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Home My WebLink About20252809.tiffResolution Approve Large -Tract Oil and Gas Lease (SW1/4, S24, T7N, R63W), and Authorize Chair to Sign — Bison IV Properties Colorado, LLC Whereas, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and Whereas, Weld County, Colorado, is the owner of vast acres of mineral lands located in Weld County, Colorado, and Whereas, the Department of Purchasing was authorized to solicit bids for lease of a portion of said mineral acres not currently leased, and Whereas, Bison IV Properties Colorado, LLC, 518 17th Street, Suite 1800, Denver Colorado 80202, submitted the high bid to lease 160 net mineral acres, more or less, described to -wit: SW114 of Section 24, Township 7 North, Range 63 West of the 6th P.M., Weld County, Colorado Whereas, Weld County desires to accept the high bid offer submitted by Bison IV Properties Colorado, LLC, to lease the above described mineral acreage for $2,500.00 per net mineral acre, for a total sum of $400,000.00, which lease is to run for a period of three (3) years, commencing October 15, 2025, and ending at 12:00 noon on October 15, 2028, unless otherwise held, as stated in the lease agreement which is attached hereto and incorporated herein by reference. Now, therefore, be it resolved by the Board of County Commissioners of Weld County, Colorado, that the high bid offer of Bison IV Properties Colorado, LLC, be, and hereby is, accepted for a period of three (3) years. Be it further resolved by the Board that the Chair be, and hereby is, authorized to sign said lease. cc, Pi/R., GT13C5TZi It /06/.25 2025-2809 LE0169 Large -Tract Oil and Gas Lease (SW1/4, S24, T7N, R63W) — Bison IV Properties Colorado, LLC Page 2 The Board of County Commissioners of Weld County, Colorado, approved the above and foregoing Resolution, on motion duly made and seconded, by the following vote on the 15th day of October, A.D., 2025: Perry L. Buck, Chair: Aye Scott K. James, Pro-Tem: Aye Jason S. Maxey: Aye Lynette Peppler: Aye Kevin D. Ross: Aye Approved as to Form: Bruce Barker, County Attorney Attest: Esther E. Gesick, Clerk to the Board 2025-2809 LE0169 Weld County Large -Tract Oil and Gas Lease Containing the following acres, more or less: Containing the following net mineral acres, more or less: 160 This lease agreement is dated: This lease agreement expires: October 15, 2025 October 15, 2028 160 Made and entered into by and between Weld County, Colorado, a political subdivision of the State of Colorado, acting by and through the Board of County Commissioners of the County of Weld, for its respective interests, do Board of County Commissioners, 1150 O Street, P.O. Box 758, Greeley, Colorado 80632, hereinafter called Lessor, and the following, hereinafter called Lessee: Bison IV Properties Colorado, LLC, 518 17th Street, Suite 1800, Denver, CO 80202 Whereas, said Lessee has applied to Lessor for an oil and gas lease covering the land herein described, and has paid all required fees as described below, as an additional consideration for the granting of this lease: Filing fee in the amount of: $10.00 Bonus consideration totaling: $400,000.00 Bonus consideration calculated at (per mineral acre): $2,500.00 Lessee agrees to pay the following annual rental, calculated at the rate of $2.50 per mineral acre: Annual rental fee: $400.00 Whereas, all the requirements relative to said application have been duly complied with and said application has been approved and allowed by Lessor; Therefore, in consideration of the agreements herein, on the part of Lessee to be paid, kept and performed, Lessor does lease exclusively to Lessee for the sole and only purpose of drilling for, development of and production of oil and gas, or either of them, thereon and therefrom with the right to own all oil and gas so produced and saved therefrom and not reserved as royalty by Lessor under the terms of this lease, together with rights -of -way, easements and servitudes for pipelines, telephone and telegraph lines, tanks and fixtures for producing and caring for such product, and housing and boarding employees, and any and all rights and privileges necessary for the exploration and operation of said land for oil and gas, the following described land situated in the County of Weld, State of Colorado, and more particularly described as follows: Section: 24 Township: 7N Range: 63W 0061400 Pages: 1 of 17 10/27/2025 10:03 AM R Fee:$0.00 Carly Koppel, Clerk and Recorder, Wald County , CO VIII N cit'1liILr liNICIIIII U 1i:14%1111.N N III ilyi 11 II 2025-2809 I bA5 LE,Olkocl Description of Land (attach exhibit if additional space is required): SW1/4 of Section 24, Township 7 North, Range 63 West To have and to hold said land, and all the rights and privileges granted hereunder to Lessee until the hour of twelve o'clock noon on the primary term of: 10-15-28 So long thereafter as oil and gas, or either of them, is produced in paying quantities from said land or Lessee is diligently engaged in bona fide drilling or reworking operations on said land, subject to the terms and conditions herein. Drilling or reworking operations shall be deemed to be diligently performed if there is no delay or cessation thereof for a greater period than sixty (60) consecutive days, unless an extension in writing is granted by Lessor; provided that such drilling or reworking operations are commenced during said primary term or any extension thereof, or while this lease is in force by reason of production of oil and gas or either of them, or that such reworking is commenced within (60) sixty days upon cessation of production for the purpose of re-establishing the same, and provided further that such production is commenced during such primary term or any extension thereof, or while this lease is in force by reason of such drilling or reworking operations or other production. Exploration: Lessor reserves the right to conduct exploration on the leased land provided such exploration does not interfere with rights granted herein. In consideration of the premises, the parties covenant and agree as follows: 1. Rental: If this lease is extended for an additional term as provided for in the Extension paragraph hereof, Lessee shall pay to Lessor the sum of Two and 50/100 Dollars ($2.50) per acre for the land covered hereby as delayed rental for the term of the extension. Rentals set at the time of established production shall be paid during the remaining life of this lease, annually, in advance, on or before each anniversary date hereof. There shall be no refund of unused rental. 