Laserfiche WebLink
.`~ <br />,Exli~i~ ~ <br />Gravel Mining Lease <br />This lease is made effective as of April ,2002, between James L. Pace and <br />Dorothy P. Pace, 603 Calle. De Cabbalos Drive, Pueblo West, CO 81007 ("Property <br />Owner'), ,and A. Blasi And Son Trucking and Earthmoving, Inc. doing business at 38043 <br />CR 32.4, Trinidad, CO 81082 ("Lessee"). <br />"Property Owner", in consideration of the agreements set forth in this lease to be <br />kept and performed by "Lessee", and of the payment of royalties by "Lessee" as provided <br />in this lease, and subject to the terms, conditions;iand provisions contained in this lease, <br />will provide "Lessee" a tract of land, situated in Hueifano County, Colorado for the purpose <br />of quarrying, mining, processing, removing, stockpiling,'and marketing alt sand, gravel,. and <br />rock located thereon, all of which are referred to in this lease as materials. The tract of land <br />leased hereunder is described as follows: <br />Being approximately 15 acres located primarily in. the S %: Section 2 Township 27 <br />South Range 65 West currently owned . by the "Property Owner", the precise location of <br />which will be verified by a registered survey to be paid by "Lessee": <br />TERM OF LEASE <br />This lease shall be in effect for a period of 2 years from its effective date. <br />Termination -Based On Profit: This lease may be terminated by "Lessee" at any <br />time upon 60 days prior notice, provided that in "Lessee's" -sole discretion, "Lessee" <br />determines that further performance of the lease will not be sufficiently profitable to <br />continue. <br />Option to Extend Term: "Lessee" shall have the option to extend the term for an <br />additional 2 year period. "Lessee" may extend the term of this lease by giving written <br />notice to "Property Owner" of "Lessee's" intent to extend the term. Such notice shall be <br />delivered to "Property Owner" either by certified mail, or by personal service, and such <br />notice shall lie delivered prior to the end of the initial 2 year term of the lease. <br />ROYALTIES <br />"Lessee" shall pay to "Property Owner" as royalty, seventy five cents ($.75) for each <br />ton of materials removed from the Property. The quantity shall be determined after the <br />materials are. loaded in trucks. An initial deposit of $10,000 shall be paid to "Property <br />Owner" said amount to be credited toward the amount of material to be removed from the <br />property., <br />