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• AUG 1 01989 <br />~~~ of Mineral ~~~~ <br />LEASg AGREBMENT VPITH <br />OPTION TO BVY MATTRIAL <br />THIS AGREEMENT is made and entered into this 22nd day of <br />May, 1997, by and between the Owner(s): Robert W. and Betty <br />L. Burton, whose mailing address is: 19190 County Road 15, <br />Del Norte, Colorado, 81132, and Southway Construction Co., <br />Inc. whose mailing address is 117 White Pine Dr., Alamosa, <br />Colorado, 81101, hereinafter referred to as the Company. <br />WITNESS THAT: The Owner(s) for the consideration of <br />dollars ($ ) and further agreements <br />hereby leases to the Company an exclusive option for the <br />purpose of purchasing, processing, producing, and removing <br />such material located on land described as follows: <br />N 1/2 n 1/2 SW 1/4 of Section 19, Township 40 North, <br />Range 6 East, N.M.P.M., Rio Grande County, Colorado. <br />In the event the Company desires to purchase any materials <br />located on the above. described land, the Owner(s) will be <br />paid a royalty fee at the following rate: <br />Rip Rap at $2.00 per Ton <br />Aggregate Products at $0.50 per Ton <br />Aggregate Products at $0.75 per Cubic Yard <br />This Lease Agreement with Option To Buy Material shall <br />commence on the day of this agreement and remain in force for <br />a term of five (5) years, terminating on the 22nd day of <br />May, 2002, at 12:00 noon. <br />It is further agreed that the Company has~the option to renew <br />this agreement for another like term and conditions as stated <br />within this agreement. <br />The Company shall have the right of ingress and egress to and <br />from the subject premises and to erect any temporary <br />structures, such as screening, crushing, and/or asphalt or <br />concrete plants; to stockpile material in an area of <br />sufficient size; and to employ any reasonable methods for the <br />removal of said material. Colorado Mined Land Reclamation <br />rules and regulations apply. <br />