GENERAL38135

• Permit No: M1980110
• IBM Index Class Name: General Documents
• Doc Name: EXHIBIT O
• Media Type: D
• Archive: No

4. The Company will commence mining operations as soon
as practicable. The Company in the course of the extraction
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of sand and gravel and other minerals, will abide by all laws
and regulations of the State of Colorado and of Adams County,
Colorado.
.
5. The Company will pay to Henderson a royalty of
for each ton of material extracted and sold.
The Company will provide suitable state certified scales to
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properly weigh all material sold by the Company.
6. The Company shall make payment of royalties to
Henderson on a quarterly basis commencing
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for the period from the beginning of the operation through
and thereafter on
• and for the respective quarters and quart-~
erly thereafter. Should the 1st day occur on a Saturday, Sunday,
or holiday, such adjustments shall be made on the next succeeding
• business day.
y
7. Henderson agrees to construct the permanent fencing
on the subject property and to obtain the necessary fencing
permits, if required. The Company shall construct any tempor-
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ary fencing required for the project.
8. This Agreement shall continue for a period of
from this date and shall be renewable at the
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option of the parties for additional year periods until
the property has been completely mined for sand and gravel,
whereupon, with the occurrence of that event, this Agreement
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shall terminate.
WITNESS our hands and seals the day and year first
written above.
I•
DEVELOPMENT COMPANY
COLORADO SAND AND GRAVEL COMPANY
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BY
Dale Gummersa
By
John J. Haines
Hy
Russ Tueller Plowman
By
Phil J. Spano
By
Phil Spano
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