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LEASE AGREEMENT <br />THIS LEASE AGREEMENT is made and entered into this ? day of 20 by and <br />among, whose address is <br />hereinafter collecti y called LESSOR, and <br />YUMA COUNTY, COLORADO, whose ad ess is-3 10 Ash, Suite A, Wray, CO 80758, hereinafter called LESSEE. <br />? <br />THE INITIAL TERM OF THIS LEASE shall be for a period of ten (10) years, commencing on 201( <br />and ending 20 After the original term of this lease as set forth above, this lease shall renew itself <br />from year to year unless either party notifies the other in writing on or before the 1" day of November in the year prior to <br />which expiration of this lease is desired. <br />WITNESSETH: That the LESSOR has this day leased to the LESSEE a portion of the following described <br />property, as specified in a permit issued by the State of Colorado Mined "Land Reclamation Board, situated in the County <br />of Yuma,; State of Colorado: Township T,3 1y Range n <br />Z W of the 6th P.M. <br />Part of the NON T H Section /s <br />TERMS SPECIFIC TO LESSEE: <br />(a) LESSEE shall be responsible for periodic reclamation of the mined area located on the subject property, as <br />shown in Exhibit A attached, pursuant to the requirements of the permit issued by the State o Colorado <br />Mined Land Reclamation Board. <br />(b) LESSEE will hold the permit issued by the Colorado Division of Reclamation, Mining, and Safe and shall <br />be responsible for keeping the permit valid. <br />(c) LESSEE may not sublease the subject property without the prior written approval of LESSOR. This, provision <br />shall not limit the right of ingress and egress necessary for LESSEE or its customers to mine and transport <br />material from the property. <br />(d) LESSEE will keep records of material removed from the site and shall provide to LESSOR a quarterly report <br />of material removed <br />(e) LESSEE will pay LESSOR $0.45/yard or the current rate of material removed from the site, whichever is <br />greater, subject to annual review and determined by the Yuma County Commissioners. <br />(f) LESSEE agrees to install one (1) cattle guard and one (1) gate with locks at the access road as long as this <br />gravel pit is open and operated by Yuma County; and further agrees to maintain the surface of the right-of- <br />way in a reasonable fashion to protect the adjoining property. This road will be graded and left for landowner <br />access when reclamation is completed. <br />TERMS SPECIFIC TO LESSOR: <br />() LESSOR will pay all property, material-severance, and any other real or personal property taxes, which may <br />be assessed or levied against the property. <br />() LESSOR will oversee the LESSEE'S reclamation of the pit. <br />(:) LESSOR agrees that LESSEE shall have the right of ingress and egress required for the removal of the <br />material anticipated under this Lease Agreement, limited to the now existing road. <br />(d) LESSOR or their agents may inspect the property at any time. <br />(e) LESSOR agrees, without further consideration and in compliance with the request of the L SSEE to <br />cooperate with LESSEE in obtaining and maintaining its permits for the subject property and furthermore, <br />LESSOR agrees not to delay, hinder, or in anyway interfere with the mining operations as long as the <br />LESSEE is not in violation of the terms or conditions of this agreement. <br />(f) LESSOR may obtain a maximum 200 yards of material per year at $2.00 per yard. All material shall be <br />loaded only by authorized LESSEE personnel during normal operations within the pit. <br />(g) LESSOR shall not sell material extracted from the permitted area. <br />(h) LESSOR shall not allow anyone to access or remove material from the permitted area without written <br />approval by the LESSEE. <br />(i) LESSOR, when entering the permitted area, shall abide by all Federal, State, and County regulations. <br />0) LESSOR has the option of having the permitted area fenced at the LESSEE'S expense if deemed necessary. <br />MISCELLANEOUS: This Lease Agreement may be altered, revised, or terminated only upon the written agreement of <br />the parties hereto. <br />IT IS FURTHER EXPRESSLY UNDERSTOOD AND AGREED that this Lease Agreement shall be binding, upon the <br />heirs, executors, administrators and assignees of the respective parties hereto. <br />Dated this - IZ141_ day of 20 <br />LESSEE: LESSOR: <br />YUMA COUNTY, COLORADO <br />By YUMA COUNTY BOARD OF COMMISSIONERS 0In4i jp x( Vl /t(1 <br />Trent Bushner, Chairman <br /> <br />Robin Wiley <br />Dean Wingfield <br />Last Revised 07/14/09