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I OGCJJ <br /> SAND AND GRAVEL LEASE <br /> THIS LEASE entered into and effective as of <br /> 1998, is between FLYING W RANCH LOVELAND, LLC, hereinafter <br /> referred to as "Lessor", and JAKE KAUFFMAN & SONS, INC. , <br /> hereinafter referred to as "Lessee" . <br /> WITNESSETH : <br /> WHEREAS, by this instrument, the Lessor leases to Lessee a <br /> certain tract of land for the purposes of mining and extracting <br /> sand, gravel and like products therefrom: <br /> 1 . LEASED PREMISES. Lessor, in consideration of the <br /> royalties herein reserved and the covenants to be performed by <br /> the Lessee, does hereby lease, let and demise unto the Lessee, <br /> for the purposes of mining and extracting sand, gravel and like <br /> products therefrom, that certain real property consisting of <br /> approximately 97 acres owned by Lessor located in the West L� of <br /> NE , and E 1� of NW , of Section 21 , Township 5, Range 68 West of <br /> the 6"' P.M. , Larimer County, Colorado, ( the "Leased Premises") , <br /> which lies adjacent to lands owned by Lessee . The Leased <br /> Premises shall include all areas within the currently fenced <br /> perimeter of the Leased Premises owned by Lessor on the north <br /> side of the Thompson River . A survey shall be performed to create <br /> the legal description for the Leased Premises and may be attached <br /> to this Lease as an Addendum. Lessor shall be responsible for <br /> the cost of said survey, but Lessee shall pay the cost of said <br /> survey, and said amount shall be deducted from the first royalty <br /> payment to be paid to Lessor under this Lease . <br /> 2 . LESSOR'S RESERVATIONS. Lessor reserves all mineral <br /> rights of every kind and nature in and to all minerals, including <br /> oil and gas in and under and that may be produced from the Leased <br /> Premises or any portion thereof, except said reservation shall <br /> not include sand, gravel and like products (collectively the <br /> "Salable Material") . Lessor also reserves all rights to all top <br /> soil . Lessee is prohibited from removing and/or selling over <br /> burden and top soil from the Leased Premises . Lessee shall use <br /> all over burden and top soil to accomplish the reclamation of the <br /> Leased_ Premises . Lessor reserves all rights to the surface of <br /> the Leased Premises, to all surface and all subsurface water <br /> rights, and to all rights and privileges of every kind and nature <br /> not expressly granted herein; provided, however, that use of such <br /> reserved rights shall not interfere with the operations of Lessee <br /> under this Lease . <br /> 3 . TERM OF LEASE. The term of this Lease shall be for a <br /> period the earlier of ten ( 10) years from the Commencement Date <br /> as defined below, or the date when all Salable Material has been <br /> 1 <br />