2008-09-22_REVISION - M1987164 - Laserfiche WebLink

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even after December 31, 2008 all royalties for materials sold and removed from the Giacomo Camilletti Parcel be paid solely to Giacomo Camilletti. For all materials sold and removed from the Todd & Catherine Camilletti Parcel during the :period from May 1, 2007, through December 31, 2008, Lessee shall pay as a royalty the sum of?per ton for sand and gravel andJper cubic yard for fill dirtand recycled asphalt or concrete. Such royalty shall be paid one-half to Giacomo Camilletti and one-half to Todd & Catherine Camilletti. This amendment: shall apply as of the Effective Date. It is the intent of this provision that even after December 31, 2008 all royalties for materials sold and removed from the Todd & Catherine Camilletti Parcel be paid one-half to Giacomo Camilletti and one-half to Todd & Catherine Camilletti. For purposes of calculating the royalties, all material on which royalties are payable shall 1 be weighed on the Leased Premises. Section 4A (Royalty Escalation Clause) is amended and restated to read in its entirety as follows: On January 1, 2009 and on January 1 of every successive four year period after that date until this Lease is terminated, the royalty for every ton of sand and gravel sold that year will be adjusted by the percentage increase (if any) in the Producer Price Index for Colorado as published by the United States Commerce Department over the prior four year period. By way of example, and not limitation, if this Lease continues until December 31, 2016, the royalty will be adjusted January 1, 2009 for the period from January 1, 2009 through December 31, 2012, and then adjusted January 1, 2013 for the period from January 1, 2013 through December 31, 2016. The calculation of the royalty changes will be forwarded to the Lessor with the first payment of the adjusted year for the Lessor's review and agreement. 4. Time and Manner of Royalty PMlients. Section 5 (Time and Manner of Royalty Payments) of the Lease is amended by the addition of the following: All royalties due for materials sold and removed from the Giacomo Camilletti Parcel shall be paid by Lessee solely to Giacomo Camilletti. All royalties for materials sold and removed from the Todd & Catherine Camilletti Parcel shall be paid one-half by separate royalty check payable to Giacomo Camilletti and one-half by separate royalty check payable to Todd & Catherine Camilletti. 5. Structural Damage to Todd & Catherine Camilletti House. Section 7 (Covenants of Lessee) is amended by the addition of the following new subsection (k): (k) The residence of Todd & Catherine Camilletti ("House") is located on the Todd & Catherine Camilletti Parcel. Lessee shall repair, at Lessee's sole expense, any damage to the house roof, exterior walls and foundation directly caused by Lessee's activities under this Lease. t 1 1 MB6(v6=08) 1 2