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Section 5. RECORDKEEPING <br />5.01 Dailv Loes and Sales Records. FCM shall maintain accurate records of all gravel <br />products sold from the Gravel Pit on a daily basis, and no sand, gravel or related rock products <br />shall be removed from Gravel Pit without a contemporazy written record of the amount so <br />removed. <br />5.02 Maintenance of Records. FCM shall maintain its records related to the gravel <br />products sold from the Gravel Pit, and fixture expansion azea, for a period of three (3) yeazs after <br />termination of this Lease Agreement and such records shall be open for reasonable inspection by <br />Trenkle for the purpose of conducting an audit of said records. <br />Section 6. ROYALTIES <br />6.01 Rovaltv. Except for gravel provided to Trenkle or used to reconstruct or maintain <br />the access road to the gravel pit, FCM shall pay a royalty for each and every ton of gravel or of <br />rock related products mined, removed and sold by FCM from the Gravel Pit and any expansion <br />area of the Gravel Pit. Said royalty shall be at the rate of Sixty Cents ($0.60) per ton of mined <br />and sold material for the January I, 2003 through December 31, 2012 time period. The royalty <br />shall be increased to One Dollaz ($1.00) per ton for any gravel or rock related product utilized on <br />reconstruction of US 550 if such reconstruction occurs in the river bottom (La Posta Road) <br />corridor in lieu of following the current alignment upon Florida Mesa, and or relocation of the La <br />Plata County.Airport to the azea west of the gravel pit. <br />6.02 Time for Payment. On an annual basis, FCM shall pay all La Plata County <br />property taxes associated with the Trenkle Property, and taxes levied based on improvements <br />FCM has made to the Gravel Pit. Any monthly royalty payment due Trenkle shall be paid by <br />FCM within thirty (30) days following the close of the applicable calendar month for the sale of <br />sand, gravel or other rock related products. Each such remittance of royalty shall be <br />accompanied by a short summary statement of the weighed amount and type of products sold. <br />6.03 Weighed Materials. All aggregate removed and sold by FCM from the Gravel Pit <br />shall be weighed and sold on a tonnage basis and not by bulk volume. FCM shall be allowed to <br />utilize the truck scales which are currently located at the Gravel Pit. FCM agrees to maintain all <br />scales located and utilized by FCM at the Gravel Pit in accordance with applicable state and <br />federal standazds. If the scale computer owned by Trenkle is utilized by FCM, FCM will <br />maintain it, as well. <br />6.04 Production and Other Taxes. FCM shall be responsible for any taxes on <br />production, equipment and property owned by FCM or undertaken by FCM or undertaken by <br />FCM pursuant to this Lease Agreement. <br />High Flume Pit Lease <br />i223i02 <br />Page 3 of 7 <br />