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.;;~!~;, :t... SLB 259 Rev. 5/89 STATE OF COLORADO State Boazd of Land Commissioners Department of Natural Resources SAND AND GRAVEL LEASE NO. GL 261 ®~f~VEFi ,,,,`^~r @C@IVC~ ~~~ ~ 3t 1995 Durango. F'~eld ON'ze Division of Minerals 8 Geology TH(S LEASE, Made in duplicate and entered into on this 4th day of nu r 1995 , by and between the STATE OF COLORADO, acting through its State Boazd of Land Commissioners, hereinafter referred to as "Lessor", and Noland. Inc. n O Sux 302. biancris CC 51328 hereinafter referred to as "Lessee": WITNESSETH- Lessor, for and in consideration of the sum of six hundred sixt~and no/100 Dollars ($ 660.00 ), receipt of which is hereby acknowledged as payment of filing fee in the amount of $ 20.00 ,and first yeaz's rental in the amount of $ 46 0.00 ,and in further consideration of Lessee's agreement to make payments of rental annually on or before each anniversazy date during the term of this lease in like amount so long as said lease shall remain in effect. In further consideration of the covenants and agreements hereinafter mentioned, to be kept and performed by Lessee, its successors and assigns, Lessor has demised and leased to Lessee the right and privilege of taking alluvial sand and gravel and interbed sandy clay (bedrock clay stone and/or sandstone excluded) from the lands hereinafter described, situate, lying and being in the County of . Diontezuma , and the State of ' Colorado, to-wit: ACRES 320.00 FUND: School SUBDIVISION W/2 SEC.TWP.RGE. 36-36N-14W PATENTS Yes containing 320.00 acres, more or less, together with the right to use as much of the surface thereof as may be reasonably required in the exercise of the righu and privileges herein granted, subject to existing rightsof-way and the rights of surface lessees of said premises. RESERVING, however, to the State of Colorado: A. The right to use or lease said premises or any part thereof at any time for any purpose other than and not inconsistent or interfering with the rights and privileges herein specifically granted. B. The right at all times during the life of this lease to go upon said premises and every part thereof, for the purpose of inspecting same, and the books of account and records of workings therein; end • of ascertaining whether or not Lessee and those holding thereunder by and from it, are carrying out the terrns, covenants and agreements in this lease contained. ~,: .