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RECEIVED <br />OPTION TO PURCHASE AGREE1~fENT APR 17 2003 <br />Divisiaa of Minerals and Geology <br />This Option to Purchase Agreement ("Agreement") is made and entered into as of the 3rd <br />day of 7uly, 2002 (the "Effective Date") by and between MORE FAMILY RANCHES, LLC, a <br />Colorado Iimited liability company ("Seller"), whose address is 41890 Routt County Road 38A, <br />P.O. Box 770894, Steamboat Springs, Colorado 80477, and LAFARGE WEST, INC., a <br />Delaware corporation, whose legal address is P.O. Drawer 368, Glenwood Springs, Colorado <br />81602 ("Purchaser" or "Buyer"). <br />Recitals <br />A. Seller is the owner of two adjoining pazcels of real property located in Routt <br />County, Colorado; <br />B. Contemporaneously with this Agreement, Seller and Purchaser have entered into <br />a Purchase and Sale Agreement for Purchaser to purchase from Seller the first pazcel ("Parcel 1", <br />more particulazly described in Exhibit A attached) on the terms and conditions set forth in that <br />Agreement (the "Sale Agreement"); and <br />C. In connection with the Sale Agreement, Purchaser also desires to obtain and <br />Seller is willing to grant an exclusive option for Purchaser also to purchase the second parcel <br />("Parcel 2") on the terms and conditions set forth in this Agreement if Purchaser timely exercises <br />its option. <br />NOW, THEREFORE, in consideration of the purchase price stated in this Agreement and <br />the following mutual covenants and agreements, the parties agree as follows:. <br />Agreement <br />ARTICLE I. <br />DEFINITIONS <br />1.1 Defined Terms. In addition to terms defined elsewhere in this A,eemenf the <br />following definitions shall apply: <br />(a) "Closing" means the consummation of the purchase of Parcel 2 as <br />contemplated by this Agreement. <br />(b) "Closing Agent" means the employee or representative appointed by the <br />Title Company to effect the Closing hereunder. <br />~.: r~~ <br />~1~--1~-/ `~ <br />