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<br />LEASE AGREF,MENT
<br />THIS AGRE;EMENI' is made [hie ,~)~ day of Nu~rmher, 19811, by
<br />Paul C. Hertsog and Rosemary Hertzog ("Lessors") and Quillen Coml,any, .~
<br />Colot~do corporation ("Lessee").
<br />RECITALS:
<br />A. Lessors are the owners of certain lands located in
<br />Township h North, Ranges rJ4 and 95 West of the 6th P.M., more
<br />specifically described bel.,w, on which there are deposits of sand and
<br />• gravel which Have been extracted commercially in the past.
<br />B. Lessee rvnulu.a> a :,and and gravel business, headquartered
<br />ai Craig, Colorado, and dt;.rres lc, lease [he property described below
<br />for sand and gravel mining, aitd removal purposes,
<br />C, Lessors r!,.airr [u retain the use of the :;urC.,Ce estate of
<br />Che property described b.~l.,w Eor purposes not inconsistent with this
<br />lease.
<br />D. By reason .~f gr,vernmen[al requirements and usher
<br />requirements ae well ae, tL~ investment involved to open sand and p;ravel
<br />pits, it is necessary tl~.,t this lasso be for a reasonably long period
<br />of time to insure to tlx:- I,~~ssce the ultimate fruits of its investnent.
<br />NOW THEREPUNI•. I~~r •nni in consideration of the mutual
<br />promises, covenants and ::•,cdmenr:: of the parties hereto and the srm, o[
<br />One Dollar and No/100, p:.,.l by Lessee Co Lessors contemporaneously with
<br />the execution of this :i,•r~,~n,unt, the receipt and sufficiency whereof is
<br />hereby confessed and arb.n.~„lodged and other good and valuable
<br />consideration, Lessors dc. 1, ,?r~l,y lease to Lessee the hereinafter
<br />described property upon J,~• lullowing described terms anti conditions.
<br />1. Property ~.~! ~,-.t to 1•ease: Those lands owned by Lessors
<br />located in Sections 1 .ui~~ 12 oC Township 6 North, Range 95 West o[ the
<br />6th P.M. and in the Wl/: •~~ Section s 6 and 7, Township 6 North, Range
<br />94 West of the 6th P.M., ,~, r4uCfar County, Colorado (h~reinaf.ter the
<br />"Property"), as shown ..n :h,• map thereof labeled Exhibit A, attached,
<br />and as specifically d,~sr„t.,,•I in I(xhibit B, attached.
<br />2. Purpose <,r i.,:,:,e: To explore Eor, wash, crush, mine,
<br />maKket, stockpile, stur,~ .:~.•I remove r.,ck, sand, gravel and washed
<br />aggregate and all norm,,l .u.,l usual functions .incident thereto.
<br />3. Limitation:. .•~~ Leasehold: Lessee will bekin its
<br />opCra[ions in a single prr, dad shall proceed therefrom in :. solid and
<br />cogtlgUOUB pd[tern. Less.~c shall have the right to open add itioual
<br />pits, so long.as. [his c":rr.,~• of action is not capriciuus-
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