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.. - <br /> <br />OUNTAIN <br />RAVEL & CONSTRUCTION CO. <br />BOX 788 • DOLORES, COLORADO 81323 <br />303-882-7232 <br />February 8, 1983 <br />AGREEMENT ~ <br />The following is an agreement between Lloyd Wallace, Box 1178 <br />Cortez, Colorado, 81321, hereinafter referred; to as owner and Mountain <br />Gravel & Construction Co., Inc., hereinafter referred to as the operator. <br />It is hereby agreed that the owner grants the operator the right <br />to mine, crush, stockpile and remove gravel from the property which <br />is in the S~, SW',,, Section 13, T 37 N. R. 15 W.-NMPM. <br />The owner also grants the operator the right to use the existing <br />road which provides access to the property. The operator agrees to <br />gravel and maintain this road in conjunction with the other users <br />of said road. <br />It is further agreed that the operator will pay the owner $ .20 <br />per ton or $ .30 per cubic yard. Owner hereby acknowledges an advance <br />royalty payment of $2500. to be applied towards the per ton or per <br />cubic yard units. As this advance of $2500, is depleted upon removal <br />of a like amount of material., the owner will make monthly payments <br />on or before the 15th of each month for the amount removed the previous <br />month. <br />The operator will obtain the necessary permits and maintain the <br />permitted pit area in accordance with Colorado Mined Land Reclamation <br />Board requirements. <br />Peter Ballode, Vice President <br />• MOUNTAIN AVEL jCONST/RU//'C/T/I/O+N CO. <br />oyd 1 ac'e <br />State of Colorado <br />County of Montezuma <br />The above and foregoing instrument was executed and acknowledged <br />before me by Peter Ballode who affirmed t a he is the Vice President <br />of~~~ ain Grav & onstruction Co. an Lloyd Wallace this <br />-{~=- day o .~~~ 1983. <br />Notary Public <br />My Commission Expires <br />March 23, 1983 <br />