Laserfiche WebLink
EXHIBIT - N <br />SQUrrc-~-~Q~t-regal Right to Enter <br />s.arvn r~n~n c~v~[. [.~nsE <br />(JUrfaCe) <br />LESSOR: Smith Rancho <br />ADDRESS P. O. Box 275, Craiy. CO 91626 <br />PHONE # (970) 82d-2631 or (970) 824-6100 <br />S.S.# 84.0781351 <br />t ESSEE' THE BOARD OF MOFFAT COUNT' COMMISSIONERS <br />ADDRESS: 227 West Vigory VVay, Craig CO B1fi26 <br />PHONE # (970) 92x5917 <br />SS# <br />PROPERTY; SEE EXHIBiT'A' ATTACHED HERETO <br />DATE: June 23, 2003 <br />RECITALS <br />Lessor owns the Propeny. <br />B. Lessee w6nes to enter the Property for the purpose or axtroding sand and Gravel. <br />C. Lessor and Lessee have a0reetl to a pnce for the nphl t0 enter the Propeny for the <br />purpose of extracting nano and gravel, as well as a royalty /ar sand and Gravel <br />remavod /rom the Propeny. <br />NOW THEREFORE, Pore 9000 and valuable cun5ltleretion the ponies agree es follows: <br />i. GRANT S TIttE Lessor grants to Lessee the nOht to enter upon the Property to mine, <br />use, sell or remove santl arld gravel (herein, `miningy. This Brant includes the rgnl of enhance with <br />bucks entl crusher plants entl other necessary equipment, and the rphl to leave such equipment on the <br />Property during mining, stodeplla retludion an0 reUamatian. lessor /uMar wartanls to Lessee foal <br />Lessor has 9~ Mla tc the Property and has roll authority to grant Lessee, lhk ka5e. Lessor agrees to <br />indemnity Lessee against any claim roar Lessor does not have goad t9k or iho n9M to enter Uis lease. <br />The rights gramod nereurWer shall be exduslva in the sense mat the Leasorwill nol9rant to <br />anyone else tRe prtvtle+ga of removing sent and gravel from trte PropanY tludrp ma penotl hereof or uma <br />reclamation is completed. Lessor reserves me npht rt any 9ma Ounng the teml Hereof to go on entl uu <br />Ina PropOny Im any purpose whatsoever, but without unreasonable inlerterence with the tlBM of the <br />Lessee. <br />2. TERM TRis Lease sna1V exlentl for a period of trva (5) years fmm iRe date herool. <br />Lessee shell nave Ina absolute npht l0 renew this Leese for en atltlUlonel lens of five (5) years, <br />subject only to a mnapoUation o/the rent end royally set IoM in Paragraph 3 below. <br />To axemisa Ibis nOnt to renew, Lessee shell serve Lessor al the above.itated address with <br />wmlen notice o/ ii5 intent to renew not less than ninety (90) tlays poor to ma expin9on hercol, <br />wnaroupon me parties shall endeavor In pond !Biro to agree to a new rent and royalty to be aOWicabte <br />tluring the extended tens hemaf. Each party shall be dsametl to be nego0a9np in gootl hIN if me gnu <br />txirp nepotiatad is rehletl to a currem bona title offer to base received pY Lessor Rom a Ihim pony or 10 <br />other obkAive indicators in Me market place. Upon agreement to a new rem end royalty, the parties will <br />execute a written agreement. <br />If Ina genies nova not apreetl to a new rent entl royaay by the expiretion nereol, th{s Lease shall <br />expire subjeU tc LeSSee's rpht in Parogaph 6 hereo(. <br />8. RENT ANDROVALTV Lessee Shall pay Lessor the Sum of FIVE HUNDRED end <br />NO/700 Dollars (5500.00) per year in advance (herein, "Annual Remaly durirp ine primary term hared! <br />an0 tlunrp any extended time that Lessee is in possession for reUamavon as provided in Paragraph e <br />below. which shall be Iu1i compenSaGan far use of era rkmape to 07a Property. AddUknaUy, lessee will <br />pay Lessor a royally eoual to sixty ants (S.BO) per cubic yam for santl and grevN mined ant removed <br />from the Property. Payment M to ba matle on quentilles es meawred by a licensed Surveyor employed <br />by Lessee for crushed gravel or by load mount far other matenak. <br />By stating a roy611y Rerain Lessee in noway puaremees any minimum production. funharmore, <br />Lessee is not ohligatetl to engage in mining or production to maintain this lease dunnp the term here0l, N <br />being the intent of the parries that tna lease De bent by 0e Annual Rental 5utetl above. <br />Exhibit - N Page 1 <br />