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wr -o/ <br />`'~ r,~~~ ~rw~~ WjlpF~-alp ~ IVED <br />~~ O~G, v ~' The S~orc~"~ <br />SAND, GRAVEL AND AGGREGATE MINING LEASE ~ FEB 21;2003 <br />(flalFlrwin Conrtntction Co., Co./ORR/HaI1,1LCJ <br />Division of Minerals and Geology <br />December 4, 1997 <br />This Mining Lease is made this c~ day of December; 1997 by and between Orr/Hall, <br />LLC ("Landlord") and Hall-Irwin Construction, Co., 3026 4th Avenue, Greeley, Colorado 80631 <br />("Tenant"). <br />Background of Agreement. The following background statements aze made to aid in the <br />understanding and interpretation of this Mining Lease: <br />A. Landlord owns the property described on Ezhibit A (hereafter known as the <br />"Property" and sometimes referred to as the "Sand, Gravel and Aggregate Mine"). <br />B. Tenant is willing to pay the costs associated with permitting the Property as a Sand, <br />Gravel and Aggregate Mine. <br />NOW THEREFORE, in consideration of the mutual promises and covenants contained <br />herein, Landlord hereby leases to Tenant those portions of its Sand, Gravel, and Aggregate Mine <br />located on the Property. <br />1. Incorporation of Recitals by Reference. All ;of the recitals are incorporated <br />herein by this reference and made a part of the agreement of the parties. <br />2. Minerals to be Mined. Tenant shall have the right, but not the obligation, to <br />remove sand, gravel and aggregate from the Property. <br />3. Term. This Lease is effective as of the date of execution and shall expire when <br />all minerals aze fully mined. <br />4. Storage. Tenant may store sand, gravel and aggregate on the Property during the <br />term of this Lease and may operate a batch plant on the Property. <br />5. Royalty. Tenant shall pay the Landlord, as royalty, <br />sand, gravel and aggregate sold from the Property and payment shall <br />gravel and aggregate is sold to customers of Tenant. The quantity' <br />sand, gravel and aggregate is loaded in Tenant's trucks. It is further ai <br />the right to mine all other materials and minerals on the Property ii <br />gold and other precious metals, and Tenant shall have all such mai <br />payment or proration. <br />Tenant shall pay the amount of royalty in arreazs at the end of each month that this <br />Lease is in effect. Tenant shall forward to Landlord monthiy reports showing the quantity of <br />sand, gravel and aggregate sold during the preceding month according to load tickets with dates <br />