PERMFILE102976

• Permit No: M1987131
• IBM Index Class Name: Permit File
• Doc Date: 8/6/1987
• Doc Name: REGULAR 112 PERMIT APPLICATION FORM
• Media Type: D
• Archive: No

EXHIBIT O
SAND AND GRAVEL MINING LEASE

J
A LEASE made and entered into this day of
1986 by and between RUBY B. MAC
KENZZE, ANN MACKENZIE EMMERSON and JEAN MACKEN2IE COLON,
whose address is 1340 College Avenue, Canon City,
Colorado 81212 (herein the Lessor), and R.E. MONKS CON-
STRUCTION COMPANY, a Colorado corporation, whose address
is P.O. Box 25579, Colorado Springs, Colorado 80936
(herein the Lessee).
LESSOR, in consideration of the payment of the sum
of Five Thousand Dollars and the agreements set forth
herein to be kept and performed by Lessee, including the
payment of royalties by the Lessee as provided herein,
and subject to the terms, conditions, and provisions
contained herein, Lessor leases to the Lessee that cer-
tain tract of Land situate in Fremont County, State of
Colorado, which is described in Exhibit "A" attached
hereto and made a part hereof (hereinafter referred to
as the Property) for the purpose of quarrying, mining,
removing, and marketing therefrom all sand, gravel, rock
and overburden, (hereinafter referred to as the
material), but not including other minerals or topsoil.
Lessee shall also have the right to use the Property for
scale houses, sales offices, crushing and screening
plants, storage of related equipment and to use existing
roads on the Property as well as to build such addi-
tional roads as may be necessary for the conduct of its
operations.
1. Term of Lease. This lease shall be in effect
for a period of ten years from the date hereof, or until
it becomes economically unfeasible to continue sand and
gravel mining operations, whichever first occurs.
Determination of "Economically Unfeasible" shall be at
Lessee's sole discretion and upon written notice
thereof, Lessee shall have no further liability here-
under. Lessee shall have the right to surrender this
lease at any time before the expiration of ninety days
from the date hereof if exploration of the Property
discloses a lack of material of sufficient quality and
quantity to make the contemplated operations of the
Lessee feasible. Subject to the foregoing exception,
Lessee shall commence its operations within one year
from the date hereof. Lessee shall also have the right
and option to renew this lease for one additional term
of ten years at the expiration hereof, and in the event
it shall desire to renew this lease it shall give Lessor
written notice of its intention to do so at least six
months prior to the expiration of the original term.