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GRAVEL PIT LEASE
<br />THIS LEASE entered into as of this/ day of June, 2012, in Bent County, Colorado, by and between
<br />KENNETH K. WAGNER AND JEAN MARIE WAGNER, whose address is 25790 C.R. 9, Las Animas,
<br />Colorado, 81054 hereinafter called and referred to as LESSOR, and the CITY OF LAS ANIMAS, COLORADO,
<br />a duly authorized political subdivision of the State of Colorado, whose address for notice is P.O. Box 468, Las
<br />Animas, Colorado, 81054, hereinafter called and referred to as LESSEE,
<br />WITNESSETH:
<br />WHEREAS, Lessee is authorized by the provisions of C.R.S. 30- 11- 107(1)(h) to do all things necessary
<br />regarding public roadways within the City of Las Animas, Colorado, including construction and maintenance of
<br />same, and therefore has need of supplies of rock, sand, gravel and earth fill; and
<br />WHEREAS, Lessor is the owner of, or otherwise in control of, certain premises, hereinafter described,
<br />which are suitable for the mining of materials needed by Lessee,
<br />NOW, THEREFORE, in consideration of the premises, the mutual covenants, promises, doings, and
<br />things hereinafter set forth, and the payments hereinafter provided, the parties hereto do now agree as follows:
<br />1. PURPOSE OF AGREEMENT — That Lessor does hereby lease, let, rent, and demise unto
<br />Lessee, and Lessee does accept said lease of Lessor, certain premises for the mining of rock, sand, gravel, and
<br />other earth fill materials, upon terms and conditions as hereinafter set forth.
<br />2. LEASED PREMISES — The premises to be let unto Lessee are as follows, to -wit:
<br />79.09 Acres on a tract of land lying in Bent County, Colorado, in the S /2SE/4
<br />of Section 28 of Township 23 South, Range 52, West of the 6th P.M.
<br />3. TERM OF LEASE — The within lease shall commence immediately as of the date hereof, and
<br />shall be in effect for a period of five (5) years, unless said premises shall be sooner exhausted for raining purposes.
<br />4. RENTALS -
<br />a. Lessee shall not make a payment to the Lessor for the use of this property.
<br />5. REAL PROPERTY TAXES — Lessor, as owner of the demised premises, shall continue to be
<br />responsible for timely payment of all real property taxes assessed upon the demised premises.
<br />6. RENEWAL OF TERM — The within agreement shall be renewable for one succeeding term of
<br />five (5) years. A party may renew the lease by providing written notice to the other party of its intent to renew at
<br />least 30 days prior to the expiration of the initial lease term.
<br />7. REGULATORY COMPLIANCE — Lessee shall be responsible for obtaining all needed permits,
<br />consents, and permissions in respect of the operation of the demised premises, from any regulatory agency having
<br />jurisdiction over the same, which activity shall be conducted at Lessee's cost and expense.
<br />Both parties are aware and understand that regulatory requirements will be such that the demised premises
<br />must be reclaimed, upon completion of mining activities, to acceptable standards. Lessee, if allowed to mine the
<br />premises to exhaustion of acceptable materials, shall be responsible for all costs and expenses of reclamation. If
<br />the within lease shall be terminated prior to exhaustion of acceptable materials, then Lessee shall only be
<br />responsible for a prorated portion of reclamation expenses, based upon the total volume of materials taken by
<br />Lessee contrasted with total volume of materials available at the site.
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