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• • iii iiuiiiiiiiii iii <br />EXHIBIT M <br />SLB 259 <br />Rev. 5/89 <br />STATE OF COLORADO <br />State Board of Land Commissioners <br />Department of Natural Resources <br />SAND AND GRAVEL LEASE N0. 3225 <br />THIS LEASE, Made in duplicate and entered into on this 19th day of Ianuarv , 1924 , by and between <br />the STATE OF COLORADO, acting through iu State Board of land Commissioners, hereinafter referred to as <br />'Lessor', and Rio Blanco County Road & Bridge <br />P O Box 1CIC. Meeker CO 81641 <br />hereinafter referred to as 'Lessee": <br />WiTNESSETH <br />Lessor, for and in consideration of the sum of two hundred sevetgy and no/100 - Dollars (S 270.00 ), <br />receipt of which is hereby acknowledged as payment of filing fee in the amount of S 20.00 ,and rent in the <br />amount of S 250.00 ,payment in full for five years. In further consideration of the covenants and agreements <br />hereinafter mentioned, to be kept and performed by Lessee, its successors and assigns, Lessor has demised and <br />leased to Lessee the right and privilege of taking alluvial sand and gravel and interbed sandy clay (bedrock clay <br />stone and/or sandstone excluded) from the lands hereinafter described, situate, lying and being in the County of <br />Rio Blanco , and the State of Colorado, to-wit: <br />ACRES <br />40.00 <br />SUBDIVISION <br />N/2SW/4NW/4; S/2NW/4NW/4 <br />SEC.TWP.RGE. <br />10-1N-102W <br />PATENTS <br />FUND: School <br />None <br />containing 40.00 m/I acres, more or less, together with the right to rue as much of the surface thereof as may <br />be reasonably required in the exercise of the rights and privileges herein granted, subject to existing rights-0f--way <br />and the rights of surface lessees of said premises. <br />RESERVING, however, to the State of Colorado: <br />A. The right to use or lease said premises or any part thereof at any time for any purpose other than <br />and not inconsistent or interfering with the rights and privileges herein specifically granted. <br />B. The right at all times during the life of this lease to go upon said premises and every part thereof, <br />for the purpose of inspecting same, and the books of account and records of workings therein, and <br />of ascertaining whether or not Lessee and those holding thereunder by and from it, aze carrying <br />out the terms, covenants and agreements in this lease contained. <br />