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• _Zq_ <br />' SAND AND GRAVEL <br />LEASE AGREEMENT <br />THIS AGREEMENT made and entered as of th date of <br />' execution hereof, by and between /,.~~a-,~.;',._~ ~_„~.( ~ ~/~/,~~~r,~ <br />of _~(,<~, __ y, ,. r( (~ C hereinafteY <br />referred to as "Lessor" and BACA COi9NTY, COLORADO, <br />hereinafter referred to as "Lessee". <br />WITNESSETH: <br />' Lessor, in consideration of the agreements set forth in <br />this lease to be kept and performed by Lessee, and of the <br />payments by Lessee as provided in this lease, and subject to <br />' the terms, conditions, and provisions contained in this <br />lease, leases to Lessee a tract of land located in Baca <br />County, Colorado, which is described in Exhibit A, attached <br />to this lease, for the purpose of quarrying, mining, <br />' screening, and removing all sand, gravel, rock, and clay, <br />all of which are referred to in this lease as material. <br />~' 1. This lease shall be in effect for a period of <br />TEN (10) years from July 1, 1992 to <br />December 31, 2002. Lessee shall have the <br />' right and option to renew this lease for an <br />additional period of THREE (3) years. <br />2. Lessee shall pay to Lessor monthly $.25 per yard <br />' for material removed from the property. <br />Lessee shall maintain accurate records of the <br />quantity of material removed from the premises and <br />' make the records available for inspection upon <br />Lessor's request. <br />3. This lease may be amended or terminated prior to <br />' the end of the term only by written agreement <br />signed by both parties. <br />' 4. This lease shall inure to the benefit of and shall <br />be binding on the heirs, legal representatives, <br />successors, and assigns of the parties. <br />1 <br />