2005-01-28_REVISION - M1981277 (2)

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ExN~r3~r RECEY'~ JAN 2 8 2005 Stone Quarry Lease Agreemem This Lease made the 20'" day ofDecember, 2001, between E. Leonard Loukonen, his personal representatives, successors and assigns of Post Office Box 333, Lyons, Colorado, 80540 (herein "LEONARD" or the"LESSOR"), and theLOUKONEN BROS. STONE COMPANI', its successors and assigns, a stone company incorporated under the Laws of the State of Colorado, doing business at 12993 N. Foothills Flighway, Longmont, CO, 80503 (herein the "LESSEE" or "OPERATOR"). RECITALS 1 Leonard, the Lessor herein, is the owner of the surface estate of a parcel of land and is the mineral estate owner of said parcel including construction material as hereinafter defined of said parcel, which is currently being used by Leonard for stone quarry purposes (herein the "~Bit'~ Qifarty Pat+tteN'), being approximately One Hundred Ninety (190) Acres, described in EXHiB1T A attached hereto and incorporated herein by reference. 2. Leonard Loukonen desires to lease all of his right, title and interest in and to the aforementioned surface and mineral estate together with right of ingress and egress and surface use of Lessor's surface estate for the purpose of moving, storing, and removing his stone, rock and construction material, to the "LESSEE" or "OPERATOR," Loukonen Bros. Stone Company, a Colorado corporation. 3. Loukonen Bros. Stone Company is a company which extratts commercial mineral deposits and constn~ction material by mining and quarrying as hereinafter defined including sandstone and limestone for use in its business of selling such deposits and construction material for construction purposes and other commercial purposes. 4. The demised Parcel possesses commercial mineral deposits and construction material located within said parcel, including sandstone and limestone for which quarrying by an operator is commercially feasible and such deposits have significant economic value to said parcel owner, his successors and assigns, the operator, the County of Boulder and State of Colorado. 5. Lessee desires to lease the parcel, together with casements for surface access and use accommodation from Lessor, herein referred to as the "Parcel" or "Leased Parcel", for the purposes of quarrying and removing stone, rock, and other construction material from said property, and Lessor desires to receive monetary payments, to which he is entitled, as hereafter defined, from Lessee for all materials removed from the Parcel.