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<br />' LEASE AGREEMENT TO BUS MATERIAL <br />' THIS AGREEMENT is made and entered into on the S~6 Day of ~'«~ ~! /5S ~ by and <br />' between the Owner(s): Ronald and Marie Tipping, whose address is P.O. Box 1849 Grand <br />Junciton, Co. 81502 and, Grand Junction Pipe & Supply Co., whose address is P.O. Box 1849 <br />Grand Junction, Co. 81502, hereafter refereed to as the Company. <br />' WITNESS THAT: The Owner(s) for the considerations herein hereby leases to the Company for <br />the purpose of purchasing, processing, producing, and removing aggregate material from the land <br />' described as follows: <br />The 23 Road Pit is located as follows: The West''/z Northwest I/4 of the Southwest 1/4 of <br />Section 5, Township 1 South, Range 1 West of the Ute Meridian, Mesa County, <br />Colorado. <br />The Owner(s) will be paid a royalty fee at the following rate: <br />' Aggregate products removed at $1.00 per ton. <br />This Lease Agreement shall commence on the date of the agreement and remain in force for a <br />term of five years. <br />' The Company shall have the right of ingress and egress to and from the subject premises and to <br />erect any temporary structures, such as screening, crushing, and/or asphalt plants and related <br />office or yard site; to stockpile material in an area of sufficient size; and to employ any reasonable <br />methods of the removal of said material. <br />The Company agrees to provide liability insurance and shall be responsible for all of its operations <br />' The terms hereof shall be binding upon and insure to the benefit of the heirs, executors, <br />administrations and assigns of the respective parties hereto. <br />related to mining of the property. The Owner(s) will be held harmless for acts of the Company <br />and its employees or subcontractors related to operations on the property. <br />Payment to be made on the basis of scaled weights minus import materials such as asphalt, lime, <br />blend sand, etc. Other methods of measurement made may be used as mutually agreed upon. At <br />' the end of each month of operation an accounting of activity during the month will be made. <br />Payment to be made by the 20th day of the following month or as otherwise agreed to. <br /> <br />1 <br /> <br />