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1 <br /> <br />1 <br />1 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />~J <br /> <br /> <br />SAND AND GRAJEL LEASE <br />THIS LEASE, <br />January, 1977, at <br />between: <br />in duplicate, is dated this day of <br />Gunnison, Gunnison County, Colorado, <br />1. PARTIES. The parties to this Agreement are: <br />FRED GLASS and HAZEL J. GLASS, hereafter termed <br />"Glass", <br />and, <br />GUNNISON READY-MIX CONCRETE CO., INC., a <br />Colorado corporation, hereafter termed "Ready- <br />Mix". <br />2. LEASE OF PREMISES. For and in consideration of the <br />covenants herein set forth, Glass has leased and by these <br />presents does grant, demise and lease unto Ready-Mix the <br />following described real property situate in Gunnison <br />County, Colorado, to wit: <br />The real property set forth on attached Exhibit <br />"A" and incorporated herein by reference. <br />3. TERM OF LEASE. The term of this lease shall be for <br />a period to commence on the date of execution of this agree- <br />ment and to terminate on the date that the objects and <br />purposes of this lease have been accomplished. <br />4. RENTAL PAYMENTS. Ready-Mix shall pay to Glass as <br />rent for the leased premises the following: <br />' A. 51,000.00 per year, payable in advance on the <br />commencing date of this lease and annually thereafter <br />until all sand and gravel has been removed. <br />B. The sum of seventy-five (75) cents for each and <br />every ton of sand and gravel removed from the leased <br />premises. Such payments shall be made on the annual <br />' payment date of the lease for the prior year and an <br />accounting shall be submitted to Glass as to the tons <br />of sand and gravel removed. <br />' S. PURPOSE OF LEASE. <br />the leasedd pr~esnises for the <br />' gravel and quarry aggregate <br />the terms and conditions of <br />permit granted to Ready-Mix <br />Glass hereby leases to Ready-Mix <br />purpose of conducting a sand, <br />operation thereon, pursuant to <br />any mining and reclamation <br />to mine sand and gravel thereon. <br />6: RECLAMATION. Upon Ready-Mix removing all sand and <br />gravel from the leased premises in accordance with the <br />^ mining and reclamation permit, the leased premises shall be <br />restored and reclaimed in accordance with the terms and <br />conditions of said mining and reclamation permit. <br />7. TERMINATION. This lease shall terminate and become <br />~of no furt eTi -r force and effect upon the happening of either <br />of. the following conditions: <br /> <br /> <br />