, hereinafter referred to as <br />"LESSEE". <br />WITNESSETH: <br />FOR AND IN CONSIDERATION of the mutual covenants and <br />agreements of the parties, the auEficiency of which are hereby <br />acknowledged, Lessors do by this lease to Lessee the following <br />described property in the County of Morgan, and State of <br />Colorado, to-wit: <br />E/2 SE/4 Sec. 13, T6N, R56W of the 6th P.M. <br />for the purposes of extracting and removing therefrom gravel and <br />sand and similar products. Lessors granting to Lessee the right <br />of ingress and egress and the use of the surface of the above <br />described premises as are necessary and convenient to the <br />operation conducting of a sand and gravel pit works. <br />The Lessors ace the owners of all oil, gas, and other <br />minerals, including sand and gravel, in or under or that might be <br />produced from the above described premises. <br />The term of this lease shall be for such period of time as <br />sand, gravel and other similar products of a commercial quality <br />can be mined from said property. <br />It is mutually agreed that the rental for said premises <br />shall be the sum of `." ~-~~ payable in advance upon the date of <br />the execution of this gieement for surface damages to surface <br />owner, Philip D. Vondy, and it is further agreed that Lessee <br />shall pay to Lessors for the tight to remove sand, gravel or <br />similar products during the term of this lease, a royalty of =-- <br />pec yard truck measure for all sand, gravel or similar products <br />and ."-"'per yard truck measure for dirt removed from the <br />premises which sum shall be payable on the 10th day of each month <br />and shall be payable at 502 C11Eton, Brush, CO 80723. <br />Measurement by truck measure shall be construed to indicate <br />larger or smaller capacity trucks. <br />It is furthermore mutually understood by the parties <br />hereto that the rate of payment for removal of gravel is subject <br />to substantial variation and flux and that the standard used <br />herein is determined by payment made by Morgan County as <br />royalties for the removal of sand and gravel, which is at the <br />present time _ - above what the county is currently paying and <br />will be adjusted annually up or down based on the county royalty. <br />Lessee further covenants that at the expiration of the <br />time mentioned in this lease, peaceable possession of said <br />premises shall be given to the Lessors and that upon nonpayment <br />of the whole or any portion of said rent at the time the same is <br />to be paid, Lessors may distrai.n for said rent due or declare <br />this lease at an end and recover possession as if the same were <br />held by forcible detainer. <br />Lessors reserve oil, gas, minerals and similar substances <br />not leased hereunder and have the right to lease to other parties <br />for the exploration of these minerals. Lessors agree that any <br />lease shall contain in it a provision oc clause whereby Lessee <br />shall reimburse the Lessee hereunder for any actual damages to <br />-1- <br />