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l<?ql/l ? <br />FIRST AMENDMENT <br />TO <br />SAND AND GRAVEL LEASE <br />This First Amendment to Sand and Gravel Lease ("Amendment") is entered into effective <br />as of the date last signed below ("Effective Date") and amends the Sand and Gravel Lease <br />("Lease") dated January 1, 2001 between Jocko Camilletti, ("Lessor") and Connell Resources, <br />Inc., a Colorado Corporation ("Lessee"). <br />1. Leased Premises. <br />The description of the Leased Premises referenced in Section 1 of the Lease is amended <br />to include the following property: <br />(a) The real property owned by Giacomo D. Camilletti described as Parcel A on page <br />1 of Exhibit A, attached and incorporated by reference, and depicted on page 3 of Exhibit A <br />("Giacomo Camilletti Parcel"). The Giacomo Camilletti Parcel consists of approximately 3182 <br />acres. <br />AND <br />(b) That portion of the real property owned by Todd E. Camilletti and Catherine M. <br />Camilletti described as Parcel B on pages 1 and 2 of Exhibit A that is depicted on page 4 of <br />Exhibit A ("Todd & Catherine Camilletti Parcel'). The Todd & Catherine Camilletti Parcel <br />consists of approximately 9.19 acres. <br />2. Lessor\Addresses. <br />Unless otherwise provided in this Amendment, the defined term "Lessor" as used in the <br />Lease is amended to collectively mean and refer to Giacomo D. Camilletti, also known as Jocko <br />Camilletti ("Giacomo Camilletti" ), and Todd E. CamiIietti and Catherine M. Camilletti ("Todd <br />& Catherine Camilletti"). <br />The address for Giacomo Camilletti is P.O. Box 249, Hayden, Colorado, 81639. The <br />address for Todd and Catherine Camilletti is P.O. Box 1262, Hayden, Colorado, 81639. If there <br />is any change in these addresses, the party with the changed address shall give notice of the <br />changed address to Lessee in accordance with Section 12 (Notices) of the Lease. <br />3. Royalties. <br />1 Section 4 (Royalties) of the Lease is amended so that: <br />• For all materials sold and removed from the Giacomo Camilletti Parcel <br />during the period from May 1, 2007 through December 31, 2008, Lessee <br />shall pay Giacomo Camilletti (and not Todd & Catherine Camilletti) as a <br />royalty the sum of 4Wper ton for sand and gravel andMper cubic <br />yard for fill dirt and recycled asphalt or concrete. This amendment shall <br />apply retroactively to May 1, 2007. It is the intent of this provision that <br />MW (11611005)