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WAIVER OF LIFE ESTATE ON ALL GRAVEL ROYALTIES <br />SPECIFIC TO SCHUMACHER PIT #3 <br />We, Maynard A. Schumacher and Norma Jean Schumacher, hereby waive any rights, <br />privileges, or claims to any gravel royalties in Schumacher Pit #3. Schumacher Pit #3 <br />will be approximately a 31.7 acre pit in the Sl/2NW1/4 of Section 11, Township 11 <br />North, Range 52 West of the 61° Principal Meridian in Logan County, State of Colorado <br />with an application for permit to the State of Colorado dated September 6, 2006. We <br />transfer all gravel royalties from this Schumacher Pit #3 to Jeffrey L. Schumacher, who is <br />also the land owner of this property. Any future expansion of this pit will also be <br />included in this waiver of life estate on all gravel royalties. <br />We, Maynard A. Schumacher and Norma Jean Schumacher, will not be liable for any <br />fees or costs associated with this pit. All proceeds from the sale(s) of gravel will be <br />owned by Jeffrey L. Schumacher and all taxes associated to the gravel income from this <br />pit will be paid by Jeffrey L. Schumacher. <br />IN WITNESS WHEREOF, Maynard A. Schumacher and Norma Jean Schumacher has <br />executed this Waiver of Life Estate on All Gravel Royalties Specific to Schumacher Pit <br />#3 on this 19+'~ day of September, 2006. <br />J j'1 B~ ~l Q~LisflJl~~+'~~-- <br />R~~ A. Schumacher <br />TNorma J chumacher <br />STATE OF Gn(c ra.d o <br />COUNTY OF t.~.~..._ <br />The foregoing inetn,me~,t was acknowledged before me this l €~ day of September, <br />2006 by Maynard A. Schumacher and Norma Jean Schumacher <br />My Commission expires: _ H'3a - 2mg <br />Witness my hand and official seal h <br />NOTARY PUBLIC Notary Public 7 <br />STEVEN J. KAISER <br />STATE OF COIARADO <br />