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4-YA 6 <br />03/14/2002 02:59 303-526--9006 MIKE QUINLAN PAGE 02 <br />RF"FI IED <br />APa 10 2002 (C(DPY <br />ti *jW d MWw* svd G80W= PXAL PROPERTY LEASE <br />By this lease, entered into on March 15, 2002, Randall L. Robins and Lou Ann Robins called <br />lessor, denuses and lets to Robins Construction Company, LLLP, called lessee, to occupy and <br />to use for a gravel pit operation and related extractive industry purposes, the following real estate <br />located in the County of Conejos, State of Colorado, described as follows: <br />Lot 2, also being known as the NW 1/4 of the NE) /4 of Section 3, <br />Township 32, North, Range 7 East of the New Mexico Principal <br />Meridian, less a tract of land, more particularly described as follows: <br />Beginning of the Southeast corner of the NWI/4 of the NE1/4 of said <br />Section 3, thence West 89 yards 1 foot; thence North 89 yards 1 foot; <br />thence East 89 yards I foot; thence South 89 yards i foot to the place <br />of Beginning as described in Book 163 at Page 365 of Conejos County <br />Records, and consisting of approximately Y'0_ acres. <br />I . TER,?i. The term of this lease shall be from March 15, 2002, to March 15, 2007, and from year <br />to you thereafter unless written notice to terminate is given by either party to the other, at <br />ieast 3 months prior to the beginning of the succeeding lease year. The provisions of this lease <br />shall be binding on the heirs, personal representatives, and assigns of both lessor and lessee <br />in like manner as upon the original parties, unless modified by mutual agreement. <br />i. RENTAL AMOUNT. Lessee agrees to pay lessor, as annual cash rent.for the above-described <br />property, yearly installments of $10,000 each. The first installment is to be paid on March 15, <br />2003, and the other installments are to be paid on each yearly anniversary date thereafter. <br />3. LESSEE DLTTLES AND OBLIGATIONS. Lessee agrees to perform the duties and obligations <br />and to pay the items of expense, listed below: <br />A. Prmdde all the machinery, equipment, and labor necessary to perform operations. <br />B. To faithfully use the property in a safe and proper manner. <br />C. At the termination and vacation of this lease to restore and rehabilitate the property in <br />as good of condition as it is at the commencement of the lease. <br />D. To prevent all unnecessary waste, or loss, or damage to the property of lessor. <br />E. Not to assign this lease or sublet any part of the premises without the written