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<br />SAND, GRAVEL AND AGGREGATE MINING LEASE.
<br />This Sand, Gravel and Aggregate Mining -Lease ("Lease"), is entered into and effective as of
<br />Z/ , 2005 ("Effective Date") by and among Robert L. Parker and Valerie A. Parker, individuals,
<br />the mailing address of whom, for purposes of this Lease, is P.O, Box 1255,'Bnghtori, Colorado 80601,
<br />("Landlord"), and Hall-Irwin Corporation, a Colorado corporation,-'the mailing address of which, for
<br />purposes of this Agreement, is P.O. Box 2150, Greeley, Colorado 80632 ("TenanP). The foregoing may
<br />hereinafter be individually referred to as'party"and collectively referred to as the "Parties".
<br />RECITALS
<br />A. WHEREAS, Landlord owns the property described on Exhibit A attached hereto ("Property"); and,
<br />B. WHEREAS, Tenant desires fo mine sand, gravel, rrminerals and aggregate ("Aggregate') from the
<br />Property; and ,
<br />C. WHEREAS, Landlord desires to have Tenant mine Aggregate from the Property:
<br />AGREEMENT
<br />NOW, THEREFORE, In consideration of the mutual promises and covenants contained herein, Landlord
<br />hereby leases to Tenant the Properly fof the purposes of operating an Aggregate mine.
<br />1: Incorporation of Background Statement-bv Reference. Ali of the Recitals above are incorporated
<br />herein by reference and made a part of this Lease.
<br />2. Aooreaate to be Mined. Tenant shall have the right,."but not the obligation, to 'remove the
<br />overburden and Aggregate from the Property in accordance with the Colorado Department of
<br />Mineral and' Geology approved reclamation plan for.the Property ("Reclamation Plan -). Under no
<br />.circumstance will Tenant be obligated to remove anything if it would be, in Tenants sole
<br />judgment, unprofitable or uneconomical to do so. As construed in this Lease the term
<br />"overburden" shall mean ail dirt, topsoil and other natural materials situated on the surface of the
<br />Property and overlying the deposits of Aggregate.
<br />3. Approvals. Tenant shall tie responsible for applying for and obtaining. all permits and approvals
<br />necessary to legally conduct its operations on the Property contemplated by this Lease
<br />(°Approvals'). Landlord; for itself and its .successors and assigns,. shall .cooperate .in, all .
<br />reasopable ways with Tenant W obtain the Approvals and shall fuhrish, without cost, all
<br />information regarding the Property; which it has insofar as such .Information 'relates to the
<br />purposes of this Lease. Tenant shai(be solely'responsitile for all costs and fees of obtaining the
<br />Approvals which shall be the sole and separate property of Tenant Notwithstanding anything "
<br />else contained in this Lease, in the event that the Tenant is unable to obtain any of the Approvals
<br />then the Tenant may, but shall not be obligated~lo, terminate this Lease by giving wwitten notice to
<br />the Landlord.
<br />4. Term. The term of this Lease shall commence on the Effective pate and shall continue until the
<br />.third (3") anniversary of the date upon which the lasf of the Approvals is obtained by the Tenant,
<br />and-shall automatically extend for a period not to exceed one (1) year, such extension to.remain
<br />in effect for so long as Aggregate production occurs. Notwithstanding anything el$e contained in
<br />.the Lease, this Lease shall terminate 'on the fourth (4~') anniversary of the date upon whicfi'the
<br />.last of the Approvals is obtained by the Tenant unless this Lease is extended in a written
<br />agreement executed by the Tenant and Landlord.
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