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QUARRY OPERATING AGREEMENT <br /> THIS AGREEMENT made this 27th day of November, <br /> 1985 between MID-CONTINENT RESOURCES , INC. , P. 0. Box 158 , <br /> Carbondale, Colorado, hereinafter referred to as "MID- <br /> CONTINENT or MCR" , and PITKIN IRON CORPORATION, P. 0. Box R, <br /> Carbondale, Colorado, hereinafter referred to as "PITKIN" , <br /> WITNESSETH: <br /> WHEREAS, MCR is the lessee from CF&I Steel of the <br /> Mid-Continent Quarry located North of Glenwood Springs , <br /> Colorado on unpatented placer mining claims , <br /> WHEREAS, MCR has obtained permits for the operation <br /> of the quarry from Garfield County, from U. S. BLM, and <br /> others , <br /> WHEREAS, Pitkin has been operating the Marblehead <br /> Quarry Northeast of Glenwood Springs under contract arrange- <br /> ment with MCR, and the parties desire to extend the contract <br /> arrangement over to the Mid-Continent Quarry under the terms <br /> and conditions hereinafter stated, <br /> THEREFORE IN CONSIDERATION OF THE PREMISES and <br /> the mutual covenants herein contained, IT IS AGREED that <br /> Pitkin shall be and become the operator of the Mid-Continent <br /> Quarry for a period of five year commencing with the date <br /> hereof and ending on December 31, 1990, and from year to <br /> year thereafter unless cancelled by notice in writing by <br /> either party given not less than six (6) months before date <br />