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~~_ CONTRACTOR'S AGREEMENT THIS AGREEMENT, made and entered into this 25th day of November, 1985, by and betweenJONE L. BURDICK hereinafter referred to as OWNER, and VASQUEZ BROTHERS STONE hereinafter referred to as CONTRACTOR, whether one or more, FOR and in consideration of the compensation, covenants, and agreements hereinafter set forth, to be paid, kept, and performed by the parties, it is agreed as follows: 1. Property and Term. CONTRACTOR'shall quarry rock from the following described land in the County of Larimer, State of Colorado, to wit: The SE 1/4 of the NW 1/4 of Section 31, Township 4 North Range 70 West of the 6th P.M.,County of Larimer and State of Colorado. for the period beginning November 25, 1985, to November 24, 1986. There shall be no implied renewal of this Agreement. No work done in the quarry for production after November 24, 1986 shall be consider®d ne such renowal. The term hereof can be extended or renewed by endorsement in writing herein, signed by both parties. 2. Royalties: CONTRACTOR shall pay OWNER as consideration for the right to quarry the described property a royalty on all rock removed from the premises during the period of this Agreement, in the sum of ten percent (108) of the gross receipts CONTRACTOR receives for the rock. Payment of such royalty shall be made no later than the 30th day of the month, in which quarrying has occurred, the OWNER at the Burdick home or to such other person or place the OWNER shall designate in writing to CONTRACTOR. CONTRACTOR shall submit weigh slips to the OWNER showing the amount of rock removed during the month for which payment is received. However, regardless of the amount of rock removed from the quarry, CONTRACTOR shall pay to OWNER a minimum royalty of 5500.00 for each year of this lease. 3. Duties of CONTRACTOR: A. CONTRACTOR shall quarry the premises in a diligent and workmanlike manner. CONTRACTOR agrees not to allow the premises to remain idle for a period exceeding six months and the said work shall be substantial in nature. B. CONTRACTOR agrees to be totally responsible for the maintenance of the roads traveled for purposes of this Agreement. CONTRACTOR agrees that it will keep all gates closed and locked and that CONTRACTOR will open no other roads without the written consent of OWNER. premises. C. CONTRACTOR agrees to do no blasting on the D. CONTRACTOR agrees to provide adequate sanitary facilities on the premises such that in the event any health authorities require such facilities. __ E. CONTRACTOR agrees to maintain all fences and gates in the present condition. F. CONTRACTOR agrees to obtain workman's compensation insurance on all employees or subcontractors who assist CONTRACTOR and agrees to indemnify and hold OWNER harmless for any damages or injuries suffered by such employees or subcontractors. •~ ~.