Laserfiche WebLink
<br />• the purposes of quarrying and removing its construction material from the severed mineral estate, <br />and Lessor desires to receive monetary payments, to which he is entitled, as hereafter defined, <br />from Lessee for use of its access rights and surface use on and across the Starks Quarry Parcel <br />and for access to Lessee's mining operations for the production of the described construction <br />material in, on and under the demised premises. <br />DEFINITIONS <br />For purposes of this Lease the following definitions are applicable: <br />"Construction Material" means sandstone, dimension stone, and building stone extracted <br />for use in the production ofnon-metallic construction products. <br />"Mining" and "Quarrying" mean extraction of construction material from the surface and <br />subsurface. <br />"Mining Operation" and "Quarrying Operating" mean the development or extraction of a <br />construction material from its natural occurrences on the demised parcel. The terms include, but <br />are not limited to, open mining and quarrying and surface operation, storage, processing <br />operations and transportation of construction material on the demised premises. <br />"Open Mining" means the mining of materials by removing the overburden lying above <br />such deposits and mining directly from the deposits thereby exposed and mining directly from <br />such deposits where there is no overburden, including, but not limited to, such practices as open <br />cut mining, open pit mining, slip mining and quarrying. <br />• "Operator" means a person or legal entity engaged in or controlling a mining operation <br />including the reclamation of the demised premises. <br />"Reclamation" means the employment during and after an operation of procedures <br />reasonably designed to minimize the surface disruption from the operation and to provide for the <br />protection of the surface of the demised premises by measure appropriate to the beneficial use of <br />the demised premises by the LESSOR. <br />AGREEMENT <br />Lessor, in consideration of the agreements set forth herein to be kept and performed by <br />Lessee, and of the payment of compensation by Lessee as provided herein, and subject to the <br />terms, conditions, and provisions contained herein, leases to Lessee that certain parcel of land <br />situated in Larimer County, State of Colorado, to wit: the "Starks Quarry Parcel," which is more <br />particularly described in EXHIBIT C, "Legal Description," attached hereto and made a part <br />hereof, for the purpose of quarrying, mining, removing, and marketing therefrom all of the <br />construction material as herein above defined. <br />TERM OF LEASE AND RENEWAL OPTION <br />This Lease shall be in effect for a period of twenty five (25) years from January 1, 2002, to <br />December 31, 2026 ("Initial Term"). Lessee shall have the right and option to renew this Lease <br />