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"~ ~'!. <br />GRAVEL LEASE AND AGREEMENT <br />THIS AGREEMENT made and entered into this 2nd day of March, <br />1983, by and between DONALD C. NEAL and NELLIE L. NEAL, husband and wife, <br />Montrose County, Colorado, Parties of the First Part, and THE COUNTY OF <br />MONTROSE, STATE OF COLORADO, by the BOARD OF COUNTY COMMISSIONERS OF <br />MONTROSE COUNTY, COLORADO, Party of the Second Part, <br />W I T N E S S E T H <br />THAT FOR AND IN CONSIDERATION of the agreements, covenants and <br />promises herein contained, First Parties agree to sell and Second Party <br />agrees to purchase gravel from the following described real property situate <br />in the County of Montrose, State of Colorado, to-wit: <br />A tract of land situate in the Northeast Quarter <br />Southwest Quarter (NEZSW~), Section Seventeen (17), <br />Township Fifty (50) North, Range Ten (10) West, New <br />Mexico Principal Meridian, described as beginning at <br />a point from whence the northwest corner of said <br />Section 17 bears North 380 32' 19" West, 3777.76 <br />feet; thence South 3° OS' 47" East, 893.10 feet; <br />thence North 56° 06' 44" West, 535.53 feet; thence <br />North 170 57' 42" West, 400.47 feet; thence North <br />110 08' 02" East, 207.10 feet; thence North 880 55' <br />09" East, 479.91 feet to the point of beginning, all <br />angle points are monumented with a No. 4 rebar and <br />cap marked LS 7160. The above described tract con- <br />tains 8.07 acres, more or less. <br />1. The term of this contract shall be from the first day of <br />February, 1983, to and including the first day of February, 1988. <br />2. First Parties agree to sell to Second Party gravel and permit <br />to mine the same upon the following terms and conditions: <br />(a) Twenty Cents ($.20) per yard far all gravel extracted. <br />(b) Payment shall be made in the following manner: <br />(1) Payments to be made on the first day of July and the <br />first day of February of each year during the term of this lease for the <br />amount of gravel extracted on a per cubic yard basis, at the price above <br />recited. Measurements to be made by Second Party by weight or truck load <br />count. <br />3. It is understood and agreed that the price per yard (2(a)) <br />will be reviewed every two (2) years. <br />-1- <br />