2. Royalty Provisions: a. Lessee Responsible for All Costs/Expenses: Lessee shall account for any and all substances produced on the leased land and shall pay to Lessor as royalty, in addition to the rentals provided, the royalties described in paragraphs B through E below, which shall be free of all costs of any kind. In this regard, Lessee agrees to bear one hundred percent (100%) of all costs and expenses incurred in rendering hydrocarbons produced on or from the Leased Premises marketable and delivering the same into the purchaser's pipeline for immediate transportation to an end user or storage facility. If a gas purchase contract makes any deductions for the expenses of Page 2 of 17 'Anil rein+� i .me -Tract Oil and Gas Lease 5061499 Pages: 2 of 17 4pril 30, 2025 10/27/2020 10:03 AM R Fee:$0.00 Carly Koppel, Clerk and Recorder, Weld County , CO II dehydrating, transporting, compressing, manufacturing, processing, treating, gathering or marketing of such gas, then such deductions shall be added to the price received by Lessee for such gas for the purpose of the payment of royalties to Lessor. Additionally, royalties payable to Lessor shall never bear, either directly or indirectly, under any circumstances, the costs or expenses (including depreciation) to construct, repair, renovate or operate any pipeline, plant, or other facilities or equipment used in connection with the treating, separation, extraction, gathering, processing, refining, transporting, manufacturing or marketing of hydrocarbons produced from the Leased Premises or lands pooled therewith. It is the intent of the parties that the provisions of this Paragraph 2 are to be fully effective and enforceable. b. Royalty Payment on Products: On products, Lessee shall pay Lessor a royalty payment of twenty-two and one half percent (22.5%) of the gross market value or proceeds of sale thereof, whichever is higher. c. Royalty Payment on Residue Gas: On residue gas or gas remaining after separation, extraction or processing operations, Lessee shall pay Lessor twenty-two and one half percent (22.5%) of the proceeds of sale or of the market value thereof, whichever is higher. d. Royalty Payment on Oil: At the option of Lessor, and with sixty (60) days notice to Lessee, Lessor may take its royalty oil in kind, in which event Lessee shall deliver such royalty oil to Lessor on the leased land, free of cost or deduction, into the pipelines or storage tanks designated by Lessor, but Lessee shall not in such case be required to provide free tankage for any such oil for a longer period than one month after the same is run into tanks. With sixty (60) days' notice to Lessee, Lessor may cease taking oil royalty in kind. When paid in cash, Lessee shall pay Lessor for oil produced and saved from the leased land, twenty-two and one half percent (22.5%) the market value of the oil at the wellhead, or the price actually paid to Lessee at the well by the purchaser thereof, whichever is higher; and in no event shall the royalties be based upon a market value at the well less than the posted price in the field for such oil, or in the absence of a posted price in the field for such oil, upon a market value at the well less than the prevailing price received by other producers in the field for oil of like grade and gravity at the time such oil is run into pipelines or storage tanks. e. No Refund of Bonus: If Lessor owns a lesser interest in the oil and gas deposits of the above -described land than the entire and undivided fee simple estate, then the royalties and rentals herein provided shall be paid to Lessor only in the portion which its interest Page 3 of 17 %Ahml d cni into I arse -Tract Oil and Gas Lease 3061499 Pages: 3 of 17 1 April 30, 2025 10/27/2025 10:03 AM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County , CO inet(1' Li "Ill bears to the whole and undivided fee, but no refund of any bonus consideration shall be made by Lessor hereunder. f. Timing of Royalty Payments: All royalties payable under the terms of this lease shall be payable in cash (unless Lessor elects to take such royalty oil or gas in kind) to Lessor within one hundred twenty (120) days following the first commercial sale of production and thereafter no more than sixty (60) days after the end of the month following the month during which production takes place. Subject to the provisions of Paragraph 16 of this Lease concerning shut-in wells, royalties shall be paid to Lessor by Lessee and/or its assigns or by the product purchaser for oil and/or gas. Upon the failure of any party to pay Lessor the royalty as provided in this paragraph, Lessor may, at Lessor's option, elect to terminate this Lease by sending written notice to Lessee. Lessee shall then have forty-five (45) days from the date of service of such written notice in which to avoid termination of this Lease by making or causing to be made the proper royalty payment or payments that should have been paid. If such royalty payment is not made on, or before, the expiration of the 45 -day period, or written approval is not obtained from Lessor to defer such payment, Lessor may elect to terminate this Lease by filing a Notice of Termination with the Weld County Clerk and Recorder. The effective date of said termination shall be the date said Notice of Termination is recorded. g. Effect of "Take or Pay Provision": In the event Lessee enters into a gas purchase contract which contains what is commonly referred to as a "take or pay provision" (such provision meaning that the gas purchaser agrees to take delivery of a specified minimum volume or quantity of gas over a specified term at a specified price or to make minimum periodic payments to the producer for gas not taken by the purchaser) and the purchaser under such gas purchase contract makes payment to Lessee by virtue of such purchaser's failure to take delivery of such minimum volume or quantity of gas, then Lessor shall be entitled to twenty two and one half percent (22.5%) of all such sums paid to Lessee or producer under the "pay" provisions of such gas purchase contract. Such royalty payments shall be due and owing