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TRIPLE NET LEASE
<br />THIS LEASE is made on May 2t, 2004. between Angus Investment, LLC, a Colorado limited
<br />liability company (the "Lessor") and King Mountain Gravel, LLC Ithe "Lessee").
<br />In consideration of the payment of the rent and the performance of the covenants and
<br />agreements by the Lessee set forth below, the Lessor does hereby lease to the Lessee the
<br />following described property situate in the County of Routt in the State of Colorado; the street
<br />address of which is Vacant Land in Routt County, CO
<br />t. All real property and mineral rights on or under Township t North, Range 85 West, b'" P.M.
<br />all in Section t4, W/2E/2, E/2NW/4, SW/4NW/4. NE/45W/4 containing 32792 acres, m/l, Routt
<br />County, Colorado, including coal, oi(, gas, coalbed methane, sand and gravel.
<br />2. Water, water rights, ditch, ditch rights, reservoir and reservoir rights, wells and well
<br />permits of every kind and nature, with all structures, equipment and appurtenances used in
<br />conjunction therewith, which are appurtenant to, or historically utilized on the real property in
<br />Routt County, Colorado described as Township t North, Range 85 West of the b'" P. M. all in
<br />Section t4 W/2E/2, E/2NW/4, SW/4NW/4, NE/45W/4 containing 327.92 acres, m/l, Routt County,
<br />Colorado, including all of the Grantor's right, title and interest in and to the following described
<br />water rights:
<br />lil t.0 second feet of water in the Morse ditch;
<br />(ii) The Miller-Linn Pipeline;
<br />(iiil The Hewes and Hewes Springs;
<br />liv] Hewes Spring No. 3: and
<br />(vl Hewes Reservoir Nos. t through 4.
<br />Legal Description
<br />TO HAVE AND TO HOLD the same with al! the appurtenances unto the said Lessee from twelve
<br />o'clock noon on May 2t, 2004. and until twelve o'clock noon on May 2t, 2006, at and for a rental
<br />amount, payable in monthly installments of ~ on or before twelve o'clock noon on the
<br />2t" day of each calendar month during the term of this lease at the office of the Lessor at 650
<br />South Cherry Street, Suite q2o, Denver, CO 80246, without notice.
<br />The Lessee, in consideration of the teasing of the premises agrees as follows:
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