Laserfiche WebLink
4. This lease shall be effective from the date as hereinabove set forth for successive <br />periods of one yeaz and shall be automatically renewed unless either party objects to said <br />renewal at least thirty days prior to the expiration of the first yeaz's lease. <br />5. Lessee shall pay to Lessor, as royalty, $ 0.50 (cents) for each cubic yard of materials <br />removed from the property. Lessee shall forward to Lessor monthly reports showing the quantity <br />of materials removed during the proceeding month, according to truckloads, with a detailed daily <br />log or schedule of loads taken from the pit. Each preceding monthly log or schedule sheet shall <br />be accompanied with a check from the Lessee to the Lessor for payment of the preceding <br />month's material extraction. <br />6. Lessor agrees and understands that Lessee may cleaz brush and undergrowth from <br />such portions of the leased property as may be reasonably necessary to explore for materials and <br />/ or to locate pits, quarries, and / or stockpile materials. Lessees shall have the right to make use <br />of all roadways presently existing on the leased property, and shall fiuther have the right to <br />construct such additional roads as may be necessary for the production and removal of materials. <br />7. in digging pits for the purpose of producing and removing materials, Lessee agrees to <br />make sepazate stockpiles of topsoil and of discarded or unwanted waste debris. Lessees agrees <br />that on the completion of the removal of materials from the pits or the termination of this lease, <br />whichever occurs first, Lessee will place any unused material, discazded or unwanted waste <br />debris stockpiled and / or used for roadways back into the existing pits from which they were <br />removed, and place the existing stockpile of topsoil over those said materials. Lessee further <br />agrees to back-slope any and all pits created pursuant to this lease. The restoration of the surface <br />shall be in accordance with the rules and regulations promulgated by the Mined Land <br />Reclamation Board of the State of Colorado. <br />8. This lease shall be non terminable during the aforementioned term by the Lessor <br />except for any default in the terms and conditions agreed to herein by the Lessee. In the event of <br />any default in the performance of any term or condition of the lease by Lessee, Lessor shall be <br />required to give a 30 day notice in writing to Lessee,.demanding the correction or removal of <br />such default. In the event Lessees fails to correct or remove such default within 30 days after <br />receipt of notice, Lessor may, at his option, temrinate this lease. <br />9. This lease shall inure to the benefit of and shall be binding upon the heirs, legal <br />representatives, successors and assigns of the parties hereto. _ <br />10. This lease agreement is the entire agreement between the parties with respect to the <br />subject matter contained herein and supersedes any verbal understandings and prior agreements <br />between the parties hereto. No alterations, modifications, or revisions to this agreement shall be <br />binding on either party unless in writing and signed by both parties. <br />11.This lease agreement shall be interpreted and construed in accordance with the laws of <br />the State of Colorado. <br />12. Neither party may assign or pledge any of its right, title, or interest in this agreement. <br />If either party attempts to make such an assignment without the knowledge of the other party, <br />that party shall nevertheless remain legally responsible for all obligations under this agreement. <br />2 <br />