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.~ <br /> <br /> <br />This Lease, made on the 23rd day of April, 19947, between: <br />San Juan County Mining Venture, <br />a Partnership, <br />Washington dining Company, a Maine <br />corporation, Operator <br />P. 0. Box 177 <br />Silverton, Colorado 81933, <br />Lessor, <br />and <br />I~~ I~~II~~~~II~~ I~~ <br />LEASE AGREEMENT <br />'Phe Board of Commissioners of San Juan <br />County, Colorado <br />P. 0. Box 966 <br />Silverton, Colorado 81933, <br />Lessee, <br />WITNESSETH: <br />E'or a good and sufficient consideration in hand paid and in <br />further consideration of the covenants herein provided,- Lessor <br />grants, leases and lets unto Lessee, on the conditions herein <br />prescribed and without warranty, certain portions of 'the patented <br />claims, located in the Eureka Mining District, described as <br />follo•,rs: Senator, Survey #16809A, Eureka M.S., Survey 8420, and <br />Eureka Power M. S., Survey 8169778, in Protracted Section 19, <br />T92N, 6:•), N.h1.P.M., San Juan County, Colorado, snore particularly <br />described in F.x.hibit "A" appended hereto, herein called the <br />"leased premises". <br />1. Term. The Lease shall continue for a term of five (5) <br />years unless earlier terminated (i) by delivery of a written and <br />recordable termination instrument from Lessee to Lessor and <br />satisfaction of all Lease obliyations• of Lessee to the surrender <br />date; or (ii) at the election of Lessor, if Lessee fails to <br />correct defaults under the Lease, to conduct operations in a <br />manner satisfactory to Lessor, or to satisfy any requirements of <br />federal, state or local authority relating to Lessee's <br />operations, within sixty (6©) days of written request from Lessor <br />for corrective action. <br />2. Use of Property. Lessee shall use the leased premises <br />only for removal, processing, and/or stockpiling of material for <br />a sand/gravel operation under its direct supervision, generall}~ <br />within the boundary marked on the plat appended hereto as <br />_ _ J <br />Reclamation Board and other governmental agencies which concern <br />the use by Lessee of the leased premises. <br />3. Reservations to Lessor. Lessor reserves the right to <br />use the leased premises as a staging area foe its mine operation, <br />if necessary, provided only that such use will be coordinated <br />with the Lessee's representative to minimize disruption of either <br />the Lessee's or Lessor's operations. <br />9. Rental. Lessee shall pay to Lessor, on the anniversary <br />date of the Lease each lease year, the sum of Five Hundred <br />