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Exhibit N <br />Source of Legal Right to Enter <br />LEASE AGREEMENT WITH OPTION TO BUY MATERIAL <br />MAYNARD A. AND NORMA JEAN SCHUMACHER <br />THIS LEASE AGREEMENT WITH OPTION TO BUY MATERIAL ("Lease") is made and <br />entered into by and between Maynard A. and Norma Jean Schumacher, 552 William Way, Sidney, <br />NE 69162, ("Owner"), and Logan County, Colorado, a political subdivision of the State of <br />Colorado, 315 Main Street, Sterling, Colorado 80751 (the "County"). <br />1. Lease. In consideration of the mutual covenants contained herein the Owner does <br />hereby lease to the County the real property more particularly described as follows and <br />referred to hereafter as the "Leased Premises": <br />9.98 acres of land in the West Half (W 1/2) of Section Eleven (11), Township <br />Eleven (11) North, Range 52 West of the Sixth (6) Principal meridian, Logan <br />County, Colorado <br />Commencing at the Northwest Corner of said Section 11 proceed south 2778.2 <br />feet on the West line of said Section 11; Thence East 57.0 feet to the point of <br />beginning; thence continue east 650.0 feet; thence south 710.0 feet; thence west <br />677.0 feet to the east Right of Way line of County Road 45; thence North150 feet <br />on said east Right of Way line of County Road 45; thence east 170 feet; thence <br />North 250 feet; thence west 143 feet; thence North 310 Feet more or less to the <br />point of beginning. <br />together with an exclusive option for the purpose of purchasing, processing, producing <br />and removal of aggregate therefrom. A map of the Leased Premises is attached hereto <br />as Exhibit "A". <br />2. Purchase of Materials. In the event the County desires to purchase any material <br />located on the lands described above, the Owner will be paid a royalty at the rate of <br />forty-two cents ($.42) (the "Purchase Price") per cubic yard for all aggregate removed <br />by County from the Leased Premises. <br />At the end of each month of operations, the County will submit to Owner an <br />accounting of the total number of cubic yards of material extracted and removed <br />showing dates the material was removed, and will simultaneously pay the total due <br />based on the Purchase Price. The County shall not be obligated to purchase any <br />minimum amount of material under the terms of this contract. In the event no <br />materials are removed during any month, no accounting is required. <br />3. Review of the Purchase Price. During the term of this Lease, the Purchase Price shall <br />be reviewed by County every two years. If the Purchase Price no longer reflects the <br />current market value, County, in its sole discretion, may adjust the Purchase Price by <br />executing and sending to Owner the modified Purchase Price in a format substantially <br />similar to Form 1, attached hereto and incorporated herein. When signed by the Board <br />of County Commissioners, any modification to the Purchase Price shall be deemed to <br />1