to Lessor within sixty (60) days after the receipt of such payments by Lessee. If the gas purchaser "makes up" such gas within the period called for in the gas contract and Lessee is required to give such purchaser a credit for gas previously paid for but not taken, then Lessor shall not be entitled to royalty on such "make up" gas. If Lessee is not producing any quantities of gas from the Leased Premises but is receiving payments under the "pay" portion of such "take or pay" gas purchase contract provision, such payments shall not relieve Lessee of the duty to make shut-in royalty payments if 5001499 Pages: 4 of 17 10/27/2025 10:03 AM R Fee:$0.00 Carly Kopp.., Clerk and Recorder, Weld County , CO Mb 11111 Page 4 of 17 Tract Oil and Gas Lease kpril 30, 2025 Lessee desires to continue this Lease, but such "take or pay" royalty payments shall be applied as a credit against any shut-in royalty obligation of the Lessee. Lessor shall be a third -party beneficiary of any gas purchase contract and/or transportation agreement entered into between Lessee and any purchaser and/or transporter of Lessor's gas, irrespective of any provision of said contracts to the contrary, and such gas purchase contract and/or transportation agreement will expressly so provide. Further, Lessor shall be entitled to twenty-two and one half percent (22.5%) of the value of any benefits obtained by, or granted to, Lessee from any gas purchaser and/or transporter for the amendment, modification, extension, alteration, consolidation, transfer, cancellation or settlement of any gas purchase contract and/or transportation agreement. h. Recovery of Liquid Hydrocarbons: Lessee agrees that before any gas produced from the Leased Premises is used or sold off the Leased Premises, it will be run, free of cost to Lessor, through an adequate oil and gas separator of a conventional type or equipment at least as efficient, to the end that all liquid hydrocarbons recoverable from the gas by such means will be recovered on the lease and Lessor properly compensated therefor. i. Excess Payments to Lessor: Any payment of royalty or shut-in gas royalty hereunder paid to Lessor in excess of the amount actually due to the Lessor shall nevertheless become the property of the Lessor if Lessee does not make written request to Lessor for reimbursement within one (1) year from the date that Lessor received the erroneous payment, it being agreed and expressly understood between the parties hereto that Lessor is not the collecting agent for any other royalty owner under the lands covered hereby, and a determination of the name, interest ownership and whereabouts of any person entitled to any payment whatsoever under the terms hereof shall be the sole responsibility of Lessee. It is further expressly agreed and understood that: (i) this provision shall in no way diminish the obligation of Lessee to make full and punctual payments of all amounts due to Lessor or to any other person under the terms and provisions of this Lease, and (ii) any overpayments made to the Lessor under any provisions of this Lease shall not be entitled to be offset against future amounts payable to parties hereunder. J• Effect of Division Order: The terms of this Lease may not be amended by any division order and the signing of a division order by any mineral owner may not be made a prerequisite to payment of royalty hereunder. 3091499 Pages: 5 of 17 10/27/2020 10:03 AM R Fee:$0.00 Carly Kopp's, Clerk and Recorder, Weld County , CO IFIATUrIlifi.frigIVOIUNIIIMAIAlli II III Page 5 of 17 Tract Oil and Gas Lease ,pril 30, 2025 k. Limitation of Sale to Subsidiaries and/or Affiliates: Oil, gas or products may not be sold to a subsidiary or affiliate of Lessee as defined herein without the Lessor's prior written permission. I. Royalty Payable on All Gas Produced: Lessee shall pay Lessor royalty on all gas produced from a well on the Leased Premises and sold or used off the Leased Premises, regardless of whether or not such gas is produced to the credit of Lessee or sold under a contract executed by or binding on Lessee. Should gas be sold under a sales contract not binding on Lessee, Lessor's royalty will be calculated based on the highest price paid for any of the gas produced from the well from which such gas is produced. In no event will the price paid Lessor for Lessor's share of gas be less than the price paid Lessee for Lessee's share of gas. 3. Lessor's Access to Leased Property and Records: a. Records Generally: Lessee agrees to keep and to have in its possession complete and accurate books and records showing the production and disposition of any and all substances produced on the leased land and to permit Lessor, at all reasonable hours, to examine the same, or to furnish copies of same to Lessor upon request along with purchaser's support documentation. Lessor will not be unreasonable with requests. All said books and records shall be retained by Lessee and made available in Colorado to Lessor for a period of not less than five (5) years. b. Access to Premises: Lessor shall have free access, at all times, to all wells, tanks, and other equipment on the Leased Premises, including drilling wells, and Lessee agrees to furnish Lessor, or Lessor's nominee, currently and promptly, upon written request, with full well information including cores, cuttings, samples, logs (including Schlumberger and other electrical logs), copies and results of deviation tests and directional and seismic surveys, and the results of all drill stem tests and other tests of other kind or character that may be made of wells on the Leased Premises. Lessor or Lessor's nominee shall be furnished with, and have free access at all times to, Lessee's books and records relative to the production and sale of oil, gas or other minerals from the Leased Premises, including reports of every kind and character to local, State or Federal governmental authorities. Lessor shall have the right, at its election, to employ gaugers or install meters to gauge or measure the production of all minerals produced from the premises, and Lessee agrees to prepare and deliver to Lessor or Lessor's gauger or nominee duplicate run or gauge tickets for all minerals removed Page 6 of 17 .