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2013 -01-21 08:47 <br />RNP ENTERPRISES 9708260489 » <br />This agreement is made A .9,rc.Jh <br />LEASE AGREEMENT <br />201? <br />P V3 <br />t i <br />by Paul G Hertzog and Rosemary <br />Hertzog (lessors) and Russell D. Taylor (lessee) <br />Now therefore for and in consideration of the mutual promise, covenants and agreements of the <br />parties hereto and contemporaneously with the execution of this agreement, the receipt and <br />sufficiency whereof is consideration, lessors do hereby leases to lessee the hereinafter described <br />property upon the following described terms and conditions. <br />I. Property Subject to Lease: Those lands owned by lessors located in Sections 1 through 12 of <br />Township 6 North, Range 95 and Section 6 and 7 of Township 6 North, Range 94 West in Moffat County <br />, Colorado (hereinafter the property). This property is located south of highway 40 and west of County <br />road 74 and runs along the east side of the Yampa River. Except trust property at the northern most <br />portion located at section 63A. <br />2. Purpose of lease: To explore for, remove and stockpile rock, sand, and gravel. To include all <br />operations necessary to make marketable products. <br />3. Limitations on leasehold: Lessee will begin its operations in a double pit, and shall proceed <br />therefrom in a solid and contiguous pattern. Lessee shall have the right to open additional pits, so long <br />as this course of action is not capricious. <br />Lessee shall have the right to process materials removed from the property; however, such <br />processing shall also be confined to a double site. Lessee shall have the right to erect, construct and <br />maintain any buildings, plants, structures, equipment, appliances and other facilities which may be <br />convenient or necessary for carrying out the purposes hereof upon the property. Lessee shall have the <br />right to use, strip and remove parts of the surface of the property and may be reasonably required in <br />the exercise of the rights granted herby, including, but not limited to the right to place, pile or dump <br />dirt, refuse or material or substances of any kind normally produced by the type of operation <br />contemplated hereby. <br />In addition, lessee shall have the right to conduct any other business or operations upon portions of <br />the property, which business or operations use products mined and removed from the property. Lessee <br />shall have the right to adjudicate water rights for its use upon the property. <br />4. Term of lease: this lease shall begin on the date of the Issuance of all necessary permits in order to <br />conduct operations and shall continue so long as the terms and conditions hereof are met by lessee, but <br />for a period not to exceed a 10 year period. This lease is non - transferable without written permission <br />from lessor. This lease also supersedes any and all preceding leases agreements regarding above <br />mentioned property. <br />