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LEASE AND AGREEMENT <br /> This lease and agreement, made and entered into on <br /> August , 1989, by and between Carolyn S. Kelly ("Lessor") of <br /> , Wisconsin and Wingra Stone Co. , a Wisconsin <br /> corporation, Madison, Wisconsin ("Lessee") . <br /> WHEREAS, Lessor is the owner of the following property; <br /> `.OL ��G The Southwest 1/4 of the Southeast 1/4 of <br /> C Section 14, , 4tangc 7 Fast-r Town <br /> <� of Springdale, Dane County, Wisconsin;--atd- <br /> WHEREAS, Lessee wishes to extract gravel from the <br /> above-described property; <br /> NOW, THEREFORE, the parties agree as follows: <br /> 1. Lessor hereby grants and conveys to Lessee the <br /> exclusive right to remove and carry away limestone rock, sand and <br /> gravel from the above-described property. <br /> 2 . Lessee agrees to keep accurate records of the total <br /> cubic yards of rock, sand and gravel severed from the soil and to <br /> pay Lessor an initial rate of $ per cubic yard for all <br /> sand, gravel or rock quarried from the premises. By May 1, 1991 <br /> and by May 1 of every year thereafter, the parties <br /> agree to renegotiate the rate of payment per cubic yard and amend <br /> this lease and agreement accordingly. If the parties are unable <br /> to agree on a rate of payment by May 1, 1991 or by May 1 of any <br /> subsequent year of renegotiation, Lessor shall have the right to <br /> terminate this lease and agreement upon thirty (30) days ' written <br /> notice to Lessee. <br /> 1JNB6,JJ 1 <br />