Laserfiche WebLink
<br />1 ,, <br />ASSIGNMENT OF SAND, GRAVEL RECEIVED <br />AND AGGREGATE MINING LEASE FEB 11;1p03 <br />(Na161rwin Constraction Co., Co./ORR/Haii, LLC) <br />flivisloo of Minerals and Geology <br />August 24, 1998 <br />This Assignment of Mining Lease Agreement (the "Agreement") is made this _ day <br />of August, 1998 by and between Orr/Hall, LLC ("Assignor") and Hall-Irwin Construction, Co., 3026 <br />4th Avenue, Greeley, Colorado 80631 ("Assignee"). <br />Background of Agreement. The following background statements are made to aid in the <br />understanding and interpretation of this Agreement: <br />A. On May _, 1998 Assignor signed a Sand Gravel and Aggregate Mining Lease in which BLC <br />Development, LLC is the Landlord and Assignor is the Tenant (the "Mining Lease"). <br />B. Assignee is in the business of mining sand, gravel and aggregate. <br />C. Assignor desires to assign the Mming Lease to Assignee and Assignee is willing to undertake <br />the responsibilities of the said Mining Lease. <br />NOW THEREFORE, in consideration of the mutual promises and covenants contained <br />herein, Assignor hereby assigns to Assignee all of its right, title and interest in and to the Mining <br />Lease under the, following term's and conditions: <br />1. Incorporation of Recitals by Reference. All of the recitals are incorporated herein by this <br />reference and made a part of the agreement of the parties. <br />2. Royalties. Tn addition to the royalty owed to the 1 of five cents <br />ry to the Assignor thin • each ton on <br />the Landlord under tl rate paid to <br />:very three (3) years st the third full <br />yment of the first roy [owever, the <br />~ the royalty rate shall n e of increase <br />rged by the Tenant to <br />3. .,,,...r._...._.....b._._._.__, ~acept Water Storage Rights. The Mining Lease is completely <br />assigned to the Assignee, except with reference to the agreement to pay the additional royalty <br />noted in paragraph 2 above and except the water storage rights referenced in paragraph 4 <br />below. Assignee shall not be required by this Agreement to do anything that is not required <br />of the Tenant in the Mining Lease. Without limiting the foregoing statement, Assignor <br />understands that the extent of mining on the Property described in the Mining Lease is <br />discretionary with the Assignee. <br />