Laserfiche WebLink
® u~Acsa~~c,FC6 <br />Februazy 23, 2006 <br />Lincoln County Commissioners <br />P.O. Box 39 <br />Hugo, Colorado <br />Atm: Steve Burgess, Commissioner <br />Subject: Minerals owned by U.S. AgBank FCB <br />Dear Mr. Burgess, <br />.,,.. <br />Thank you for your letter of February 13w, clarifying the County's desire to remove <br />gravel from the NW/4 of Section 2,Township 8 South, Range 54West, and to pay the <br />proceeds directly to the landowner. <br />While the Bank has no precedent for granting such a request, we concur with the <br />Commissions desire to maintain the County's road system, benefiting our customers and <br />other residents of Lincoln County. <br />Therefore the U.S. AgBank, by this letter, agrees to subordinate whatever rights it would <br />have (from the removal of gravel only), to revenues that would result on the planned ten <br />acre site the County developing in the NW/4 of Section 2, Township 8 South, Range <br />54West, Lincoln County, Colorado. This agreement will terminate whenever the County <br />ceases its stated purpose of removing gravel for its own use. <br />The Bank further reserves the right to its shaze of income on any other type of mineral <br />development on the NW/4, and to receive revenue on proceeds from the sale of any other <br />type of minerals that might result from the County's removal of gravel from this site. <br />Sincerely, <br />Richazd K. Cazlisle <br />Director- Minerals <br />Part of The Farm Credit System <br />ADMINIST0.ATIVE OFFICE: 24S N. WLCO 67202 P.O. BOX 2940 67201-2940 • Wichita, KS • Tel: 316-266-5100, fax: 316-266-5121 <br />sncaAMENro oFFicE: 3636 American River Drive, Ste. 700 • Sacramento, CA 95864-5901 • Tel: 916-973-3074, Fax: 976-973-3092 <br />