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18/14/2002 00:15 7194714629 OFFICE DEPOT 456 PAGE 02/07 <br />SAND AND GRAVEL. LEASE <br />P S: <br />The parties to this agreement ttro David W. Boyer, Jr. and the David and Mary Boyer <br />Charitable Trust. do David W. Boyer, Jr., and Mary M..Boyer, Trustees, as "Lessor", and iereid <br />tettattes~ereaormtron-ef W ' S ~~.1~ . Cobrado, as "Lessee.,. <br />PU1tpOSE; <br />The Lessor is the owner of certain tea] estate located in Custer Couaty, Colorado which <br />has dtposits of sand, gravel, rock, topsoil and aggregate which the Lessor has agreed to leas: to <br />tha Lessee for the purposes or removing, processing and selling the same is the genera] <br />bttsi8tirssbf sand, gravel and aggregate production and sales. The Lessee desires to lease the <br />property for such purpose artd the purpose of this Agreement is to set forth t!re terms a~ <br />cot-ditions of the lea_sc. <br />R1lGHT TO REMOVE PROAUCi'$: <br />In ebneidetation of the payments hetinttfter provided, the Lessor hereby leases unto <br />Lessee the following desctx'hed premises tteguoning oa rite <br />2002 for a <br />term of five (5) years utrtil the 2007, with the preferential right of <br />renewal in the Lessee to lease the pternises for an additional period offivc (5} years as follows: <br />Lessee shall give notice of the request to renew the Lease not less than silly (60) days <br />prior to the expiration of the initial terra Lessor shall cotttmunicate to Lessee not less than thirty <br />(30) days prior to the expiration of the initial term, the terms and cotditions for a renewal period <br />offive (5) years upon which the Lessor would lease the same to Lessee. <br />In the event that the parties cannot reach agreement to renewal prior to expiration of the <br />tease, Lessee shalt waive his right to lease this property and Lessor shall be free to seek anther <br />party to tease the property, <br />PROPERTY: <br />The property which is the subject of the Lease is described on a trap attached hereto end <br />is generally heated within the West One-half of Section 5 and the Bast One-half of Section ti, <br />Township 24 South, range 71 West of the ti'" Principal .Meridian, County of Custer, State of <br />E.,~e~~' <br />