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<br />1. Grant. Lessors hereby grant, lease, let and demise <br />unto Sutherland //'itspprrsuccessors and assigns, all of the sand and <br />~ri/ OO~ALl.'J C <br />gravel on the Subject Pro~rty. <br />Lessors further grant to Sutherland the right of access to <br />the Subject Property on a road to be maintained by Sutherland. <br />Sutherland will provide for adequate dust control as part of the <br />maintenance of the access road. <br />2. Term. The term of this Agreement shall be for a period <br />of twenty (20) years from the date hereof, unless sooner terminated <br />as provided herein. <br />3. Option to Extend. The Lessors grant to Sutherland the <br />option to extend this Agreement for an additional Twenty (20) <br />years, however, the price paid for the removal of the sand and <br />gravel shall be subject to negotiation between the parties hereto. <br />Exercise of the option shall be in writing and shall be submitted <br />to the Lessors at least six months prior to the expiration of the <br />term of this lease. <br />4. Manner of Work. Sutherland agrees to conduct all of <br />its operations hereunder in a careful and miner-like manner and <br />in compliance with all applicable laws and regulations of the <br />United States and the State of Colorado. <br />5. Production Payment. Sutherland shall pay to Lessors <br />a fee of One Dollar ($1.00) per cubic yard of sand and gravel <br />removed and sold from the Subject Property. <br />6. Settlement. <br />(a) Sutherland shall pay to Lessors any and all fees <br />earned hereunder within thirty (30) days following the end of the <br />month in which the sand and gravel is removed from the Subject <br />Property. <br />(b) Volume and Weight Determination. The volume of <br />all sand and gravel removed from the Subject Property shall be <br />determined using the average volume of material contained in each <br />truck load u ilizing a certified scale located on the Subject <br />Property. <br />(z) <br /> <br />