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. ~. • ; iii iiiiiiiiiiiii iii <br />~ D ~~~ <br />n ~~ <br />AGR88Xffi3T ~ ~i°~~`i ~9 ~ y ~ ~Qj <br />,~l <br />This Agreement, dated this ~_ day of October, 1992, <br />his between the City of Golden, a Colorado municipal corporation <br />(~Golden~), and Mountain Aggregates, Inc., a Colorado <br />corporation ("MP,I'). t <br />&SCITALB <br />A. Pursuant to a Lease Agreement dated December 20, <br />1980 (the "DFG Lease), between Sally Ann Buckland <br />(~Suckland"), Paul Byron Guanella and Glenda Marie Guanella <br />(Guanella") as lessors and DFG Investment Company (to which <br />MAI is successor) as lessee, MAI leased, for the mining of <br />gravel and sand, portions of certain placer mining claims <br />located in Clear Creek County, Colorado, as more particularly <br />described on the attached Exhibit A (the ~Property~). MAI, <br />Buckland and Guanella have, concurrent with the execution of <br />this Agreement, entered into the Guanella Gravel Lease <br />Agreement covering the Property, in the form attached hereto as <br />Exhibit B (the "'MAI Lease). <br />B. Pursuant to an Agreement dated January 1, 1983, <br />between Paul Byron Guanella, trustee, as lessor and Golden as <br />lessee (the "Golden Lease), Golden leased the Property for use <br />as water storage reservoirs. The Golden Lease was placed of <br />record in Book 420 at page 569 of the real property records of <br />Clear Creek County, Colorado. <br />C. Subject to the terms and conditions set forth <br />below, the parties desire to enter into an agreement which will <br />facilitate MAI•s continued mining of sand and gravel on certain <br />portions of the Property pursuant to the MAI Lease, and <br />facilitate Golden's potential use of the gravel pits created by <br />MAI•s mining activities as water storage reservoirs. <br />For good and valuable consideration, the receipt and <br />sufficiency of which are hereby acknowledged, the parties agree <br />as follows: <br />1. Subordination of Interest. (a) Subject to the <br />provisions, covenants and conditions set forth in this <br />Agreement, Golden agrees to subordinate the Golden Lease to the <br />MAI Lease only as to the following portions of the Property for <br />the following periods of time: <br />