`"^„-h, I .rnp_Tract Oil and Gas Lease 5061499 Pages: 6 of 17 April 30, 2025 10/27/2020 10:03 AM R Fee:$0.00 Carly Kopp... Clark and Recorder, Weld County , CO IIIII MMI hiatlell %if III II from the premises. Lessee shall furnish to Lessor daily drilling reports on each well drilled upon request. c. Gas Purchase Agreements/Gas Contracts: At least thirty (30) days prior to the delivery or the execution of any contract for the sale, delivery, transporting or processing of gas produced from the Leased Premises, Lessee shall provide Lessor with a complete copy of each proposed contract for the purchase, transportation and/or processing of such gas that Lessee intends to execute (each a "Gas Contract"), whereupon, Lessor may object if the terms of said Gas Contract conflict with the terms and conditions of this Lease. Lessee shall furnish to Lessor, within a reasonable time after its execution, a copy of any Gas Contract or transportation agreement entered into in connection with the Leased Premises, or if there is already a Gas Contract or transportation agreement in effect due to Lessee's operations in the field, then a copy of that contract. Furthermore, a copy of any amendments to the gas purchase contract or transportation agreement shall be furnished said Lessor within thirty (30) days after execution thereof; and on request of Lessor and without cost to the Lessor, Lessee shall furnish Lessor a copy of the following reports: core record, core analysis, well completion, bottom hole pressure measurement, directional survey records, electrical and induction surveys and logs, gas and oil ratio reports, paleontological reports pertaining to the paleontology of the formations encountered in the drilling of any wells on the Leased Premises, and all other reports which pertain to the drilling, completing or operating of the wells located on the Leased Premises. Such information shall be solely for Lessor's use, and Lessor shall attempt to keep same confidential for twelve (months after receipt, subject to its obligation to comply with the Public Records requirements under Colorado law. Lessee agrees that it will not enter into any contract for the sale, delivery, transporting or processing of gas produced from the Leased Premises which shall extend more than two (2) years from the effective date of such sales contract unless such contract has adequate provisions for redetermination of price at intervals of no less frequency than one (1) year to ensure that production from this Lease is not being sold for less than the then current market value. d. Lessee to Advise Regarding Well Status: Lessee shall advise Lessor, in writing, of the location of all wells drilled upon the Leased Premises on or before thirty (30) days prior to commencement of operations, and shall advise Lessor, in writing, the date of completion and/or abandonment of each well drilled within thirty (30) days after completion or abandonment. 5061499 Pages: 7 of 17 10/27/2025 10:03 AM R Fee:$0.00 Carly Kopp., Clark and Recorder, Wald County , CO IllirlarAWICrinliillitnrillbliViivi III II Page 7 of 17 -Tract Oil and Gas Lease April 30, 2025 4. Measurements: All production shall be accurately measured using standards established by the American Gas Association (AGA) and/or the American Petroleum Institute (API) and all measuring devices shall be tamper proof as nearly as possible. Oil royalties due within the terms of this lease shall be calculated on actual and accurate measurements within API standards unless a different means of measurement, subject to Lessor's approval, is provided. 5. Payments and Reports: All payments and reports due hereunder shall be made on or before the day such payments and reports are due. Nothing in this paragraph shall be construed to extend the expiration of the primary term hereof. Oil royalty payments and supporting documents shall be submitted prior to the last day of the month following each month's sale of production, and gas royalty payments and supporting documents shall be submitted prior to the last day of the second month following each month's sale of production. All payments shall be made by cash, check, certified check, or money order. Payment having restrictions, qualifications, or encumbrances of any kind whatsoever shall not be accepted by Lessor. A penalty for a late payment shall be charged as set forth in the Penalties paragraph herein. 6. Penalties: A penalty shall be imposed for, but not limited to, late payments, improper payments, operational deficiencies, violation of any covenant of this lease, or false statements made to Lessor. Penalties shall be determined by Lessor, unless otherwise provided for by law, and may be in the form of, but not limited to, interest, fees, fines, and/or lease cancellation. A penalty schedule shall be prepared by Lessor and shall become effective immediately after public notice. Said schedule may be changed from time to time after public notice. 7. Law: The terms and conditions of this lease shall be performed and exercised subject to all laws, rules, regulations, orders, local ordinances or resolutions applicable to, and binding upon, the administration of lands and minerals owned by the County of Weld, and to laws, rules and regulations governing oil and gas operations in Colorado. Violations shall result in penalties as provided for by law or as set forth in the aforementioned schedule or shall, at the option of Lessor, result in default as provided hereinafter. 8. Surrender: Lessee may at any time, by paying to Lessor all amounts then due as provided herein, surrender this lease insofar as the same covers all or any portion of the land herein leased and be relieved from further obligations or liability hereunder with respect to the land so surrendered; provided that this surrender clause and the option herein reserved to Lessee shall cease and become absolutely inoperative immediately and concurrently with the institution of any suit in any court of law by Lessee, 3081499 Pages: 8 of 17 10/27/2025 10:03 AM R Fee:$0.00 Carly Kopp., Clerk and Recorder, Weld County , CO II Page 8 of 17 Tract Oil and Gas Lease °pril 30, 2025 Lessor or any assignee of either to enforce this lease, or any of its terms expressed or implied. In no case shall any surrender be effective until Lessee shall have made full provision for conservation of the leased products and protection of the surface rights of the leased land. 9. Assignments: a. Fee for Assignments: Lessee, upon payment of a $100.00 