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Fxl G <br />03i14i'~002 0:59 303-5?6-9016 h1II;E CIUIhIL~^N - Pi;aE 02 <br />RE''~~~/ED , D <br />APa t 0 2002 ~ ~~ p~ <br />~pppiNioarabendceotogy REAI. PROP.ER'I'Y LEASE <br />By this ]ease, entered into on March 15, 2002, Randall L. Robins and Lou Ann Robins called <br />lessor, demises and lets to Robitts Construction Company, LLLP, called lessee, to occupy and <br />is use for a gravel pit operation and related extractive industry purposes, the following real estate <br />located in the County of Conejos, State of Colorado, described as follows <br />L.ot 2, also being known as the NW 114 of the NE1/4 of Section 3, <br />"township 32, North, Range 7 East: of the New Mexico Principe! <br />Ivleridian, [ess a tract of land, more particularly described as roliows: <br />Beginning of the Southeast corner of the NW 1/4 oT the NE1/4 of said <br />Section 3, thence West R5 yards 1 foot; thence North 89 yards 1 foot; <br />thence East b9 yards I foot; thence South 89 yards [ foot to the place <br />of Begituung as described in Book 163 at Page 36~ of Conejos County <br />Records, and consisting of approximately __~G _ acres. <br />1. CbRA4. "the term of this lease shall be from March 15, 2002, to March 15, 2007, and from year <br />to year thereafter unless written notice to terminate is given by either party to the other, at <br />least ;months prior to the beginning of the succeeding lease year. The provisions of ties lease <br />shall be binding on the heirs, personal representatives, and assigns of both lessor and lessee <br />in like manner as upon the original parties, unless modified by mutual agreement. <br />:. RENTAi, AA4OUN'I', Lessen agrees ro pay lessor, as annual cash rent.for the above-described <br />prnpetYy, yearly installments of $10,000 each. The Yirst instalhnent is to be paid on March 15, <br />200 ~, and the other installments are to be paid on each yearly anniversary date thereafter. <br />3. LESSEE DliTIE5 AND OBLIGATIONS. Lessee agrees to perform the duties and obligations <br />and to pay the items of expense, listed below: <br />A. Provide all the machinery, equipment, and labor necessary to perform operations. <br />B. '1•o faithfully use the property in a safe and proper manner. <br />C. At the termination and vacation of this lease to restore and rehabilitate the properly in <br />as good of condition as it is at the conunencement of the tease. <br />U 'f o prevent all unnecessary waste, or loss, or damage to the property of lessor. <br />E. Not to assign this lease or sublet any part of the premises without the written <br />