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L E A S E I • • III IIIIIIIII''II'II .r./1(- `VT "YE ~ - - - ~ - r [', `.. ~' :~ i i THIS INDENTURE, made and entered into this clay of 1979, by and between LA.'~fAR UTILITIES BOARD of Lamar, Prowers County, Colorado, hereinafter referred to as "Lessor" and VALCO INC., a Colorado corporation, of Rocky Ford, Otero County, Colorado, hereinafter referred to as "Lessee", M I S^ E SSE 4 H That for and in consideration of the mutual covenants and agreements herein contained, Lessor does hereby let, leeise, and demise unto the Lessee for the purpose and under the terms and conditions hereinafter set forth, the following described real property situate in the County of Prowers and State of r_olorado, to-wit: Beginning at the East corner of the Northeast 1/4 zind the Southeast 1/4 of Section 30 in Township 22 South. Range 45 West of the 6th P.M., thence P1est, approximatel}~ 1,180 feet; thence North, 900 feet; thence Fast, approximately 1,877 feet to the best boundary of the right of wa}~ of the Arkansas Valley Railroad+ thence Southwesterly along the right of way of the Arkansas Valley Railroad to they quarter section line of the Northwest 1/4 and the Southwest: 1/4 of Section 29 in Township 22 South, Range 46•t4est of t:he 6th P.M.; thence West along said section line approximately 303 feet to the true point of beginning. TERM AND RENTAL. The parties hereto acknowledge t}gat there is being execute s multaneously herewith a warranty deed on the above described property whereby the Lessee is conveying the zibove described premises to the Lessor. As additional consideration for such warranty] deed the Lessor hereby grants the Lessee a lease for a Fleriod of ten (10).years. At the end of such ten (10) year period, the Lessee 515a11, have the right to renew this lease on a year to year ba~;is by payment by the Lessee of the sum of Three hundred and 00/100 Dollars ($300.00) r. annually to the Lessor. Such annual perpetuation fee shall be paid no later than January 10 of each and every succeeding year. I USE OF PREbfISES. It is hereby understood and agreed by and ~ between the parts hereto that the Lessee intends to use the demised premises as a gravel processing plant, for the storage of sand, gravel, and other aggregate, for the erection and storage of they Lessee's equipment utilized in connection herewith, and for such other uses related to the conduct of the Lessee's gravel processing operation. ~ TAXES AND INSURANCE. All ad valorem real property taxes and other assessments shal be paid by the Lessor with no otlligation on t part of the Lessee. Lessee shall be responsible for individual premises liability insurance and agrees to indemnify, sa.Ve, and hold harmless the Lessor against any and all claims arising from the conduct and management of the business of the Lessee on or about the demised premises, and shall further be responsible for such personal property taxes as may be existing against the equipment of the Lessee and such property damage insurance as Lessee may desire to maintain upon the equipment of Lessee. IMPROVEMENTS. Lessor grants Lessee the expense, to erect and maintain such equipment MITCHELL 6 HAMANO rwD.tw w10 N.~COw-D 1.TIOM .TTOONtYO AT LAS •Iw NOwTN M.IN w oewr •ow D, ee~ouoe •IeeT right, at L'essee's or other improvements 0