fee and prior written consent of Lessor (which shall not be unreasonably withheld), shall have the right to assign the entire leasehold interest of said Lessee in all or part of the land covered hereby. Prior to written approval by Lessor of assignment of this lease, Lessee (assignor) shall not be relieved of its obligations under the terms and conditions herein. An assignment shall not extend the term of this lease. b. Partial Assignment: If any assignment of a portion of the land covered hereby shall be approved, a new lease shall be issued to the assignee covering the assigned land, containing the same terms and conditions as this lease, and limited as to term as this lease is limited, and the assignor shall be released and discharged from all further obligations and liabilities as to that portion so assigned. c. Lessee to Notify: Lessee shall notify Lessor of all assignments of undivided percentage or other interests. Said interests will not be recognized or approved by Lessor, and the effect of any such assignments will be strictly and only between the parties thereto, and outside the terms of this lease, and no dispute between parties to any such assignment shall operate to relieve Lessee from performance of any terms or conditions hereof or to postpone the time therefore. Lessor shall at all times be entitled to look solely to Lessee or his assignee shown on its books as being the sole owner hereof, and for the sending of all notices required by this lease and for the performance of all terms and conditions hereof. d. Filing with Lessor: Although not binding on Lessor, all instruments of every kind and nature whatsoever affecting this lease should be filed with the Lessor. 10.Overriding Royalty: Any and all reservations or assignments or overriding royalties shall be subject to approval by Lessor. The total of said overriding royalties shall not exceed five percent (5%), including any overriding royalty previously provided for unless production exceeds a monthly average of fifteen (15) barrels per day or ninety thousand cubic feet of gas per day (90 MCF/D). In the event production drops to this amount or less, any overriding royalties which exceed five percent (5%) may be suspended. Page 9 of 17 Weld County Large -Tract Oil and Gas Lease 5061499 Pages: 9 of 17 )ril 30, 2025 10/27/2025 10:03 AM R Fee:$0.00 Carly Koopes, Clerk and Recorder, Weld County , CO VIII MIIIIMIYIPIIIIIVIWINWPGIRM I Milk Ill III Lessor's approval of a reservation or assignment of an overriding royalty shall not bind Lessor for payment of said overriding royalty and shall not relieve Lessee of any of its obligations for payment of royalties to Lessor as provided by Royalty paragraphs herein. 11.Offset Wells: Lessee agrees to protect the leased land from drainage by offset wells located on adjoining lands not owned by Lessor, when such drainage is not compensated for by counter -drainage. It shall be presumed that the production of oil and gas from offset wells results in drainage from the leased land, unless Lessee demonstrates to Lessor's satisfaction, by engineering, geological, or other data, that production from such offset well does not result in such drainage, or that the drilling of a well or wells on the leased land would not accomplish the purposes of protecting the deposits under the leased land. Lessor's decision as to the existence of such drainage shall be final, and Lessee shall comply with Lessor's order thereon or surrender this lease as to any such undeveloped acreage as designated by Lessor. 12. Development: Upon discovery of oil and gas or either of them on the leased land, Lessee shall proceed with reasonable diligence to develop said land at a rate, and to an extent, commensurate with the economic development of the field in which the leased land lies. 13. Pooling Clause: Lessee may at any time or times pool any part or all of said land or lease or any stratum or strata with other lands and leases, stratum or strata, in the same field so as to constitute a spacing unit to facilitate an orderly or uniform well -spacing pattern or to comply with any order, rule, or regulation of the State or Federal regulatory or conservation agency having jurisdiction. Such pooling shall be accomplished or terminated by filing of record and with the Colorado Oil and Gas Conservation Commission a declaration of pooling, or declaration of termination of pooling, and by mailing or tendering a copy to Lessor. Drilling or reworking operations upon or production from any part of such spacing unit shall be considered for all purposes of this lease as operations or productions from this lease. Lessee shall allocate to this lease the proportionate share of production which the acreage in this lease included in any such spacing unit bears to the total acreage in said spacing unit. 14. Unitization — Communitization: In the event Lessor permits the land herein leased to be included within a communitization or unitization agreement, the terms of this lease may be deemed to be modified to conform to such agreement. When only a portion of the land under this lease is committed by an agreement, Lessor may segregate the land and issue a separate lease for each portion not committed thereunder; the term of such separate lease shall be limited as to the original term of this lease. The terms of the lease on that portion remaining in the unit shall be deemed to be modified Page 10 of 17 ,....�.,' ----Tract Oil and Gas Lease 5001499 Pages: 10 of 17 April 30, 2025 10/27/2025 10:03 AM R Fee:$0.00 Carly Kopp., Clerk and Recorder, Weld County , CO to conform to such agreement. Non -producing leases shall terminate on the first anniversary date of the lease following the termination date of the unit or part thereof modifying the lease, but in no event prior to the end of the primary term of the lease or the extension term of the lease. 15. Production: Lessee shall, subject to applicable laws, regulations and orders, operate and produce all wells upon the leased land so long as the same are capable of producing in paying quantities, and shall operate the same so as to produce at a rate commensurate with the rate of production of wells on adjoining lands within the same field and within the limits of good engineering practice, except for such times as there exist neither market nor storage therefore, and except for such limitations on, or suspensions of, production as may be approved in writing by Lessor. Lessee shall be responsible for adequate site security on all producing properties. 16. Shut -In Wells: If Lessee shall complete a well on the leased land productive of gas and Lessee is unable to produce such gas due to a lack of suitable market therefore, Lessor may grant Lessee suspension of his obligations to produce hereunder until a suitable market for such gas can be found, and during any such suspension period, it shall be deemed that gas is being produced hereunder in paying quantities. Except, however, that beginning on the anniversary date next, of the year of an extension of the lease by reason of a shut-in well, Lessee shall pay to Lessor a shut-in royalty equal to $2.50 per acre of the lease per annum in addition to the annual rental. The minimum amount of such shut-in royalty payment shall be $240.00. Shut-in royalty payments shall not be reduced or proportioned when the Lessor is not the sole mineral interest owner. Each year's shut-in royalty shall be forfeited to Lessor except for the shut-in royalty paid for the year during which the well begins production. The maximum extension of the lease, due to the existence of a shut-in well, shall be five (5) years beyond the extension term as described in the Extension paragraph herein. The granting of any further extensions shall be at the sole option of Lessor. 17. Operations: Exploration, drilling or production operation, including permanent installations, shall be in compliance with all Colorado Oil and Gas Conservation Commission and State of Colorado Regulations. Reports required to be filed with the Colorado Oil and Gas Conservation Commission shall be made immediately available to Lessor upon request. 18. Notification: Lessee shall notify Lessor and the surface lessee or surface owner of the location of each drill site at least two weeks prior to commencing drilling operations thereon. Lessee shall notify Lessor before commencing to plug and abandon any well by copy of Lessee's request for approval or sundry notice of intent to plug and abandon. 10/275061499025 4 2 10:03 APageM 0 Feof s $O 00 7 pril 30, 2025 Carly Kopec, Clerk and Reoorder, Weld County , CO 1111 IM«NO'Dih:lili 'PI 114 11111 Page 11 of 17 ' --Tract Oil and Gas Lease 19. Bonds: Lessee shall be liable for all damages to the surface of the land, livestock, growing crops, water wells, reservoirs, or improvements caused by Lessee's operations on said land. No operations shall be commenced on the land hereinabove described unless and until Lessee shall have filed a good and sufficient bond with Lessor, in an amount to be fixed by Lessor, to secure the payment for such damages as may be caused by Lessee's operations on said land and to assure compliance with all the terms and provisions of this lease, the laws of the State of Colorado, and the rules and regulations thereto appertaining. A bond may be held in effect for the life of production of any well. 20. Settlement: Lessee shall not remove any machinery, equipment or fixtures placed on said land, other than drilling equipment, nor draw the casing from any well unless and until all payments and obligations currently due Lessor under the terms of this lease shall have been paid or satisfied. Any machinery, equipment or fixtures left on this land for a period of more than six (6) months after the expiration hereof, shall automatically become the property of Lessor. 21. Other Discovery: Should Lessee discover any valuable products other than oil and gas, on or within the leased land, Lessee shall within seven (7) days report such discovery to Lessor, in which event Lessee and Lessor may negotiate a provision for production of such discovery. 22. Water: This lease does not grant permission, express or implied, to Lessee for water exploration, drilling, or establishing water wells without the written permission of the surface owner. If Lessor is the surface owner, said permission shall not be unreasonably withheld. If Lessee desires to establish or adjudicate any water right for beneficial use on the leased land, any such adjudication or application shall be in the name of Lessor if Lessor is the surface owner. The same shall apply to any non -tributary water rights established on the leased land which may be put to beneficial use off said land. 23. Default: Upon failure or default of Lessee to comply with any of the terms and provisions hereof including, but not limited to, the failure to comply with laws, rules and regulations governing Colorado oil and gas operations, Lessor is hereby authorized upon notice and hearing, as hereinafter provided, to cancel this lease as to all of the leased land so claimed or possessed by lessee hereunder. In the event of any such default or failure, Lessor shall, before making any such cancellation, send to Lessee by certified mail, to the post office address of said lessee as shown by the records of Lessor, a notice of intention to cancel for such failure or default, specifying the same, stating that if within forty-five (45) days from the date of mailing said notice, Lessee shall correct such failure or default, no cancellation will be made. If such failure or default is not corrected within Paae 12 of 17 _ Tract Oil and Gas Lease 5061499 Pages: 1 12 of 17 \ ril 10/27/202'5 10:03 AM R Fee:$0.00 60.00 p 30, 2025 Carly Kopp., Clerk and Recorder, Weld County , CO VIII ntrilliMilM1410.10.0 r isivitYlli1 Bill 5061499 Pages: 13 of 17 10/27/2028 10:03 AM R Fee:$0.00 Carly Kopp.., Clerk and Recorder, Weld County , CO IIIII PAT �I�hSIY��Yk III III forty- five (45) days after the mailing of such notice, and if Lessee does not request a hearing on such notice within forty-five (45) days, this lease will terminate and be canceled by operation of this paragraph without further action by Lessor, or further notice to Lessee. 