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~raL, <br />STEVEN S. McWILL1AMS <br />GRAVEL PROPERTY LEASE WITH RIGHT OF FIRST REFUSAL <br />THIS INDENTURE, dated this ~ day of JRUUy}~r . ~a [msert date of Lessols <br />receipt of Company~s notice of exercise of Optaonj, (hereinafter referred th as the 1:ease'~, by and <br />beMeen Steven S. McWilliams, with his address being 12238 Weld County Road #8, Fort Lupton, <br />Colorado 80621 (hereinatterreferred to as `Lessor') and Mobile Prema Canaefe, Inc., a Colorado <br />corporation {hereinafter referred to as the "Company; with ils address at 1400 West 64th Avenue, <br />Denver, Colorado 80221. <br />In consideration of the sum of <br />paid b'! the <br /> <br />Company to lessor <br />previously paid forthe Option to Lease Gravel <br />Property ('Options under which this Lease is taken), the receipt.and sur,Ticiency of which is hereby <br />acknowledged by Lessor, which sum shalt satisfy the advance minimum royalty requirement identified <br />fn Paragraph 4 with respect m the period from the commencement date hereof to the end of the first <br />year of the term of Phis Lease, and on and subject ip the terms and conditions provided in this Lease, <br />Lessor hereby leases, lets and demises to the Company the Matenais as defined herein, in, on and <br />under the real property situaba in Weld County and described in Exhibit A attached hereto and made <br />a park of this Lease (hereinaf6er referred to as the 'Property; and the exclusive right m sample, drill, <br />and test far, develop,. mine, quarry, extract, process, sell, use and remove them during the Initial Term <br />(as defined in Paragraph 2 below) of this Lease, along with the right during the lnitiai Term and . <br />Successive Terms (as defined in Paragraph 2 below) to locate-and operam with associated use <br />easemems, as provided in Paragraph 5 below. In no event shad a8 or any part of the Property be used <br />as or for a landfill. <br />T06ETHER WITH the right to use and exercise the water and water rights appurtenant to the <br />Property that belong to lessor ('water Rights' tp the extent appropriate for the extinction, removal <br />and processing of the Materials, as well as for revegetation and reclamation, and including exposure <br />of alluvia! waters to evaporation. <br />Definitions. <br />A. Commercially Economic Materials shall mean all Materials that are removed <br />from the Property and all Materials that can.be sold at a profit The determination of whether Materials <br />can be sold at a profit shall be determined by Company in its sole and exclusive discretion. <br />srsm»xa.m <br />95ZI 96Z t;tll: QN ~~ (1:~ }ianNan ~is FnJl1!1N n~,nc r~•r. ~+n, n.. nn ,..~ <br />