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<br />GRAVEL PROPERTY LEASE WITH RIGHT OF FIRST REFUSAL <br />THIS INDENTURE, dated this -1 day of ? 2004 (hereinafter referred to as <br />the "Lease"), by and between Mr. Timothy Iverson and Jeanne Iverson, whose address is 5011 F <br />Street, Greeley, CO 80631 (hereinafter collectively referred to as "Lessor") and LAFARGE WEST, <br />INC., a Delaware corporation (hereinafter referred to as the "Company"), with its address at 1400 <br />West 60 Avenue, Denver, Colorado 80221, Attention: Front Range Aggregates Land Manager. <br />WITNESSETH <br />In consideration of the sum o paid by the Company to or on <br />behalf of Lessor, the receipt and sufficiency of which is hereby acknowledged by Lessor, and on and <br />subject to the terms and conditions provided in this Lease, Lessor hereby leases, lets and demises to <br />the Company the Materials as defined herein, in, on and under the real properties situate in Weld <br />County and described in Exhibit A attached hereto and made a part of this Lease (hereinafter referred <br />to as the "Property"), and the exclusive right to sample, drill, and test for, develop, mine, quarry, <br />extract, process, sell, use and remove them during the Tenn of this Lease, along with the right to <br />locate and operate and /or sublease aggregate, asphalt and concrete plants and with associated <br />easements as provided herein. <br />1. Definitions. <br />A. Lease Year shall mean a period of one year beginning on the date which the Lease is <br />executed by Lessor or on any annual anniversary thereof <br />B. Materials shall mean stone, sand and gravel and any overburden and valuable solid <br />minerals, other than hydrocarbon minerals such as coal, oil, gas and associated liquid hydrocarbons, <br />that are removed incident to sand and gravel operations hereunder and which are saleable and <br />recoverable from the Property in the course of such operations. <br />C. Plant shall mean a portable and/or fixed facility for processing, storing, washing, <br />sorting, handling loading and shipping of Materials, along with ancillary facilities, and shall also <br />mean a concrete or asphalt batch plant. <br />2. Term. The Term of this Lease shall be an initial period often (10) years commencing <br />on the 1 st day of 2004, and ending on the 30th day of , 2014 ("Term"). The <br />Company may obtain a five (5) year extension of the Term after the end of the initial Term by written <br />notice to Lessor prior to the end of the initial Term. The period of any extension of the initial Term <br />pursuant hereto shall likewise be considered to be within the Term of this Lease.