2003-12-15_REPORT - M1990093 - Laserfiche WebLink

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HIGH FLUME GRAVEL PIT LEASE AGREEMENT This HIGH FLUME GRAVEL PIT LEASE AGREEMENT ("Lease Agreement") is made and entered into by and between High Flume Gravel Pit, Inc. ("HFGP") and Dale L. Trenkle and Betty L. Trenkle of 350 High Flume Loop, Durango, Colorado 81303 (collectively "Trenkle") and OLDCASTLE SW GROUP, INC., dba FOUR CORNERS MATERIALS, whose address is P. O. Box 2707, Durango, Colorado 81302 ("FCM"). This Lease Agreement is executed by the parties as of the date set forth next to their signatures below, but is made effective as of Januazy 1, 2003. Section 1. RECITALS 1.01 Trenkle. Trenkle and HFGP are the owners of certain real property located south of Durango, Colorado within the S %z of the SE '/< of Section 14, T33N, R10W, N.M.P.M., LaPlata County Patcel Numbers 5949-144-00-139 and 5949-144-00-140 (the "Trenkle Property"). The "High Flume Gravel Pit," (the "Gravel Pit") is located on the Trenkle Property. Trenkle's and HFGP's ownership interest in the Gravel Pit and the Trenkle Property includes the surface estate and ownership of all sand and gravel minerals. 1.02 FCM. FCM is engaged in the business of mining, crushing, processing and selling sand and gravel and associated rock products and the business of manufacturing and selling concrete and asphalt related products. 1.03 Gravel Minine. Trenkle is currently authorized to operate and conduct mining related operations at the Gravel Pit pursuant to the terms of Permit No. M-90-093 issued by the Colorado Division of Minerals and Geology. 1.04 Intent. FCM and Trenkle enter into this Lease Agreement to memorialize the terms of their agreement which provides for FCM's mining and use of the Gravel Pit, and the operation of FCM's business at the Gravel Pit throughout the term of this Lease Agreement. Section 2. REPRESENTATIONS 2.01 Authorized to Conduct Business. Trenkle, HFGP and FCM represent to each other that each is authorized to enter into this Lease Agreement in the form and the manner set forth herein. 2.02 Ownershin of Gravel Pit. Trenkle and HFGP represent that they own al] of the real property described above and all of the interests in the sand and gravel minerals located within the Gravel Permit area. Trenkle additionally represents that their interests in the Trenkle Property and in said sand and gravel minerals aze not pledged as security or otherwise encumbered as of the effective date of this Lease Agreement.