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SAND AND GRAVEL MINING AND ASPHALT PLANT LEASE <br />This S.~ND AND GRAVEL MINING AND ASPFIALT PLANT LEASE ("Lease") is entered into <br />this LO day of Sa ~`l , 20~ to become effective as of the date all necessary permits (the <br />"Permits") are obtained by the Tenant, by and between Byron R. Hilliard and Kristin Q. Hilliazd <br />("Lessor"), and ELAM CONSTRUCTION, INC., a Colorado Corporation ("Tenant"). <br />Recitals <br />Lessor owns certain real property in La Plata County Colorado, as more particulazly described in <br />Exhibit A hereto and incorporated by reference, for the purpose of mining, removal and processing <br />of soil, sand, gravel and aggregate materials from portions of the above described real property, and <br />for related purposes including, without limitation operation of asphalt plants ("Lessor's Property"). <br />Lessor desires to lease to Tenant and Tenant desires to lease from Lessor Lessor's Property and <br />related rights for the purpose of sand and gravel aggregate extraction and processing operations and <br />for operating an asphalt batch plant (the "Asphalt Plant") thereon. <br />Lease Aereement <br />NOW THEREFORE, for and in consideration of the royalties to be paid hereunder and the mutual <br />covenants and agreements set forth herein, the parties agree as follows: <br />1. Lease of Premises. Lessor hereby leases unto Tenant and Tenant hereby leases from Lessor, <br />upon the terms and conditions hereinafter set forth, a portion of Lessor's property, more <br />particulazly described in Exhibit A hereto, for the purpose of sampling, drilling and testing <br />for, mining, quarrying, excavating, removing and selling sand, gravel, overburden, shale, clay <br />and topsoil ("Sand and Gravel") from the Lessor's Property to the full extent authorized and <br />subject to the other terms of this Lease and the Permits. <br />2. Included Rights. Included in the rights granted Tenant hereunder aze the following exclusive <br />rights to the extent permitted by applicable government regulations, during the term of this <br />lease: <br />a The right to stockpile Sand and Gravel on the Property, and to use the Property for <br />processing plants, scale houses, crushing, screening, and washing plants, and storage of <br />related equipment. Lessor shall not be liable for loss of, or damage to, such stored items <br />b The rights to construct, install, operate, maintain and repair the Asphalt Plant, <br />foundations, storage and stockpile areas, roads and pazking azeas, offices, shops, <br />wazehouses and such other improvements as aze reasonably necessary or useful in <br />connection with the Asphalt plant. <br />c A right of access and ingress and egress on, over and across Lessor's property (within the <br />permitted area) and to and from the public road over the existing entrance road to the <br />Lessor's Property from CR 307. <br />