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GRAVEL PROPERTY LEASE
<br />THIS INDENTURE, dated this ) ?L_ day of ?.?_, 20A (hereinafter referred
<br />to as the "Lease.."), by and between Livingston Leigh 'Livestock of Weld County, LLC, A
<br />Colorado Limited Liability Company whose address is 4124 Spring Canyon Ct., Fort Collins,
<br />CO 80525 (hereinafter referred to as "Lessor," whether one or more) and LAFARGE WEST,
<br />INC., a Delaware corporation (hereinafter referred to as the "Company"), with its address at
<br />1800 North Taft Hill Road, Fort Collins, CO 80521, Attention: Front Range Aggregates Land
<br />Manager.
<br />WITNESSETI-I
<br />In consideration of the sum of , paid by the
<br />Company to or on behalf of Lessor, the receipt of which is hereby acknowledged by Lessor, and
<br />on and subject to the terms and conditions provided in this Lease, Lessor hereby leases, lets and
<br />demises to the Company the Materials as defined herein, in, on and under the real property
<br />situate in Weld County, Colorado, and described in Exhibit A attached hereto and made a part of
<br />this Lease (hereinafter referred to as the "Property"), and the exclusive right to sample, drill, and
<br />test for, develop, mine, quarry, extract, process, sell, use and remove them during the Term of
<br />this Lease, along with the right to locate and use easements as defined herein.
<br />1. Definitions.
<br />A. Effective Date shall mean the date first set forth above in the initial
<br />paragraph of this Lease.
<br />B. Lease Year shall mean a period of one year beginning on the Effective
<br />Date, or on any annual anniversary thereof
<br />C. Materials shall mean stone, sand and gravel and any overburden and
<br />valuable solid minerals, other than hydrocarbon minerals such as coal, oil, gas and associated
<br />liquid hydrocarbons, that are removed incident to sand and gravel operations hereunder and
<br />which are saleable and recoverable from the Property in the course of such operations.
<br />D. Net Sale Ton shall mean 2000 pounds of Materials from the Property
<br />actually sold or used in products that are sold, measured or weighed after any processing of such
<br />Materials. Processing of Material from the Property, including washing of sand and gravel,
<br />removes approximately ten to fifteen percent of the total Materials mined from the Property,
<br />which Materials are not salable and not subject to payment of Production Royalty. If the
<br />Company weighs or measures Materials from the Property before processing (such as, but not
<br />limited to, weighing on a conveyor belt scale as it leaves the Property), the Company and Lessor
<br />shall agree upon a fonnula that reasonably reflects the loss of Materials in processing being
<br />experienced by the Company in the vicinity of the Property for purposes of calculating the Net
<br />Sale Tons for Production Royalty purposes.
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