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EXHIBIT N
<br />SOURCE OF LEGAL RIGHT TO ENTER
<br />OPERATOR HOLDS A GRAVEL LEASE FROM THE SURFACE OWNER WHO ALSO
<br />OWNS THE GRAVEL ON THE PROPERTY-SEE ATTACHED PAGES 1, 10 AND 11
<br />GRAVEL LEASE
<br />THIS GRAVEL LEASE (this "L<ast'~ is made and is effemive as oflanuary I, 2~ by and between the
<br />parties hereinafter named, for the term and upon and under the [eons and cmtditions hereinafter set forth.
<br />Parties. The parties to this Lease, and their addresses for eU purposes hereof, are: (a) LESSOR:
<br />ITINGTON whoa address is 1108 IINOBCONE DRIVB. LOVELAND, CO 80538, and (b)
<br />PLA1!!IS SAND AND. GRA~!EL, LLC. a Colorado limited tiebility comoanv, whose address is
<br />2. Grant of Lease.
<br />(a) Lessor represents and warrants that it is the owner in fee of certain (ands situated in Larimer County,
<br />Colorado, more particulmly described an Exhibit A attached hereto (the "Laadr'~. In addition, there are water
<br />rights appurtenant to the bands. The Lands, excluding the appurtrnant water rights, but together with the sand end
<br />grovel reserves (excludhrB other ~~, averbmden, topsoil, loose rork or any combination thereof] on m
<br />contained within the Lands or formed in associmion therewidt ("Leaud Saad and G~ave!'~, m the a#mt that any
<br />of the foregoing oatu and are fotmd betwern the surface and [op of the uppermost [approximately forty feet below
<br />the existing smFace of the t.and] underlying shale formation (the "Leaned Strara'~, are the subject of this Lease and
<br />ere hereinafter referred to together as the "Property."
<br />(<') For and in consideration of the payment of the Minimum Royalty (as defined in Paragraph ~, the
<br />Productloa Royalty (as defined in Paragraph S) and the covatants herein agreed to be Paid end performed by
<br />Lessee, and subject to the terms and crosditrms hereof, Lessen hereby grants, leases and lets the Property exclusively
<br />unto Lessee, its permitted successors and permitted assigns, to have end to hold the soma far the term hereof, ben
<br />does not warrant the title to the same, unto Lessee, its permitted successors, and permitted assigns. Lessce will not
<br />during the term of this Lease create any non-oporeting interests in the Property (such es overtiding royalty intces[s).
<br />(c) Lessor reserves unto itself, its successors and assigns, Lessor's reversionary interest in the Property,
<br />together with the royalties reserved herein, the estates in all other oil, gas or other minerals and all deposits other
<br />than the Leased Sand and GraveA, the appurtenant wares rights, and ap other estates and interests in thePropertydtat
<br />ere no[ the subject of this Lease.
<br />(d) In connection with and es a part of the leasehold interests hereby granted, Lessee shall have and may
<br />exercise, the following rights with respect to the Property: (i) the right to conduct operations for exploring,
<br />developing and mining [he Leased Saud and Gravel, performing such exploration, development and mining in the
<br />manner Prescribed by law and bS this lwse, whether by surface or other mining methods; (ii) the right m stockpile
<br />and store on or within the Lands err permanently m rwove from the Lands, all, use and dispau of the Leased Send
<br />and Gravel, (iii) the right, subjem to any provisions herein w cemmingling, m stordrpile sand and grovel an the
<br />Lands from other sites withom incurring royalties on subsequent removal or uu of same from the lands; (iv) such
<br />rights of etcess for personnel, equipment, supplies, utilities and water as may be necessary or convenient for [he
<br />conduct of Lessce's operations an the Lands, ben not including access upon and aoross any other intervening or
<br />contiguous Imd owned m ceutrolled by Lessor or over whirl Lessor may have dominion or control [provided
<br />Lessor may provide consent for access by separate agreement in writing]. The Lessce shall not have the following
<br />rights on the Lands: (i) the right to construct and operete on the Lands asphalt plants and concrete plants, (ii}the
<br />right [o use the Lands for processing plants, scale houses, sales offices, gushing and screrning plants, washing and
<br />settling facilities, and storage of related equipment; and (iii) the right to mine, extract, son, process, mix, convert to
<br />markerable concrete or other products.
<br />3. Term. 'Ihe Tenn of this Izase shall canmence w the date first written shove and, unless snorter
<br />terminated either by Lessor or by Lessee in accordance with Paragraph 12, shall be (~~ years
<br />Except with respell to Production Royalty and Minimmn Royalty calalations, in which calendar years are used,
<br />references hereinafter to a "yeor" of the Lease shall be dernted to be references to a "Lease Year,"which is hereby
<br />defined to be a calendar year of 365 days (366 days in leap years). The firer Lease parted ehaB commence on the
<br />date first written above and shaft end on December 3I, 2GH4: The Rrot Lean Year aheB begin on January 1,
<br />2~s, and shall wd on December 31, 2 0~ The dates of beginning end ending of earJt subsequent Lease Year
<br />shall be reckoned in the same manner.
<br />0. Representations Lessce makes the following reprasenmtions to Lessor. (a) Lessee is fl corporation duly
<br />formed, validly existing and in good standing ands the laws of the State of Colorado and is authorized to txmduct
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