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Additionally, when and if, Landlord acquires the property described on Exhibit B, such property shall additionally <br />be subiect to the Lease Agreement. <br />The above described property to be herein referred to as the Premises. <br />The initial term of the Lease Agreement shall begin on the day the Tenant obtains the necessary permits <br />and is expressly contingent upon approvals from the Division of Reclamation, Mining and Safety, State of <br />Colorado, the County of Grand, Board of County Commissioners/their agents, and any other appropriate <br />government authority and continue for ten (10) years. Should the Tenant fail to obtain the permits by July 1, 2011 <br />this lease shall become null and void. Tenant shall have the option to extend the term of the Lease Agreement for <br />two (2) additional five (5) year terms upon written notice sent to Landlord at least thirty (30) days prior to the term <br />then in effect. Any extensions so made shall be upon the same terms and conditions as contained herein. Any sale <br />of the Premises shall be subject to the terms of this Lease Agreement. If in the event, for any reason Tenant <br />defaults under the terms of this Lease Agreement any permits and approvals obtained by Tenant shall revert to <br />Landlord. <br />1. Landlord covenants that on performing the covenants contained in this Lease Agreement, Tenant shall <br />peacefully and quietly have, hold, and enjoy the demised Premises, for the use of the Premises for quarrying, <br />mining, removing, crushing, processing of mined materials, asphalt production, concrete batch plant, concrete <br />production, and marketing of all sand, gravel, rock, dirt, soil, and fill material, ingress and egress to and from the <br />Premises and easements for utilities for permitted activities upon the Premises. The location of the permitted area to <br />be mined shall be approved by the Landlord before any permits or amendments to any permits are applied for <br />which approval shall not be unreasonably withheld. All of the above activities to be conducted pursuant to <br />Tenant's permits and by the authority of the said permits issued by the Colorado or Grand County governments. <br />Any bond(s) required by such permits shall be at the sole expenses of Tenant. All top soil to be stored upon the <br />Premises for reclamation and not to be sold as a product of the intended operations herein. <br />