24. Extension: If Lessee fails to make discovery of oil and gas, or either of them, in paying quantities during the primary term hereof, or during drilling operations commenced during the primary term hereof, Lessee may make written application to Lessor for an extension of this lease. The granting of such extension shall be at the sole option of Lessor, according to the following conditions: a. Extension Limit: No lease term will be extended for more than six (6) months from the original expiration date. b. Extension Payment: The Lessee shall pay to the Lessor the sum of one- third (1/3) of the original bonus amount. c. Delay Rental: The Lessee must pay to the Lessor the sum of Two and 50/100 Dollars ($2.50) per acre leased as delayed rental for the term of the extension. d. No Change in Royalty: The royalty will remain the same. 25. Hold Harmless: Lessee shall indemnify Lessor against all liability and loss, and against all claims and actions, including the defense of such claims or actions, based upon, or arising out of, damage or injury, including death, to persons or property caused by, or sustained in connection with, operations on this leased land or by conditions created thereby, or based upon any violation of any statute, ordinance, or regulation. 26. Condemnation: If the leased land shall be taken in any condemnation proceeding, this lease shall automatically terminate as of the date of taking. The award for such condemnation shall be paid to Lessor, except for any specific award(s) paid to Lessee for severed oil and gas reserves, in which event 50% of such specific award(s) shall be paid to Lessor in lieu of royalty lost by virtue of the condemnation. Improvements shall be removed by Lessee per terms in the Settlement paragraph herein. If only a portion of the leased land is taken by condemnation, Lessor may, at its option, terminate this lease or terminate only that portion of the lease so taken. 27. Errors: Every effort is made by Lessor to avoid errors in all procedures including, but not limited to, auction listings and lease preparation. Lessor shall not be liable for any inconvenience or loss caused by errors which may occur. Lessee shall notify Lessor immediately upon discovery of any errors or discrepancy whatsoever. Page 13 of 17 'ract Oil and Gas Lease Aril 30, 2025 5061499 Pages: 14 of 17 10/27/2025 10:03 AM R Fee:$0.00 Carly Kopp., Clerk and Recorder, Weld County , CO IIIII IYI��1I UNA'IA,l'AgIF0410Y.40l k 1I II 28. Archaeology: Lessee shall not destroy, disturb, mar, collect, remove or alter any prehistoric or historic resources of any kind on Weld County lands as provided by law. These resources include, but are not limited to, all artifacts of stone, wood or metal, pictographs, structures, and bones. A discovery of anything of prehistoric or historic nature shall be reported to Lessor or the State of Colorado Archaeologist immediately. 29. Definitions: For purposes of this Lease, the following definitions apply: a. "Products" refers to any and all substances produced on the leased property, including all oil and gas, found on or under the leased property. b. "Market Value" shall mean for gas and products therefrom (i) the gross price at which gas or products therefrom are sold pursuant to a Gas Contract, as defined in paragraph 2C, or (ii) if not sold pursuant to a Gas Contract, as defined in paragraph 2C, the highest gross price reasonably obtainable for the quantity of gas or products available for sale, through good faith negotiations for gas or products produced from the Leased Premises at the place where such gas or product is available for sale on the date of such a contract with adequate provisions for redetermination of price at intervals of no less frequency than two (2) years to ensure that the production is being sold for no less than the current market price. Included within the definition of "Market Value" as used herein is the presumption that Gas Contracts are arms length contracts with purchasers who are not subsidiaries or affiliates of Lessee. "Market Value" shall never be less than the amount actually received by the Lessee for the sale of hydrocarbons. c. "Affiliate" is defined as the parent company or a subsidiary of Lessee, a corporation or other entity having common ownership with Lessee, a partner or joint venturer of Lessee with respect to the ownership or operation of the processing plant, a corporation or other entity in which Lessee owns a ten percent or greater interest, or any individual, corporation or other entity that owns a ten percent or greater interest in Lessee. d. "Costs" and/or "Expenses" shall mean all costs of gathering, production, transportation, treating, compression, dehydration, processing, marketing, trucking or other expense, directly or indirectly incurred by Lessee, whether as a direct charge or a reduced price or otherwise, including fuel use attributable to any of the services listed above. "Costs" or "Expenses" also include depreciation, construction, repair, renovation or operation of any pipeline, plant, or other facilities or equipment used in connection Page 14 of 17 'Tract Oil and Gas Lease pril 30, 2025 with the treating, separation, extraction, gathering, processing, refining, transporting, manufacturing or marketing of hydrocarbons produced from the Leased Premises or lands pooled therewith. e. "Gas" as used herein shall mean all gases (combustible and noncombustible) including, but not limited to, all gaseous hydrocarbons, gaseous compounds, carbon dioxide, and helium. f. "Oil and gas" as used herein shall include all substances produced as by- products therewith, including, but not limited to, sulfur. g. "Paying quantities" as used herein shall mean and refer to quantities of oil and gas or of either of them sufficient to pay for the current cost of producing same. 30. Heirs and Assigns: The benefits and obligations of this lease shall inure to, and be binding upon, the heirs, legal representatives, successors or assigns of Lessee; but no sublease or assignment hereof, or of any interest herein, shall be binding upon Lessor until the same has been approved by Lessor as explained in the Assignments paragraph provided above. 31. Warranty of Title: Lessor does not warrant title to the leased premises, but it shall, upon request, allow Lessee access to such abstracts and other title papers as it has in its files. There shall be no obligation on Lessor's part to purchase new or supplemental or other title papers, nor to do any curative work in connection with title to the subject lands. Where there is a conflict concerning ownership and/or title to the leased premises, the Lessee shall provide evidence of ownership and/or title. Lessor relies on the evidence provided by Lessee concerning title and ownership. 