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SLB SETTLEMENT OF. <br />(6/80) • * (Check one) <br />Paragraph 5-A _ <br />Paragraph 5-B <br />STATE OF COLORADO <br />State Board of Land Commissioners <br />Department of Natural Resources <br />Denver, Colorado 80203 <br />PERMIT FOR REMOVAL OF ROAD OR CONSTRUCTION MATERIAL FROM STATE LAND <br />Permit No. 241-5 <br />THIS AGREEMENT, Made this 28th day of March 19 83 by and between the <br />STATE OF COLORADO, acting through its State Board of Land Commissioners (hereinafter <br />referred to as "Owner"), and Colorado Department of Highways <br />P.0. Box 850, Gree ey, o ora o <br />, <br />(hereinafter referred to as "Purchaser"): <br />W I T N E S S E T H <br />That the Owner, for and in consideration of the sum of Fifty and No/100 - - - - - - <br />Dollars ($ 50.00 ) and the covenants and agreements hereinafter mentioned, to be <br />kept and performed by the Purchaser, hereby grants to the Purchaser the right from <br />the date of this Agreement and until the 28th day of March 1S 88 to <br />purchase and remove sand and Qravel from the following described <br />premises situated in Sedewick County, Colorado: <br />SUBDIVISION SECTION TOWNSHIP RANGE <br />Area Southwest of the Creek in the SW/4 16 9 North 44 West <br />It is mutually agreed as follows: <br />1) At the expiration of the aforesaid limited time, this Permit will become null <br />and void, unless extended by the mutual agreement of both Owner and Purchaser. <br />If extended, the new expiration date is to be entered on the back of this Permit. <br />2) Purchaser will have the right to enter the subject premises and erect any <br />temporary structures and employ any reasonable methods for removal of the <br />material. <br />3) Material to be removed at the rate set out below: <br />Sand and Gravel <br />at a price of $ 0.30 per ton <br />or <br />card and (:ravel at a price of $ 0.405 per cubic yard <br />4) The Owner reserves the right to lease or sell the land, to issue other permits <br />upon it, and to grant rights-of-way upon all or any part of said peemises at any <br />time for any purpose, and Owner may cancel this Permit at any time for any reason <br />by giving Purchaser 30 days' written notice. <br />5) Settlement Option - Purchaser agrees to report production on forms furnished by <br />Owner, accompanying such forms with full payment for all material removed, <br />Settlement is to be made by one of the following methods which is to be binding <br />during the entire term of this Permit: <br />A. Quarterly Settlement <br />The quantity of material removed from the aforementioned premises is to be <br />reported by calendar quarter, A report, accompanied by remittance, is to <br />be furnished to the State Board of Land Commissioner~tfiin one wont after <br />the end of each settlement period (by January 31, April 30, July 31, and <br />October 31); or <br />-1- <br />