Laserfiche WebLink
<br />ZELLITTI PIT LEASE AGREEMENT <br />THE LEASE AGREEMENT ("Lease") is made and entered into this day - Oi <br />of ?y 4 S , , by and between Anthony Zellitti, whose address is 2001 <br />County Road 300, Durango, Colorado 81301 (hereinafter "Lessor') and Hocker <br />Construction, LLP, whose address is P.O. Box 627, Ignacio, Colorado 81137 (hereinafter <br />"Lessee"). <br />A. RECITALS <br />1. Lessor is the owner of certain property consisting of approximately 37.9 <br />acres located in Township 34 North, Range 9 West, and being more particularly <br />described as the WI/2 of the SW 1/4 of Section 34 and the SE1/4 of Section 33. <br />Located on said property is a sand and gravel mining operation (hereinafter the "pit") <br />licensed with the Colorado Mined Land Reclamation Board (hereinafter "MLRB"); <br />2. Lessee has been and continues to operate the Pit pursuant to an oral <br />agreement with Lessor, and has made substantial improvements to the Pit and the <br />access road to the Pit and has posted a substantial reclamation bond with the MLRB. <br />3. The parties hereto desire to enter into an agreement extending the existing <br />lease agreement and setting forth each party's respective rights, responsibilities and <br />obligations. <br />NOW THEREFORE, in consideration of the agreement set forth herein, in further <br />consideration of the improvements performed by Lessee, and of the payment of <br />royalties by Lessee as provided herein, and subject to the terms and conditions and <br />provisions hereof, Lessor leases to Lessee a portion of the above described tract of <br />land for the purpose of quarrying, mining, removing, and marketing there from sand, <br />gravel, rock and other aggregates, all of which are in referred to as "Materials". <br />B. AGREEMENT <br />1. Term of the Lease. This Lease shall be in effect for a period of the <br />duration of the existing pit life (the approximate 37.9 acres) from the date first mentioned <br />above. <br />2. Option to Renew: Hocker shall have an option to renew terms and <br />conditions after the mining of these 37.9 acres is complete, for an additional mining <br />opportunity (new pit permit proposed for future gravel extraction). <br />3. Area: Mining operations shall be confined to the permitted area, but the <br />area of the Lease shall include all areas within the permitted area reasonably necessary <br />for the operations of the Pit and the processing, storage and transporting of the Materials <br />as set forth herein. The lease area shall also include the access road to the Pit.