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<br />STATE OF COLORADO
<br />Rev. 05/98 STATE BOARD OF LAND COMMISSIONERS
<br />Department of Natural Resources
<br />Denver, Colorado
<br />CENERALQUARRY LEASE NO.QR 3332
<br />THIS QUARRY LEASE, Made in duplicate and entered into this 17th day of July , 19 98 , by and between
<br />the State of Colorado, acting through its STATE BOARD OF LAND COMMISSIONERS, hereinafter referred to as
<br />Lessor, and Castle Concrete Camoanv, P. O. Box 2379, Colorado SDriIIES. CO 80901 hereinafter referred to as
<br />Lessee:
<br />WITNESSETH: Lessor, for and in consideration of the sum of thirty-nine thousand three hundred sixty
<br />Dollars ($ 39,360.00 ), receipt of which is hereby acknowledged as payment of the first year's rent in the amount of
<br />$960.00 , and a bonus in the amount of $ 38,400.00 ,and in further consideration of Lessee's agreement to pay three
<br />and no/00 Dollar(s) ($ 3.00 )per acre annually as rental in advance of the anniversary date of this lease so long as said
<br />lease shall remain in effect; and in further consideration of the terms, conditions and agreements herein and of the
<br />payments of annual rentals and royalties reserved herein, to be kept and performed by Lessee, its successors and assigns,
<br />does hereby lease to Lessee the right and privilege of exploring and prospecting for, developing, and mining of and taking
<br />of guarry ruck, boulders, [[toss rock, riu-rau, lattdscauc rock attd sand and eravel from the lands herein described,
<br />situated in the County of Fremont, State of Colorado, to wit:
<br />ACRES SUBDIVISION SEC.TWP.RGE. PATENTS
<br />160.00 SW4 14-178-68W None
<br />160.00 NFA 22-178-68W None
<br />FUND: School
<br />containing 320.00 acres, more or less, together with the right to use as much of the surface as may be reasonably
<br />required, including the right to reasonable ingress and egress; the right to make excavations, stockpiles, and other
<br />improvements as may be reasonably necessary in the mining and removal of said minerals; subject, however, to all
<br />existing easements and rights-of-way of third parties, and the rights of surface lessees and surface owners, and furdter
<br />subject to the terms, conditions and agreements set out in this lease. The above-mentioned rights may be exercised in
<br />connection with mining on outer or adjacent lands only when mining on such lands is carried on in conjunction with the
<br />actual mining on the Leased Premises. The benefits, terms, and obligations of this lease shall extend to and be binding
<br />upon the heirs, executors, administrators,soccessors, or assigns of the respective parties hereto.
<br />RESERVING, however, to Lessor:
<br />A. All rights and privileges of every kind and nature, except as are herein specifically granted.
<br />B. The right to use or lease said premises or any part thereof at any time for any purpose, including the right
<br />to explore and prospect said premises, which use and leasing of said premises shall be for purposes odter
<br />than and not inconsistent with the rights and privileges herein specifically granted.
<br />C. The right to dispose of or lease the surface where Lessor is the surface owner.
<br />D. The right at all times during the life of this lease to go upon said premises and every part thereof for the
<br />purpose of inspecting said premises, and the books of accounts and records of mineral workings therein,
<br />and of ascertaining whether or not said Lessee and those holding thereunder by and from it, are carrying
<br />out the teens, covenants and agreements in this lease contained.
<br />E. The right at any time to grant aright-of-way upon, over or across all or any part of said premises for any
<br />ditch, reservoir, railroad, communication system, electric powerline, or pipeline, schoolhouse or other
<br />lawful purpose; but that such grants shall be subject to the rights of Lessee.
<br />F. The right at any time to place the Leased Premises into the Stewardship Trust as set forth in Section
<br />10(I)(b)(1) of Article IX, of the State Constitution. Said placement into the S[ewardsl~tp Trust shall be for
<br />reasons not inconsistent with the rights and privileges of Lessee.
<br />TO HAVE AND TO HOLD The above-described premises unto Lessee, its heirs, successors, assigns, or legal
<br />representatives for the term of ten years, and until Twelve O'clock noon on the 17th day of July , 2008 ,the
<br />primary term, and, except as hereinafter stated, for an additional ten years, the secondary term, if minerals are being
<br />produced in paying quantities front said premises, and the royalties and rentals provided for herein are being paid, or by
<br />any extension hereof, subject to the following terms, conditions and agreements, to-wit:
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