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f~.J ,' SAND AND ORAVffi. LEA88 (8urface) LaseoR~ J. Burton Tuttle P.O. Box 1046, Craig, CO 81626 L888E8~ PROPBATY/ DATit November 12. 1991 ~~c ~ I g 1'r MOFPAT COUIiTY, a body politic, by the Board of County Comiasionera see Exhibit "A^ attached hereto R E C I T A L 8 A. Leeeor owns the surface of the Property. 8. Lessee wishes to enter the surface for the purpose of extracting sand and gravel. C. Leeeor and Lessee have agreed to a price for the right to enter the surface and term for this Lease. .. •. NOW TH&REFORE, for a good and valuable consideration the parties agree ae followeti 1. TITLE Leeeor grants and warrants to Lessee the right to enter upon the Property to remove sand and gravel (herein, "mining"). This grant;includee the right of entrance with trucks and crusher plants and the right to leave such equipment on the Property during mining and reclamation. The rights granted hereunder shall be exclusive in the sense that the Leeeor will not grant to anyone else the privilege of removing ennd and gravel from the Property during the period hereof or until reclamation ie completed. Leeeor reserves the right at any time during the term hereof to qo on and use the Property for any purpose whatsoever, but without unreasonable interlerence with the right of the Lessee. 2. ~ This Lease shall extend for a period of(d) five years from the date hereof, with the option on the part o! the Lessee to renew this Lease for an additional period of (5) five years. In the event Lessee desires to renew this Lease, the price per cubic yard far surface damages shall be negotiated between parties hereto, and in the event said price cannot be agreed upon, then the option to renew this Lease shall be null and void. 3. Price Lessee shall pay Leeeor the sum of 5750.00 (Seven hundred fifty dollars & no/100's---------) pe year r based on 1.875 cubic yards of sand and gravel removed, which shall be full compensation for use of and damage to the Property. The Leeeee shall have the right to remove additional quantities of sand and gravel for which Leeeee will pay Leeeor forty cents .40d per cubic yard for additional surface damages based on sand and gravel removed by Lessee's engineer. Payment ie to be made on quantities ae measured 4. PAYMENT By the 20th day of each month during the term hereof, Leeeee shall compute all royalties due Leeeor hereunder and prepare n voucher for submission to the Board of County Commissioners. Leeeor shall review and sign said voucher and shall be paid pursuant to Lessee's routine payment procedures. 5. RECORDS Leeeee shall, at all times, keep written records of the amounts of material removed from the Property, which records shall be available to Leeeor for the purpose of verifying.