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c <br />Ki &MT To 94-11X <br />(.ease Agreement <br />With option to Buy Material <br />This reement is entered into on this <br />� ^ day of October, In the year of 2011," by and between <br />the Owners Warrenand Patricte l,, McDonald whose mailing address Is; 4 County Road 413 <br />Weston, tAla}}tado 81091 and the Company; All Rite Paving & Redi Mix, inc. whose nailing address Is <br />P.O. Box 165 Canon City, Colorado 81215. <br />WITNESS THAT; The owners for the consideration of ONE HUNDRED dailara ($100.00) and further <br />agreement hereby leases to_the Company an exclusive" option for the purpose of purchasing, processing, <br />producing, and removing such material located on land described as follows; <br />SEE A1TACHED EXHIBIT "A" <br />1. Definitions. <br />a. tease Year shall mean a period of one year beginning on the date the Term of the <br />Lease commences, as set forth in Section 2, below, or on any annual anniversary <br />thereof. <br />plant shall mean a portable and /or fixed facility for processing, storing, washing, sorting, handling <br />loading and shipping of !materials, along with ancillary facilities, and shalt also mean a concrete or <br />asphalt batch plant. <br />RE CEIVED <br />NOV ? R 01 <br />b, Ntitejs shall mean stone, sand and gravel and any overburden and valuable solid <br />minerals, other than hydrocarbon minerals such as coal, oil, and gas and assbclated <br />liquid hydrocarbons, that are removed Incident to sand and gravel operations <br />hereunder and which are saleable and recoverable from the Property in the course <br />of such operations, <br />c. Net Sales Ton shalt mean 2000 pounds of Materials from the Property actually sold <br />or,used in Products that are sold, measured o weighted after any processing of such <br />Materials. Processing of Materials from the Property, Including washing of sand and <br />gravel, removes a portion of the tetal pit run Materials mined froin the Property, <br />which Materiels are not salable and not subject to payrnent of Sales Royalty, <br />2, Term. The Term of this lase shall bean initial period of ten years commencing on the <br />day of , 2011 ("Term "). So tong as the Company Is not in default <br />herewwler, the Campany"may obtain a five (5) year extension of the Term after the end of <br />the Initial Term hy written notice to Lessor at least thirty (30) days prior to the end of the <br />Initial Term and payment of the sum of $0. <br />1 <br />