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By stating a royalty and or surface damage fee herein Lessee in no way guarantees any minimum <br />production. Furthermore, Lessee is not obligated to engage in mining or production to maintain this lease <br />during the term hereof, it being the intent of the parties that the lease be held by the Annual Rental stated <br />above. <br />4. PAYMENT By the 20th of each month during the term hereof, Lessee shall compute <br />all royalties due Lessor hereunder and prepare an invoice for submission to the Board of County <br />Commissioners. Lessor shall be paid pursuant to Lessee's routine procedures. <br />5. RECORDS Lessee shall, at all times, keep written records of the amounts of material <br />removed from Property, which records shall be available to Lessor for the purpose of verifying. <br />6. RECLAMATION Lessee agrees it will reclaim the portion of the Property from which it <br />removed sand and gravel in accordance with the requirements of the Division of Reclamation of the State of <br />Colorado. Lessee shall have the right of access to the Property subsequent to completion of its mining, to <br />complete all necessary reclamation, which right shall continue for not more than five (5) years after <br />cessation of mining. <br />During the reclamation, and for any sand and gravel to which a royalty has been paid, Lessee may <br />remove any sand and gravel stockpiled during mining. <br />7. NON-APPROPRIATION: Lessor and Lessee agree that the revenues and expenditures <br />hereunder shall constitute current expenditures and revenues payable and receivable in the fiscal years for <br />which funds are appropriated for the payment thereof The obligations of Lessee under this agreement shall <br />be from year to year only and shall not constitute a multiple-fiscal year direct or indirect debt or other <br />financial obligation or any obligation payable in any fiscal year beyond the fiscal year for which funds are <br />appropriated for the payment thereof or payable from any funds other than funds appropriated for the <br />payment of current expenditures. No provision of this agreement shall be construed to pledge credit or to <br />create a lien on any class or source of Lessee's monies. Notwithstanding any termination, Lessee shall <br />remain liable for any amounts for sand and gravel mined for which royalties were not paid. <br />8. FINAL ACCEPTANCE The final acceptance of the Sand and Gravel Lease is contingent <br />on the application being accepted by the Division of Reclamation of the State of Colorado issuing Lessee <br />an appropriate mining permit. <br />IN WITNESS WHEREOF. the parties hereto have set their hands and seals. <br />L SSOR: <br />Y? ..T>L K-f1NL <br />(SEAL) <br />(SEAL) <br />DATE: <br />(SEAL) <br />(SEAL) <br />(SEAL) <br />THE BOARD OF COUNTY COMMISSIONERS <br />OF THE COUNTY OF MOFFAT, STATE OF,.,,_ <br />?.= ; •?? C it r ??:±'t? <br />cl? i rMr'y1 lJCtlt,) <br />DATE: