REV100631

• Permit No: M1985129
• IBM Index Class Name: Revision
• Doc Date: 3/1/2002
• From: DNR
• To: ELBERT CO ROAD & BRIDGE DEPT
• Type & Sequence: AM1
• Media Type: D
• Archive: No

i / ~
4
1 r,f C .01 D 0.00dN 0.00 Elbert Counly CO
LEASE AGREEMENT
(Gravel Pit)
THIS LEASE AGREEMENT is made and entrred into this 15th day ot'July, 1998 by and
between M&M Land Cu., Ltd., a Texas limited partnership, hereinafter referred to as "Lessor",
and the Board of County Commissioners of Elhert County, hereinafter referred to as "Lessee".
RECITALS:
WFIEREAS, Lessor is the owner of approximately 1 QO acres ot'real property ("Premises")
located in Elbert County at 25295 Elhcrt County Road 25-41, and more specifically described
in Exhibit A, which exhibit is attached hereto and incorporated herein;
WHEREAS, Lesscc currently mines gravel under Pertttit No. M-85-129 and by written
lease dated January 23, 1991 and assignment dated July 15, 1993, front Lessor on a portion
of the Property;
WHEREAS, Lessor and Lcsscc desire to enter into this Lease for the purpose of
continuing to mine grave[ an the Property according to tho terms herein stated, which Lease and
terms shall replace the above Icase dated January 23, 1991.
In consideration of the mutual covenants herein recited, it is agreed as follows:
1. PREMISES LEASED -PURPOSES.
I.1 Lessor hereby leases and grants to Lessee the exclusive right to extract, process,
stockpile and remove gravel and ruck cobble from the Premises above described. Lessor further
grants to Lessee an easement t'or ingress and egress necessary to operate a gravel pit on the
Premises. Lessor agrees to continue providing the necessary cr>nduits and other facilities
necessary for Lessee to supply electricity to the Premises. Lcssce shalt promptly pay all charges
fur utilities furnished to the Premises.
1.2 Lessee agrees to maintain in good standing at ttll times the required permit From
the Colorado Mined Land Reclamation Board which permit is now in place,
2. TERM OF LEASE.
2.1 The effective date of this lease shall he 7uly 1, 1998 and shall extend according
to the terms herein fur a primary period of ten (10) years thereafter, with option to renew as
described below.
2.2 If the leased lands are subscqut:ntly sold by the Lessor to another party, then the
new owners will abide by aft the terms and conditions of this Lease and execute a new Lease
with the Lcsscc with the same terms and conditions as herein described.
2.3 Conditional upon the faithful performance by Lessee of its covenants herein
recited, Lessee is hereby granted an option to renew this Leash Agreement for five (S)
RECEIVED
MAR 0 t 2002
Division of Minerals and Geology