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• • E%HIBIT O <br />• <br />L E A S E <br />THIS LEASE made and entered into on this 30th day of Janu- <br />ary, 1987, by and between: <br />HARVEY GREEN, 31948 Highway 71, Snyder, <br />Colorado 80750, hereinafter referred to <br />as Lessor, <br />and <br />MORGAN COUNTY, COLORADO, by and through its <br />Board of County Commissioners, P. 0. Box 596, <br />Fort Morgan, Colorado 80701, hereinafter <br />referred to as Lessee. <br />In consideration of the covenants hereinafter set forth and <br />the: payment of royalties by Lessee, Lessor does hereby lease, let <br />anc~ demise unto Lessee, exclusively, the following described <br />property in Morgan County, Colorado, to-wit: <br />Township 6 North, Range 56 West of the 6th P.M. <br />• Section 24: E~SW~ <br />fo~~ the purpose of quarrying, mining and removing therefrom sand, <br />grcivel and other aggregate which is to be used by Lessee upon <br />county roadways. <br />Lessor may continue to use the property as he so desires, <br />' but: such use shall be subordinate to Lessee's operations. <br />Specifically, Lessor reserves all oil, gas and other minerals, <br />to€;ether with all rights, privileges and interests relative <br />thoreto. <br />TERM OF LEASE <br />1. This lease shall be in effect for a period of five <br />ye+-ra from January 1, 1987, to December 31, 1991. Lessee shall <br />have the right and option to renew this lease for successive <br />periods of five years each extending from January lat of each <br />su~:ceeding five year term for the life of the sand, gravel or <br />otlaer aggregate being removed. If Lessee desires to exercise its <br />option to renew this lease for successive periods as provided, it <br />shall at the beginning of each five year term pay Lessor the sum <br />of One Dollar (51.00), representing advance payments for such <br />year. <br />• <br />