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i <br />a <br />C1 <br />i <br />THIS AGREEMENT is made this ' .; ~ ~'~ day of <br />BETWEEN: <br />WESTERN PAVING CONSTRUCTION CO., of <br />Denver, Colorado, <br />AND: <br />(hereinafter called "Western Paving") <br />RONALD GREGORY, of <br />Longmont, Colorado, <br />(hereinafter called "Gregory") <br />SUBJECT MATTER: <br />The subject matter of this Contract is quarrying, <br />namely, the removal of sand and gravel from the property de- <br />signated on Schedule "A" hereto. <br />COMMENCEMENT AND DURATION: <br />This Contract shall commence on the date when <br />final approval has been obtained from all governmental <br />agencies having jurisdiction over the subject property to <br />authorize the extraction of sand and gravel and shall terminate <br />on December 31, 1991 or when all sand and gravel has been <br />removed, whichever first occurs. The term "operational <br />season" shall mean the period from April 1 through December 31 <br />of each calendar year. <br />PRICE AND PAYMENTS• <br />1) Western Paving shall pay Gregory-.-.a_~royalt.~LOf_ - - <br />per ton for all sand and gravel <br />removed from the property; ' <br />2) An initial advance payment of <br />shall be paid by Western ;~ <br />Paving in the following manner: r <br />~\ <br />a) upon acceptance ~~ <br />of both parties of this Agreement; ~ ~" <br />b) ~ upon issue of ` <br />such final permit as will allow Western Paving to <br />commence operation; <br />i <br />,i <br />