2004-04-13_PERMIT FILE - M2004026

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Lease A~eement with Option to BuY Material THIS AGREEMENT is made and entered into on this Sei day of January, 2004, by and between the Owner(s) FRANK L. LEONE JR. & SOPHIE LEONE whose mailing address is: 502 SOUT WALNUT STREET, TRINIDAD, CO 81082 and LEONE SAND AND GRAVEL, LLC whose address is: 502 S. WALNUT STREET, TRINIDAD, CO hereafter referred as the Company. WITNESS THAT: The Owner(s) for the consideration of one hundred dollars (~ and further agreement hereby leases to the Company an exclusive option for the purpose ofpurchasing, processing, producing, and removing such materials located on land described as follows: See Legal- See Exhibit "A" The Company desires to purchase any materials located on the above described land, it is understood by both parties that any additional royalty or like fees required for any reason above acrd beyond the following rates will be born by the Owner(s) of the property and not the Company. Royalty fees will be paid at the following rate: All Aggregate Products removed at $sper ton. All Aggregate Products removed at $~per cubic yard The Company agrees to make yearly advance royalty payment ofd (~to be applied towards the future removal of materials from this pik This Lease Agreement with option to buy materials shall commence on the day of this agreement and remain in force for a term of 20 twenty years, with the option to renew for an additional three (3) years, terminating on the So' day January, 2025 at 12:00 noon. With the option to renew until the material is mined out. 'Ilre Company shall have the right of ingress and egress to and from the subject premises and to erect any temporary structures, such as screening, crushing, and/or asphalt or concrete plants; to stockpile material in an area of sufficient size; and to employ any reasonable methods for the removal of said material. The Company shall also have the right of ingress and egress for the purpose of reclamation. The Company also has the right to cross through above referenced property for the propose of conducting mining operafion on adjacent properties.