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May-26-00 O1:74P J.R. Phillips P.o2 <br />95!'_5/2000 19:59 303-3c~022 BOB & FHOr:LA (,7?Intr+ PAGE 01 <br />• <br />~~~ <br />THIS AGRLE?fENT, aade this day o! March, 1999, by and between <br />Robert A. and Rhonda Crimm, hereafter called the Sellars, and pioneer Sand <br />Company, Inc., hereafter called the Buyer. <br />W I T N E s S E T M• <br />WSEREA3, Pioneer Sand Company, inc, desires to have the exclusive <br />right to purchase and remove borrow metarial (top soil and structural <br />1111) from designated areas on property described as the S1/7 0! Section <br />14, T45, R64tI, County o! Arapahoe, Colorado ("the Property"), as more <br />particularly shown on Pre-Mining Map - Sheet 1 and Reclamation Plan - <br />Sheet 2, dated 19_, and propared <br />by and which sap and plans <br />ere the heals far a plan to rsmova horror material Iron the above <br />ralerenced site, and, <br />SfREREAB, the 6ellers hereto desire to sell to the Buyer said barrow <br />material, and, <br />wHLREA3, Buyer deaizes to purchase said borrow material, <br />HOW, TNEAEroRE, the parties hereto agree as follows: <br />1. Tartu of Agreement. This Agreement shall be in effect for a <br />period of live (S) geese from the date all necessary permlta nre obtained <br />until five (S) years from that data. In the event that all necessary <br />psrmita are not obtained or being actively pursued by Buyer within alx (6) <br />months of the contract, this Agreement shall terminate. <br />2. Option. on condition that Buyer has at all times faithfully end <br />punctually performed all the covenants and conditions of this Agreement on <br />the part o! Buyer to be performed, Sellars grant Buyer the option to <br />extend this Agreement for an additional term of two (2) yearc, on the same <br />covenants and conditions contained in this Agresment, except that payment <br />provisions shall be modified under any extension. Tha parties shall <br />agree, in writing, on the price to be paid for borrow material, not to <br />exceed an increaac of twenty-five percent (Z5t), during such extension, !f <br />they are able to do so. it within thirty {30) days after the exercise of <br />this option by Buyer the parties era still unable to agree on the price to <br />be paid for borrow material, this Agreement and any extension o! thi• <br />Agreement shall terminate. If Huger desires to exercise its option to <br />renew this Agreament, Suyer shall give Sellers written notice by certified <br />mail, return receipt requested, no fewer than one hundrod twenty (120) <br />days prioz to the expiration of the term of this Agreement. <br />3. nascription o1 Material and Qua <br />a. The Sellars shall sell to Buyer all the borrow malarial <br />available from the above described site to the extent that the same can be <br />removed or mined in accordance with the Pre-Mining Map and Reclamation <br />Plan hereinabove referred to. Sellers shall provide borrow material <br />necessary for on-sits improvemer.ta free of charge. <br />N-1 <br />