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J~~ • Gheti Brunvand•Summlt County Recorder 212!200414:21 Df: <br />MEMOR4NDUM OF LEASE AGREEMENT <br />This Memorandum of Lease Agreement is executed by Rock Island Land Co. LLC, a <br />Colorado limited liability company, as Lessor, and Everist Materials, LLC, a South Dakota limited <br />liability company, as Lessee, to confirm the rights of Lessee under the Option and Lease Agreement <br />dated September 30, 2002 between Lessor and Lessee ("Lease"). In accordance with Section 4.(c) <br />of the Lease, the information concerning the Lease and Lessee's rights thereunder is as follows: <br />]. Effective Date of Lease: September 30, 2002. <br />_ -~ <br />2. Exercise Date: Decembcr 31, 2^uG3. <br />3. Termination Date of Primary Term: December 31, 2012. <br />4. Renewal Periods: Lessee has the right to renew the term of the Lease for two (2) <br />additional five (5) year periods, the first beginning January 1, 2013 and ending December 31, 2017 <br />and the second begimting January 1, 2018 and ending December 31, 2022. <br />5. Property Subject to Lease: The Property leased by Lessee is depicted and described <br />in Exhibit "A" and Exhibit "B", respectively, which are attached hereto. <br />6. Use of Property: Lessee has the exclusive right to mine, extract, store, stockpile, <br />remove and sell all of the sand, gravel and by-product materials incident thereto in, on or tinder the <br />Property. <br />Capitalized terms used in this Memorandum shall have the meaning attributed to them in the <br />Lease unless some other meaning is provided herein. This Memorandum sets forth only selected <br />information concerning the Lease and Lessee's rights thereunder. Nothing contained herein shall <br />be deemed an amendment or modification of any of the terns, covenants or conditions of the Lease <br />or of either Lessor's or Lessee's rights thereunder. <br />17V WI"Ti`IESB WHEREOF, the parties have executed this ivletnorandum of Lease as of dte <br />date set forth in their respective acknowledgments. <br />LESSOR: <br />ROCK ISLAND LAND CO., LLC, <br />a Colorado limited liability company <br />~=---- <br />By: <br />am Mc lene an, Manager <br />LESSEE: <br />EVERIST MATERIALS, LLC, <br />a South Dakota limited liability company <br />By: ~' ~__ <br />Greg Nor~t~ ,President <br />