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<br />1 <br />T FA,4 A *RFEMFNT <br />THIS LEASE AGREEMENT is made and executed as of the i`i day of F,~~.~~-nt; ~,' <br />' 1998, between the Richard NI. Frazier and Betsey A. Frazier Revocable Trust, whose address for <br />purposes of this .4ereement is 1959 Highway 92, Delta, Colorado 31416 (referred to as "Lessor"), <br />and Delta Paving Limited Liability Company, whose address For purposes of this Agreement is ?858 <br />' Higlnvay 6&24, Grand Junction, Colorado 31 d01 ("Delta Paving"). <br />RFC'IT 4LS <br />A. Lessor is the owner of real property, including all interest in the sand, gravel, and <br />mineral rights, located in Delta County, Colorado, described as follows: <br />' See Exhibit A, attached hereto and incorporated herein by reference. <br />(the "Frazier Property"). <br />' B. The parties desire to enter into this lease for the purpose of allowing Della Paving to <br />' extract sand and gravel from the Frazier Property, and undertake other activities on the Frazier <br />Property, on the terms and conditions set forth below. <br />' A('rRFEMENT <br />1. Lessor hereby leases the Frazier Property to Delta Paving and grants to Delta Paving <br />the exclusive right to and possession of the Frazier Property for the purpose of extracting, hauling, <br />' processing and stockpiling sand, gravel, and related materials, and for the placement and use of <br />' crushers and other equipment used in connection with the extracting, hauling, processing, and <br />stockpiling of the sand and gravel. Delta Paving may realign any existing roadways on the Frazier <br />1 Property, and create other roads on the Frazier Property, as necessary for its operations, for hauling <br />' D:`MnH`G1P1PE•.FRAZIER\GRAVIEAS VS <br />\' <br />