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saleable Sand 5 Gravel has been removed from property. Reclamation shall in all
<br />cases be substantially complete within eighteen months after termination of
<br />excavation of Sand b Gravel. "Substantially complete" shall mean that all fill
<br />and contouring work shall have been completed, that (subject to seasonal
<br />limitations) all planting of ground cover and other vegetation has been
<br />performed, and that Lessee is working diligently to monitor growth of vegetation
<br />and perform any other monitoring required, and is diligently working to obtain
<br />release of reclamation financial warranties. The period commencing on the
<br />commencement date of this Lease through and including the date on which this
<br />Lease is terminated is referred to hereafter as the "Term. "
<br />3. Excavation and Removal Operations. Lessee shall have the right to mine,
<br />remove and sell sand and gravel, overburden, shale, clay, and topsoil from the
<br />Property(herein known as "Sand s Gravel"). Lessee shall plan and execute its
<br />mining and processing activities in a prudent, workmanlike manner in accordance
<br />with accepted practices in the sand and gravel mining industry in the State of
<br />Colorado and the regulations of the Mined Land Reclamation Division of the
<br />Department of Natural Resources of the State of Colorado (the "Division"} in
<br />order to produce the maximum amount of economically saleable Sand s Gravel
<br />products reasonably producible.
<br />3.1. The Lessee shall retain on the Property sufficient topsoil or other
<br />such materials to assure meeting all reclamation requirements
<br />3.2. During the Term of this Lease and as otherwise expressly allowed
<br />herein, Lessee shall have the right to install, construct, operate, maintain,
<br />dismantle and remove on or from the Property all of its plants, machinery,
<br />equipment, improvements and other facilities including, without limitation,
<br />roads, rail lines, pipelines, power lines, telephone lines, water courses, dams,
<br />ponds and stockpile areas on the Property aad otherwise to use and occupy the
<br />Property, all as reasonably required in connection with mining, quarrying,
<br />extracting, processing, storage, sale and removal of Sand & Gravel in, on, under
<br />or from the Property. Lessee shall maintain the mining area in a reasonably neat
<br />and orderly condition consistent with the operation of an efficient gravel pit.
<br />Lessee will conduct its operations so as not to damage Owner's ditches, wells,
<br />culverts, utility lines or access roads, normal wear and tear, with customary
<br />maintenance, excepted.
<br />3.3 Mutual Exclusivity. Owner warrants that during the term of this
<br />lease, the Owner shall not excavate and sell Sand 6 Gravel or cause the same to
<br />occur on any part of the More Family Ranch or any other property the More Family
<br />Ranches, LLC. In the south valley floor.
<br />The Lessee warrants that during the term of this lease, the Lessee shall
<br />not excavate and sell any material of a like and similar nature to that which
<br />occurs on the Property within an area of the South Valley Floor defined as the
<br />area bounded by the current southern city limits of Steamboat Springs on the
<br />north, Stage Coach Reservoir on the south, and five miles on both sides of the
<br />Yampa River.
<br />3.9 O~erational_COnsideration. It is mutually agreed that the Lessee, to
<br />the extent reasonably feasible, will reduce adverse impacts to More Family
<br />Ranch.
<br />3.5 DISPLAY OF SIGNS, SHOWING AND SALE. Lessee shall have the privilege of
<br />displaying signs on the Property.
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