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<br />LEASE AGREEMENT FOR BAND AND GRAVEL <br />1. PA1tTIE8. The parties to this Agreement are DONALD J. BHERWOOD, <br />("Lessor") whose address is c/o Sherwood Enterprises, 120 Ninth <br />Avenue, Longmont, Colorado 80501, and DAVID B. NYBTROM, <br />("Lessee"), whose address is P.O. Box 490, 7916 Niwot Road, Niwot, <br />Colorado, 80544. <br />2. RECITALS AND PURPOSE. The Lessor is the owner of real property <br />in Weld County, Colorado, described on Exhibit A. Lessee operates <br />sand, gravel and associated activities and desires to lease the <br />property described on Exhibit A from the Lessor for the purpose of <br />mining sand, gravel, and their constituents, and conducting of its <br />associated activities. The Lessor desires to lease the property to <br />the Lessee upon the terms and conditions hereinafter set forth. <br />Therefore, the purpose of this lease is to set forth the terms <br />and conditions of the Lease between the parties. <br />3. CONSIDERATION. This Lease is executed by the parties for and <br />in the consideration of the royalties, terms, covenants, conditions <br />and agreements of the other party as herein set forth. Each party <br />agrees that the consideration given is good, valuable and <br />sufficient. <br />4. LEASED PREMISES. The property subject to this Lease consists <br />of the real property described on Exhibit A, which is hereinafter <br />referred to as the "premises." <br />5. TEIRM. The term of this Lease shall begin on the date hereof <br />and shall end on the ninth (9) anniversary hereof. All obligation <br />of th~a Lessee with respect to the reclamation of the leased <br />premises shall be completed within the term of the lease. <br />S.a. Upon execution of this lease, lessee will begin <br />immediately to secure the necessary permits needed to start up <br />the mining operation and diligently pursue issuance of the <br />permits. <br />S.b. Upon receiving final approval of all permits required, <br />mining operations will begin immediately including, but not <br />limited to, dewatering of the pit and stripping of the area. <br />Mining operations shall be continuous till the reserve is <br />depleted. Normal mining operations can include shutting down <br />of production activities during the winter months of November <br />through March. <br />S~.c. Time is of the essence concerning all particulars <br />pertaining to this lease. <br />rlwpsllcmtncullu¢.aqu 1 <br />