|
GRAVEL LEASE
<br />s, /
<br />This Gravel Lease, dated this 1 day of lgre4 , 2013, (hereinafter
<br />referred to as the "Lease "), by and between Bar Nothing Ranches, LLC C'Lessor"),
<br />whose address is P.O. Box 100 Avondale, CO 81022, and All Rite Paving & Redi Mix,
<br />Inc., a Colorado Corporation ( "the Company "), whose address is P.O. Box 165, Canon
<br />City, CO 81215.
<br />Recitals
<br />In consideration of the sum of ten dollars ($10) paid by the Company to Lessor,
<br />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
<br />demises to the Company the Materials as defined herein, in, on and under the real
<br />property situated in Las Animas County, Colorado, consisting of approximately fifteen
<br />acres and described in Exhibit A attached hereto and made a part of the Lease
<br />(hereinafter referred to as "the Property"), and the exclusive right to sample, drill, and
<br />test for, develop, mine, quarry, extract, process, convey, sell, use, and remove them
<br />during the Term of this Lease. Lessor reserves all rights and privileges of every kind and
<br />nature, except as are herein specifically granted.
<br />Agreement
<br />1. Definitions.
<br />a. Facilities: portable and/or fixed facilities for processing, storing,
<br />washing, sorting, handling, loading and shipping of Materials, along
<br />with ancillary facilities.
<br />b. Lease Year: a period of one year, with the first Lease Year beginning
<br />on the date the Company obtains a permit for access to the public
<br />roadway on terms reasonably satisfactory to the Company, the second
<br />Lease Year beginning the day after the expiration of the first Lease
<br />Year, and so on and so forth until the Lease either expires or is
<br />terminated.
<br />C. Materials. stone, sand, gravel, fines, overburden and other valuable
<br />solid, non - metallic minerals, other than hydrocarbon minerals such as
<br />coal, oil, and gas and associated liquid hydrocarbons, that are removed
<br />incident to sand and gravel operations hereunder and which are
<br />recoverable from the Property in the course of such operations.
<br />d. Minimum Royalty Payment: an annual royalty payment of _ . t,
<br />which shall be paid to Lessor irrespective of whether the Company
<br />engages in mining or development operations on the Property, and
<br />which shall be submitted to Lessor at Lease signing for the First Lease
<br />Lessor's Initials_ &. - Company's Initials
<br />
|