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' If the parka Mve not to n new ran and royaty by the esrp'vation hereot~l.eax <br />shall expire subject W Ltxsae'a rrght in Paragraph 6 6veof. <br /> <br />3. RENT AND ROYALTY Lasaae afiall pay Lessor the sum of FIVE HUNDRED end <br />NO/100 Ddlen (5300.00) PQ ytxr in edvarr« (Iriein, "Animal Rmt^I'~ during the primary tam <br />heroof sd during nay attadd time Ual Erases h in prosaaion far rxlemelion u provided in <br />Puegrsph 6 below, which sMll be full compensation far ttse of and damage W the Property. <br />Additionally, Lessee will pay Lessor s royshy equal b sixty cent (f.60) per cubic yard for send ad <br />gravel mined end ranoved from the PropQq. Paymat is to be made m quamitia u mswred by • <br />Liermed Survgar employed by Lessee. <br />By crating a royalty herein Lasses in no way guarerdm erry miohnwo production. <br />Furthutrtorq Ltssee is not obligated to engage in mining a praductioo to roahasin thin lase during <br />the term hereof: it being me imeot of the pattim tlut the kax be hdd by the Amud RmW sutad <br />sbova <br />4. PAYMENT By the 20th of ach month during the term hereof Less dull compute dl <br />royalties due Leaver hereunder ad prepare an invoice Car submissintt b the Bwrd of County <br />Commipbma Lessor shall ba paid punuam W Lasse's routine praeadures. <br />3. RF.CORD3 Lessee slug. at all times, keep written reeordti of Ufa amoutro of rruterial <br />removed Gam Property, ahirL taeords shall be avagabb b Lamar far the prcpoee of verifying <br />6. RECLAMATION Lessor agrexs h wilt reclaim the portion of the Property from whieb <br />it reoroved aaad and gaud in atxard.rrce with the roqu'uaneab of the Division of Minuet and <br />Geology of the State of Cokndo. I.asae shag have the right of cocas W the Property mbsaquem <br />b anmplafoo of ib mining to eompleu ag rtacasary ralamafiaq whirb right shall caat~s far not <br />more than live (3) yeah agar carstioo of mining <br />During the reclamation, and for srry sand and gavel to which a royally 6v bem paid, <br />I.avae may rrmova arq cad and gaud atockpibd during mining <br />7. FIIVAL ACCEPTANCE The fort aceeptartce of the Ssd ad Gravd Lease u <br />wntingaa w the application being seaPted by the Div'sioo of MioQal ad Omk>gy of the Sate of <br />Colardo iuuirtg Lames ao aPProPryte ~B P~ <br />BV W17'NESS WHEREOF. the panim haem haw net rhea heads ad each the day end <br />yar ivu above wr$tm <br />L/J AB' /) "! /tit/L/~/ <br />//~~ (SEAL) ~^1 <br />./.7r,.. _ . i ~i /fin - 1/ <br />(SEAL) <br />(SEAL) <br />`~ ($ AL) <br />(SEAL) <br />(SEAL) <br />(SEAL) (SEAL) <br />TI1E BOARD OF COUNTY COMMISSIONERS <br />OF THE COUNTY OF MOFFAT, STATE OF <br />COLORADO, LESSEE: ~gn~~,-/(~~ <br />TITLE: <br />(SEAL) <br />Exhibit N-1 page ill <br />