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G III III III III IIII III `/ ti/ 999 GRAVEL PIT AGREEMENT DATE: <,(M,~_oZb~ ~9~ , This agreement is between Fern and Keith Holsinger, owners of the gravel pit known as Holsinger Gravel Pit, and A & S Construction Co., known as the leasee. LEGAL DESCRIPTION: Tract A: A tract of land situated in the North- west ,'-, of Section 2 and in the Northeast v of Section 3, Township 8 North, Range 79 West of the 6th P.M., Jackson County, Colorado, Which considering the South line of the Northeast o of said Section 3 as bearing N 89° 36' 03" W and with all bearings contained herein relative thereto is contained within the boundary lines which begin at the East 4 corner of said Section 3 and run thence N 89° 36' 03" W 781.86 feet along the said South line; thence N 31° 05' S0" W 559.50 feet; thence S 89° 36' D3" E 922.39 feet to a point on the Westerly line of the Old S.C. Ditch; thence along said Westerly line S 27° 50' 30" E 259.96 feet and again S 35° 17' E 175.99 feet and again S 22° 49' S0" E 114.38 feet to a point on the South line of the Northwest v of said Section 2; thence N 89° 36' 03" W 119 feet to the point of beginning, containing 9.9958 acres, more or less, and being subject to a right of way for a power line as it now exists. Fern and Keith Holsinger hereby agree to give exclusive rights to the above described gravel pit to A & S Construction Co. for 6 months, however, the Holsinger's or any one designated by the Holsingers may use the gravel pit as long as it does not impede or restrict the operation of A & S Construction Co. A & S Construction Co. will pay .50 cents per ton royalty for aggre- gate taken from the above described pit and weighed by A & S Con- struction C. A monthly accounting of tons removed from the pit and payment of royalties will be made on the 1st of each month. Royalty payments will be based off of Colorado Department of Highways pay quantities or certified scale tickets.