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• ~~ <br />TFIIS ~tGREEMENT is made and entered into this ' , "day of _, <br />2005, by and between Margaret Hale, "Letisor", and Western Gravel, loc., "1 .. see <br />vnitrtcsseth; <br />1. !n consideration of the rent as hereinafter reserved and of the terms and conditions herein <br />stated, :Lessor hereby leases to Leascc the following described real prapc;rty situate in the <br />County of Montrose acrd 5tali: ol'Colnrado, to wit: <br />S'/~ SE 114 SF.CTI4Id 24, TQWNSt17Y 49 NURTIl, RANr:,F 8 WEST, Nlv[l'M <br />• <br />2. T.csseC ,shall mine sand and gravel from the above duscribed area. The mining olxrativns <br />shall be conducted by Lesscc in the manner customary to similar operations in the area. <br />3. This agn~eement shall be for a period of live {S) years Liam this date, ending and <br />termitttrting at 12'00 noon on e~~ w,C ~ ~ o unless sooner <br />lertnina'+led as hereinafter provided. D~Ag eae t yraz of this lease, l.essec shall pay to <br />Lessor, in advance, a royalty of oat less than $ ] 2,000.00 whether' or not the equivalent <br />sottd artil grave] is mined. <br />4. lessee agrees to move whatever equipment is necessary upon the premises above <br />tlescribe~d to mine sand and gravel from said premises iu accordance with the exists n0 <br />Cohn-ado Mired Land Rcclatnation Yit Permit covering the teased land. <br />5, It is uudcrstwd artd agrY:ed that the royalty shall he 75 ceni5 per ron. 'Phis agreement <br />shaIl be renewed annually, and the royalty rate adjusted to reftect the prevailing market <br />rate. Records of volumes of materials produced and removed from said premises arc iu <br />be kept by Lessee on a daily load count basis. A copy of such summary will be available <br />upon request. Lessor shall at al l tunes have a lien on all sand and gravel stored on the <br />pretttisa~ as saCUrily Poe any unpaid balance of royalties. <br />6. izssor vrarrants that she has geed title to the above described premises and lawful right <br />and authority w enter infi this Agt'eemeut with Lessee to remove sand and graves <br />therefrotn. Lessee shall have the exclusive rghl w remove sand and gavel from the <br />above de;soribed premises during the tetu~ of this lease, <br />l.cssee agrees to fumi.sh Lessor with an itemized sumutary showing all sand and gravel <br />removed from the above d~vxibecl premises each u+lendar month. Such summary stroll <br />show all such materials so trmovcd each day ar~d paytncnt shall 6e made by T.essee by the <br />10" day ofthc calendar munch tirllowing. Duct control will be provided as per County <br />regtilations. <br />8. Lessee e'.tpressly egrets that it will furnish public liability sad property damage lnsur2nce <br />on all vehicles used in the transportation to haul sand and gravel out of said premises and <br />I~ <br />