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51.ATC OF <br />?LRARlt1Cl <br />D]1'ISIO•~' <br />DOH Form <br />Revised: <br />COLORADO <br />~T OF H1GHl•JAl'S <br />OF HIGHI•JA1'~~ <br />No. 788 <br />February, 1979 <br />iii iiiiiiiiiiiu iii ~ <br />FC 050-3(26), <br />Jct. SH 69 @ Texas Creek <br />P11 ]DCKTIFICATIU;. <br />Tezak Pit - Construction <br />• OPTION TO BUY MATERIAL <br />THIS AGREEMENT is made and entered into this 1 da~~ of December 19 80 by and <br />between the Owner(s): Edward J. & Beverly Tezak Jr. <br />whose mailing address is: P. 0. Box 398 Cotopaxi, C0.- 81223 <br />the Mortgagee: , <br />and the STATE DEPARTI4ENT OF HIGHWAYS - DIVISION OF HIGHI•JA1'S - STATE OF COLORADO, <br />hereinafter referred to as the Department. <br />WITNESS THAT: The owner(s) for the consideration of one dollar, receipt of which is <br />hereby acknowledged, does hereby grant to the Department an exclusive right and option <br />from the date of this agreement until the 31 day of December 19 81 , at 12:00 <br />noon, to purchase, process, produce, and remove such materials located on land described <br />as follows: E; of SW; Sec. 22, T. 48N. R. 12E. <br />a contract has been awarded and the subject material is being used or is to be used, <br />e expiration date of this Option will automatically extend until the work is completed <br />for that particular project. <br />In the event the Department desires to purchase any material located on the above <br />described land the Owner will be paid a royalty fee at the follo~aing rate: <br />(a) Borrow at Forty Cents ( 40 ~) per cu, yd. <br />(b) Gravel at Twenty-five Cents ( 25 ¢) per Ton <br />(c) <br />at <br />( ¢) per <br />The Department shall have the right of ingress and egress to and from the subject <br />premises and to erect any temporary structures, such as screening, crushing, and/or <br />asphalt plants; to stockpile materials in an area of sufficient size; and to employ any <br />reasonable methods for the removal of said material. Colorado Mined Land Reclamation Rules <br />and Regulations will apply. This agreement and anv State, County, or I4unicipal Permits <br />obtained by the Department are for the removal of material for use on Department projects <br />and maintenance only. <br />It is understood and agreed that, upon the award of a contract by the Department to a <br />contractor for the construction, improvement, and/or maintenance of highways, the <br />Department may assign to the contractor all its right, title, and interest under this <br />instrument, insofar as the same shall be applicable to Department projects let to the <br />Contractor, who may reassign such option to subcontractors working on said projects. If <br />the option is exercised by the contractor or any suhcontractors, said contractor or <br />subcontractor shall have a right to extract al] material needed for the projects <br />~overed by the contract awarded by the Department. suhject io all terms of the Option. <br />Page 1 of 3 <br />