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., <br />This lease, made this ~ day of Si ti ~ Ll~~_, 1981, <br />between Ralph Wilson, Lessor, end Ray P. Bing am, d 7a Bingham <br />Crushing, Lessee. <br />In consideration of payment of royalties and the keeping and <br />the performance of the covenants and agreements by the said Lessee <br />hereafter set forth, the said Lessor hereby leases unto the Lessee, <br />a parcel of ground containing approximately twenty (20) acres, <br />more or less, at Paonia, Colorado, for the purpose of operating a <br />,gravel pit, crushing gravel, storage of machinery and finished <br />gravel products, and other purposes pertinent to the operation of <br />a gravel business. <br />Also, the Lessee is given the right to clean the river channel <br />consisting of approximately one-half (1/2) mile of river. <br />Lessee may, at his own expense, hook up to city water, <br />electricity, telephone, and may construct semi-permanent structures, <br />etc., as is necessary in the operation of his business. <br />The terms of this lease shall run for a three (3)" year period, <br />expiring .5~~-ilr~~,,/,rr_,1,5 , 1981, at which time Lessee shall have <br />an option off re~g this lease e..~~-ono ~Y..o ...mss .., o._ <br />19~.~ Gi,~~.~ rene uot~•'=w yti c' Cen~•~n~~.i, ~~~ <br />It is also undei•atood that if permits are required, it shall <br />be the responsibility of the Lessee to obtain such required Federal, <br />State or County permits. <br />In consideration of the above, the Lessee agrees to pap the <br />Lessor a royalty of twenty ($0.20) cents per cubic yard of material <br />removed Prom the premises each month, and shall report to the Lessor <br />the first day of each month the amount of royalty due, and shall <br />make payment of such amount due no later than the first day of the <br />following month. <br />s• <br />/) <br />`'t ~ ~~ /l' ~ ~ Lessor <br />~ - --- <br />.','Gii/' ,.~„~~ ._ Lessee <br />7 <br />