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LEASE AGREEMENT <br />THIS LEASE AGREEMENT ("this Lease"), made and entered into as of December 28, <br />2008 ("Lease Date"), by and between GILCREST RESERVOIR, L.L.C., a Colorado limited <br />liability company ("Lessor"), the mailing address of which, for purposes of this Lease, is c/o The <br />Bromley Companies, L.L.C., 5460 South Quebec Street, Suite 110, Greenwood Village, CO <br />80111, and PLATTE SAND & GRAVEL, LLC, a Colorado limited liability company ("Lessee"), <br />the mailing address of which, for purposes of this Lease, is 5490 West 13th Avenue, Lakewood, <br />Colorado 80124. <br />WITNESSETH: <br />WHEREAS, Lessor owns or has possession of the parcels of real estate which are legally <br />described on Exhibit A attached hereto and incorporated herein by reference (separately the <br />"Land" or the "Pro er "); and <br />WHEREAS, Lessor owns certain sand and gravel rights located upon a portion of the <br />Land; and <br />WHEREAS, Lessee has previously conducted a sand and gravel mining operation (the <br />"Sand and Gravel Operations") on approximately 800 acres of the Property for which a mining <br />permit has been issued by the State of Colorado, which portion of the Property is identified on <br />Exhibit B and referred to herein as the "Mining Property" and <br />WHEREAS, Lessee desires to continue to conduct sand and gravel operations on the <br />Mining Property; and <br />WHEREAS, Lessor desires to lease to Lessee, and Lessee desire to lease from Lessor, the <br />Mining Property and certain other assets which are described herein (collectively, the "Leased <br />Premises" or "Premises") to enable Lessee to conduct the Sand and Gravel Operations on and <br />subject to the terms and conditions in this Lease. <br />ARTICLE 1 <br />LEASE OF THE LEASED PREMISES <br />1.1 Demise. Lessor does hereby lease, demise, and let unto Lessee, and Lessee does <br />hereby hire and take fiom Lessor, the Leased Premises on and subject to the terms and conditions <br />in this Lease. <br />1.2 Property Leased. The Leased Premises shall include the Mining Property, <br />together with the following specific assets related thereto: <br />(a) All rights, title, and interest of Lessor in and to any utility taps or other <br />utility hookups belonging or in any way appertaining to the Mining Property that have <br />historically been used in connection with the Sand and Gravel Operations. <br />(00685550 / 6)