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<br />. SECtion 1 J '~
<br />Rev. 2i 69 ~ ~ ~ LEASE NO. ~ •
<br />. THIS LEASE, blade std entered IntoNle y~th day of J1pl,a 1980 ,
<br />between 7HE DENT ER AND RIO GRANDE WESTERN RAILROAD COMPANY, a Delaware corporation he relttafter
<br />,: tilled ''Lessor," and 4YI`SCR.IDATF~ FSJE[u, IIv'C., a Ool t OOIj~dt1~1 ~tl ` .m}YII~9
<br />,~• ffi~aY, Mai.Li:lq Addrasis: B.O.Hmt 2867, Stef~tboat Springs, Cbloz'ado 80477
<br />berelnafter celled "Lessee." WIT NESSETH, :Tat:
<br />Section 1. Leaaor, In conatderatlon of the rents to tx paid and Ne agreements to 1>e performed by Leasms,
<br />hereby lessee to Lessee prerruaes eitiiate In the County of F371Itt
<br />a»d State of ~~,~ W-wit:
<br />(a). Dsacriptien-
<br />A st+ip o! land, of the Caesar', of varying width
<br />dying 8.5 feet aotltlatf~stnrly of the oe<ltesline of
<br />the Main ?tack of the Craig Branch, opposite Mile
<br />Post 207 plus 3875 feet sad eoctsrldislg rlcstraaesterly
<br />3,420 feet, at Mt. Harris, Rotltt CoLalty, COlorad0,
<br />a9 shtxtcl in red m the A***^~ map, Uag. No. M-399
<br />Rv., ~+^ini ~ 3.55 acres, talccltldirng that portlrtl
<br />of said ports I.C,C. Track No. 4 ltxated thertaon,
<br />as ahatal S.n g1~F11 ogl this ,tf4vi•oar{A per,
<br />(b). Tartu-To hsve std to bold said above described property from ,7~y ],5, 1980
<br />until such time as this agreement shall be terminated ss herelnalter provided.
<br />3eetlon 2. Rental-Lessee agrees to psy to Lessor a rental of Q9E '14~[SAI'ID .i1T~ HDHIgfID r1SaS`l!Y At•ID
<br />NJ/100 DOLLARS (i 1,920.00 )peraIYIl7al ,payable atlnually In ae.an«.
<br />Section 3. Purpeaa-Lessee agrees to use Bald pretnisea for the~following purpose std for m other, to-wit:
<br />Sborage sad ]Aaditlg of opal into rail cars.
<br />Section 4. Impro+enianes-Lessee shall maintain all improvements wheUOever which oo the date hereof exist
<br />upon the leaned premises std it is agreed that Leaaee may construct ltnprovemente upon the leased premisescon-
<br />alstent with the purposes of this lases, provided always, however, that the style and type of construction shall be
<br />aubJect to approval by Lessor. All lmprovemente on Ibe leaned premiaee Including those which on the date hared
<br />axle[ upon Bald premises std those hereafter constructed on Bald premiaee shall, during the continuance d this
<br />lease, be rnaintalned std pslnted by the Leeeee to the aatlefactlon of Ne Lessor, std at ell times be kept by the
<br />Leaaee In a state of good repair. All improvements heretolor ar hereafter constructed upon the leased premises
<br />shall De deemetl to be attached to the lard and to be the property of the Lessor, sub)ect to the condition hereln-
<br />after stated: provided, however, that ll at the termitutton hereof Lessee shell hove fully paid the rent heteln
<br />reserved erd shall in ell other respect have faithfully kept, observed std performed the agreements hettd, then
<br />such lmprovementa on acid leased premiaee as may hsve been purchased by Lessee or erected or placed upon the
<br />leaned premises by the Lessee shall upon such tertrilnallon become the propertyoltheLesseeatdsald Lessee nn~,
<br />or at the request of Lessor, shell, within thirty (90) days alter termination of thl^ lease, remove at Lessee's sole
<br />expense such lmprovemente on said leased premisee u may have been purchased by Lessee or erected or plsoed
<br />upon said premisee by said Leaaee std restore said pttinlaee to aubetantlally the/r loaner state to secordance with
<br />the provisions o[ Section Sl hared, but If Lessee shall be to default upon the termination d this lease, then stash
<br />lmprovemente on said leased premisee as may have been purchased by Leaaee or erected or placed upon said
<br />premisee by Lessee, shall remsln the exclusive prdperty d, the Leeeor; provided further, however, Net 1f at the
<br />terminstlon hereof lessee Is In defaultln any d the agtternente herein contained and Leesar shall nevertheless
<br />desire Leaaee to remove ouch ltnprovementa on the leased premisee as may have been purchased by Lessee oe
<br />ettcted or placed on said premisee by Leaaee, end shall so notify Lessee, then ell such improvements shall upon
<br />:: such termination become Ne property of Lessee std lessee shall remove the enure from the leased premises sod
<br />restore Bald premiaee W subetsntlally their former state to secotdence with Ne provlalotu of Section 21 tiered.
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