REV102814

• Permit No: M1985129
• IBM Index Class Name: Revision
• Doc Date: 9/12/2001
• Doc Name: LEASE AGREEMENT GRAVEL PIT
• Type & Sequence: AM1
• Media Type: D
• Archive: No

• ',
7 08/02/i 88 10:44A BSBO P702 LSERGR
-oF 6 R 0.00 D 0.00 N 0.00 Elb~r•t, Ceunt:y CO
additional years upon the terms and conditions herein contained. Such option shall
automatically be exercised unless Lessee notities Lessor in writing of its intent trot to renew.
2.4 The rights of Lessee hereunder shall he exclusive in the sense that the Lessor, its
heirs, successors :tnd assigns, will not grant to anyone rise the privilege of rcmcrving gravel from
said tract of land during the period hereof.
2.5 Covenant of Quiet Enjoyment. Lessor agrees to hold Lesscc harmless from the
claims of any other parties claiming right (including sand, gravel attd ntitteral rights) tx title
better than the right or title held by Lessor to said premises.
3. CONSIDERATION.
3.] Lessee shall make payment of royalties to Lessor at the address designated
hereafter computed as follows:
A. Lcsscc shall pity 0.35 cents per ton for all gravel removed from the leased
premises until December 31, 1998. As of January 1. 1999, the Lessor shall pay U.50 per ton.
B. No royally shall he payable to Lessor unless and until material is removed
from the Leased Premises. Lessee shall weigh or meacurc all material and shall provide Lessor
with a written statement (including copies of daily scale tickets or computations of measurement,
if requested) as to all materials removed from the Leased Premises in the preceding month and
make payment to Lessor for the royalty due therefore by the 15th day of cash month For
tnatcrial removed in the preceding month. Payment for such royalty shall be by County Warrant
to the Order of Lessor unless otherwise directed in writing by Lessor az a time subscyucnt
Iteretu.
3.2 Lessee further agrees to use rcasonahle efforts set aside or reserve up to 5,000
tons of gravel per year (July 1 -June 3U) for purchase by Lessor or its agent or auigns at
Lessee's rate to public purchasers. Such reserve of material shall not he cumulative, meaning
that any unused reserve shall not be carried ewer into future years. Lessee's obligation to
reserve gravel for Lessor is contingeul upon Lessor's giving Lessee notice on or before March
1 and August l of its gravel needs. Lessor shall hr ohlig:tted to pay for gravel reserved and not
picked up within 90 days of March 1 or August 1, unless Lessee is able to sell such non picked
up gravel to the public during that year. This contract is subject to the annual appropriation
of funds by the County for a gravel operation at this location.
4. REMOVAL OF EQUIPMENT AND li\4PROVEMENTS. Upon termination of
this Lease Agreement for any reason, Lessee shall remove all such personal property and
improvements within sixty (6U) days after termination, and if Lessee shall fail to do so remove
the said property, Lessor may have the personal property and improvements removed from the
Leased Premises at Lessee's expense, providing Lessor gives Lessee prior written notice of such
intent to remove.