2007-07-23_REVISION - M2000030 - Laserfiche WebLink

Home Browse Search

'JUL 2 ~ 2007 Division of Reclamat+on, LEASE AGREEMENT Mining and Safety This Lease Agreement ("Agreement") is made effective as of April 1, 2007 by and between High Plains Properties, LLC, a Colorado limited liability company ("Lessor"), whose address is 556 Struthers Ave., Grand Junction, CO 81501, and SLAM CONSTRUCTION, INC., a Colorado corporation ("Lessee"), whose address is 556 Struthers Ave., Grand Junction, CO 81501. The parties agree as follows: LEASE OF PREMISES. Lessor leases to Lessee, and Lessee leases from Lessor, with respect to that real property ("Property") in LaPlata County, Colorado, described below and incorporated by this reference: (a) the exclusive right to develop, mine, produce, remove, process, stockpile and market all sand, grave], rock, stone and soil (except for top soil required for reclamation); (b) the exclusive right to store on the Property in one or more areas approved by the Lessor non- hazardous materials capable of being recycled into and resold as construction aggregates ("Products"); (c) the exclusive right to produce Products in one or more areas of the Property approved by Lessor; (d) non-exclusive surface access and use of the property; and (e) the non- exclusive right to use all water rights belonging to or adjudicated for use with the Property. LEGAL DESCRIPTION. W'/zSW~/a of Section 35, Township 34 North, Range 9 West, N.M.P.M. TERM AND RENT. The term of this Lease shall commence April 1, 2007 and shall end Mazch 3I, 2017. Lessor is also granted an option of ten years to renew this Lease. Rent shall be payable Monthly and shall be Five Thousand dollazs ($5,000.00). During the first term of the Lease, the Production Royalty shall be calculated at the rate of two-dollazs ($ 2.00) per ton. Ten yeazs from the effective day of this Lease, if the Lease is then still in effect, the production royalty shall be renegotiated between the Lessor and the Lessee. Payment of Production Royalty shall be due by the 25a' day of the month following the month the Sand and Gravel is sold or removed from [he Leased premises. SEVERABILTfY. If any portion of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited. ENTIIZE AGREEMENT/AMENDMENT. This Agreement contains the entire agreement of the parties and there are no other promises or condifions in any other agreement whether oral or written. This Agreement may be modified or amended in writing if all parties sign the amendment. LESSOR: High Plains Properties, LLC By. Harold F. Elam, Manager LESSEE: Elam Construction, Inc. By: Harold F. Elam, President