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• LIiASIi AGRC•C•M(:NT • I~his Lease Agrccnicnl (Ibis "Lease") is made effective as of FE(~~ Z y /594. by and between Ifr1Rl. IIIiNN(:'I~'I' ("Landlord"), and 81.AA1 ('DNSTRUCTION, INCi ("'tenant") l'hc panics/- agrcc as li,llu`vs r C. M-~_! -/66 ~ QEA/h°~V! IYt/eL P; / F~le N I'Rlf h71SI:S. Landlord, in consideration of the lease paymems prm~ided in this Lease, leases to l~euam the exclusive right to enter upon the Premises and to extract, process, stockpile and remove gravel wsuurce in accordance with the terms hereof on the property (the "Premises") located at 14711 I liglnvay 5(1, Delta, Colorado 81416 LG(iAl. DI~.S('kIPTION The legal description for the Premises is a pact ul'Ihe SL I/4 SW I/4 Section I I, Township IS South, Range 96 \Vesl, Sixth P M .SiORA(iG Tenant shall be entitled to store items of personal property in within the limits of pu,pcny owned by landlord dining the term o(Ihis Lease Landlord shall not be liable fnr loss of, iii iiuiiiiiiiiiiii ~Uh~~~, Reserved AUG 0 6 1997 Durango Fiek1 OKr~• Di~+ebn a Mirr•rall! a o•aopy or damage lo, such stored items. ~L Jr.~ iSr /99G• '1'f?It(s1. 'I~he Icasc feint will I:egin un pcbn;ar~ ?9, 1996 and v:ill tenninale un ~. 1.13ASIi I'AYMLNTS. Tenant shall pay to Landlord: a loyalty o($ 100 per ton (or gravel mined and removed from properly 1,'I'cnanl shall weigh all material as it is removed from the leased site and keep good and accm ate weight records thereof and provide Landlord with a written slatemem as to all materials removed from the leased site in the preceding month and make payment to the Laudloul of the royalty due Therefor by the IOth day of each month for materials removed in the preceding month Lease payments shall be made to the Landlord, Earl I3enneu, 1470 I liglnvay 50, Delta, Colorado 81416, as may be changed front lime to lime by Landlord. c $?,ROOAO which shall serve as an advance royalty and shall he a credit against the next royalty due to Landlord prior to extraction of any gravel pursuant to the Lease Agrcemem. I'USSf SSIUN. l~enant shall he cmided to possession on the fast day of the lean of this Lease, and shall yiclJ possession to Landlord on the last day of the term o(this Lease, unless ulhcnvise agreed by both parries in writing. Landlord warrant the title to the Properly together with any ingress, egress casements and unobstntcted access to the premises IISL UP I'ItLh11SP.S. Tenant may use the Premises only for extraction and processing o(gravcl i esutu ces within the property boundary. Including crushing, asphah production, and the storage of equipment ancillary to gravel and asphalt production The Premises may he used for any other P~~~Pose only with the prior written consent of Landlord. Tenant shall notify Landlord of any awicipatcd cxlr:uded absence from the Pi emises not later than the lust day of the extended absence. h1A1Nl'I[NANCH. 'tenant's obligation for maintenance shall include - the eanuol of dust - the giadmg ul'the haul n,utc Landlord's obligation fi,r maintenance shall include. - all nlha items of mainenance not specifically delegated to Tenant under this Lease lffll.l'flliS AND SHR\'IC6S Tenam shall be responsible for the following utilities and services in connection with the Premises: - electricity - garbage and trash disposal -telephone service Lmidlrn~d shall be responsible for providing adequate water required fnr gravel cnahing and asphalt production.