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. 3.~."~~
<br />~ECEIVE®
<br />- ' . FEB 1)~,. 2003
<br />Divis' ~
<br />FIRST AMENDMENT TO SAND, GRAVEL AND AGGREGATE MINING LEASE DATED MAY 2~ ~~nerals and t;eaioBr
<br />This First Amendment to Sand, Gravel and Aggregate Mining Lease dated May 22, 1998 ("Agreement"),
<br />is entered into and effected as of November 1, 2002 ("Effective Date") by and between Hall-Irwin
<br />Corporation, a Colorado corporation, the mailing address of which, for purposes of this Agreement, is
<br />P.O. Box .2150, Greeley, Colorado 80632 ("HI"), and Hall Family Partnership of Firestone, LLP, a
<br />Colorado limited liability partnership, the mailing address of which, for purposes of this Agreement, is P.O.
<br />Box 2150, Greeley, Colorado 80632 ("Hall Partnership"). The foregoing may hereinafter be individuatly
<br />referred to as "party" and collectively referred to as the "parties".
<br />RECITALS
<br />A. WHEREAS, ORRlHall, LLC ("ORRMaII"}, as Tenant, and BLC Development, LLC, as Landlord,
<br />entered into that certain Sand, Gravel And Aggregate Mining Lease dated May 22, 1998 ("Lease");
<br />and,
<br />B. WHEREAS, certain rights and duties of ORRMaII, were assigned to Hall-Irwin Construction Co. nka
<br />Halt-Irwin Corporation ("Hatt-Hwin") in that Certain Assignment Of Sand, Gravel And Aggregate
<br />Mining Lease dated August 24, 1998 ("First Assignment"); and,
<br />C. WHEREAS, in Section 2 of the First Assignment, Hall-Irwin agreed to pay to ORR/Hall $0.35 per ton
<br />for each ton on which a royalty is paid to the Landlord under the Mining Lease ("Royally Rate"); and,
<br />D. WHEREAS, ORR/Hall assigned all of its right, title, and interest in and to-the Mining Lease to Hall
<br />Partnership and Olando Ltd. Liability Co. in that certain Assignment Of Royalty Interest And Storage
<br />Rights Under Sand, Gravel And Aggregate Agreement Mining Lease dated September 13, 2002
<br />("Second Assignment"); and,
<br />E. WHEREAS, Hall Partnership and Olando. Ltd. Co. assigned all of their right, title, and interest in and
<br />to the Mining Lease to Hall Partnership in that certain Assignment of Royalty Interest And Storage
<br />Rights Under Sand, Gravel and Aggregate Mining Lease dated September 13, 2002 ("Third
<br />Assignment"); and,
<br />F. WHEREAS, the parties hereto desire to amend the First Assignment as set forth hereinafter.
<br />AGREEMENT
<br />NOW, THEREFORE, in consideration of the covenants and agreements contained herein and other good
<br />and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
<br />hereto agree as follows:
<br />lncorooration Of Recitals. All Recitals hereinabove are hereby incorporated herein by reference and
<br />made a part of this Agreement.
<br />2. Royalty Rate Change. The Royaity Rate is hereby changed 1 on as of
<br />the Effective date.
<br />3. Take or Pav. Not withstanding anything in the Mining Lease, First Assignment, Second Assignment,
<br />Third Assignment or this Agreement, Hall-Irwin shall pay to Hall Partnership the minimum amounts
<br />set forth below.
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