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ZELLITTI PIT LEASE AGREEMENT / <br />A. <br />THE LEASE AGREENIENI T ("Lease"} is made and entered into this day <br />• of -? 4 ? , by and between Anthony Lellidi, whose address is 2001 <br />County Road 300, Durango, Colorado 8 1301 (hereinafter "Le V <br />d Rocker <br />r 0 c <br />e?E 0 <br />Colnstrac#ian, Tall', whose address is F.O. Bar 627, Igsuacio <br />6th ID <br />"Lessee")- Filing Date: May 28 2008 4:27P,"4 MDT <br />Filing ID: 20013767 <br />A. RECITALS Review Clerk: Derise Gallegos <br />1. Lessor is the owner of certain property consisting of appl+oximately 37.4 <br />acres located in Township 34 North, Range 9 West, aad being more particularly <br />described as the W112 of the SWIA of Section 34 and the SE114 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 (heminafter "MLRB11); <br />2. Lessee has been and continues to operate the Fit pursu=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 MT., B. <br />3. The parties hereto desire to enter into an agreement extending the existing <br />lease agruee neat 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 />considemion of the improvements petfornued by Lessee, and of the payment of <br />• royalties by Lessee as provided herein, and subject to the terms and oonditious and <br />provisions hereof, Lessor teases to Lessee a portion of the above described tract of <br />land for the purpose of quarrying, mining, rctuovin& and marketing there from sarkd, <br />gravel, rock and other aggregates, all of which are in referred to as Waterias". <br />B. AGREEMIJNT <br />1. Terra of the Lead 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 mentionod <br />above. <br />2. Qption to Renew: Rocker shall have an option to renew terms anti <br />conditions after the mining of these 37.9 acres is complete, for an additional nyr?tn? <br />opportunity (new pit permit proposed for fuhtm gravel extraction). <br />"s. Area. Mining operations shall be confined to the permitted area, but the <br />area of the Lease sba€i include all areas within the permitted area masonably necessity <br />for the operations of1he fait and the pmeessing, storage and transporting of the Materials <br />as set forth herein. The lease area shsl) also include the access mad to the Pit. <br />