32. Force Majeure: Neither party shall be responsible for delays or failures in performance resulting from acts or occurrences beyond the reasonable control of such party, including, without limitation: fire, explosion, power failure, flood, earthquake or other act of God; war, revolution, civil commotion, terrorism, or acts of public enemies; any law, order, regulation, ordinance, or requirement of any government or legal body or any representative of any such government or legal body; or labor unrest, including without limitation, strikes, slowdowns, picketing or boycotts. In such event, the party affected shall be excused from such performance (other than any obligation to pay money) on a day-to-day basis to the extent of such interference (and the other party shall likewise be excused from performance of its obligations on a day-to-day basis to the extent such party's obligations relate to the performance so interfered with). 5051490 Pages: 15 of 17 10/27/2025 10:03 AM R Fee:$0.00 Carly Kappa., Clerk and Recorder, Weld County , CO lIII IIMIU' lilirin I1ill it kliiJ IMklktaki ll II Page 15 of 17 Tract Oil and Gas Lease ,pril 30, 2025 33. Surveys, Abstracts, Title Opinions and Curative Work: a. If Lessee shall cause any of the exterior or interior lines of the property covered by this lease to be surveyed, Lessee shall furnish Lessor a copy of such survey. Lessee shall furnish Lessor, within a reasonable time, with a copy of all maps submitted to the Corps of Engineers of the United States Army, Railroad, or other governmental or official agency or department having jurisdiction, showing the proposed location of all roads, pipelines, canals and drill sites on the Leased Premises. b. All abstracts of title, whether new or supplementary, obtained by Lessee and covering the subject lands shall become the property of, and be delivered to, Lessor after Lessee has completed its title examination and curative work, subject, however, to the right of Lessee to use such abstracts upon request at any time during the term of the lease. Therefore, if Lessee causes an abstract of title to be prepared covering the property herein leased, or any portion thereof or if. Lessee shall cause the title to be examined or should obtain a title opinion or title certificate upon the property herein leased, Lessee agrees to furnish Lessor a copy thereof within two (2) weeks of Lessee's receipt thereof. Lessor agrees that neither Lessee nor the attorney or firm of attorneys rendering the opinion or certificate shall be responsible to Lessor for its correctness, the said opinion or certificate being furnished to Lessor simply for its own convenience, information and personal use. Similarly, if any curative material is obtained by Lessee, a copy thereof shall immediately be furnished Lessor under the same conditions of non -liability on the part of the Lessee or the persons who may have obtained or prepared the same. In witness whereof, Lessor has hereunto signed and caused its name to be signed by the Chair, Board of County Commissioners of the County of Weld, with the seal of the office affixed, and Lessee has signed this agreement, the day and year first above written. L Perry L Buck, Chair OCT 1 - 2025 Board of County Commissioners of Weld County, Colorado Attest: By: 5081499 Pages: 18 of 17 10/2.00 Carly7Koppel ,/20261CC1ork a:03 lnO d Recorder, County , CO 11111 Esther E. Gesick, Weld County Clerk to the Board Weld County Deputy Clerk td"the Board Page 16 of 17 Tract Oil and Gas Lease ,pril 30, 2025 Z oZ5- Zoq Lessee Robert Pierini EVP State of Colorado ) ss County of Denver The foregoing instrument was acknowledged before me on: Acknowledged before me by: Robert Pierini, EVP Witness my hand and official seal. Notary Publicit My Commission Expires: k— ai - aoa� 5061499 Pages: 110 27/2025 10:03 A 17 M RFee:$0.00 Carly Koppel, Cler d el4l/'i aand Recorder,ti«K;u M;C0 � VIII October 13, 2025 HANNAH HOULIK NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20114034077 MY COMMISSION EXPIRES JUNE 24, 2027 Page 17 of 17 Weld County Large -Tract Oil and Gas Lease Revised April 30, 2025 8061(110, PA GE3 7. e 7-2 V° 0 CD r-7) x U. P. Railroad Company, a Corporation; Anton H: Klusener; Anton Hehry Klusener; ce James B: Klusener; Heirs of James B. Klusener; F. Swift, auinton Roosevelt Swift; Glenn Perry Adams; Floyd Lee Adams, Perry C. Ball; James Campbell; J. S. Grable; Margaret S. Grable; Helen Kent; Laura B. Campbell Earnest W. Queen; M.S. Radetsky; John William Groper; Federal Acceptance Corporation, a corporation; L. B. Nicola; Edna Vanrick; Vera Leacock; Bessie Dinsmoor; Mabel Sparks; Carrie Walker; Veva Davis; Hazel Recker; Bertha Gordon; Haeel Rossiter; Helen Freeman; Anna Freeman; Mabel D. Butterweck; Earl K. Dolton; E. J. North; Frank Sledeck; Margaret L: Kraxberger; Wayne W. Kraxberger; John N4 Agan; Farm Investment Company, a corporation; Cora M. Chapel; J.H. Keyser; J. F. Oouchman; Mary A. HcLyman; Karl Udet; Rhea G. Udet; Ruth P. Nies; Delbert K. Sick; Emma Gibson; Dale R. Holland; Levi Peek; Farmers Loan Company; a corporation; Alice Whalen; James Haire; Joyner Investment Company, a corporation; Matilda Watkins; Minnie McHale; Rosina Werner; Nellie Christenson; Fred Watkins; The Greeley-Poudre Irrigation District; Ralph E. Waldo, Jr., Public Trustee of Weld County; Colorado; The State Land Board of the State of Colorado; and ally and all uinkhowh persons whb claim any right, title or ititetest in and to the lands described herein as the subject Matter of this action., t;; : ` 13'tin !" 3.". J.t' , newly appointed ,a ac irit; I'ubJ 3 c '1''I'Uai.'.'3 of .;e1 Ccunty,Col oi'adu, State of Colorado,) )es. County of Weld ) The Hoard of County Commissioners of'' the_County of Weld, State of Colorado, Plaintiff,. ye, S. Adams; Luige DiSanto and Domenica Di Santo; John Fink; Ed Duran; J. Edward Smith; John T. Conway; Marcus C. Bogue; DUrland Tr. Co. a cor- ) 8 Cordon V. Comer; Hubert Knepper; poration) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) In the District Court No. 10119 FILED IN DISTEir;T COURT WELD NON/10 r,142 A. .1. LUTHER, Door':n .,.o '4u iet Title Stiteldt ;,fondant_ . BCC1 j..02 FA 6E 378 -64 This cause carte on regularly to be heard this /9 day of November, 1942, plaintiff appearing by the County Attorney, G. N. Bradfield, and the defendants and none of them appearing in person or by attorney. Upon motion of attorney for plaintiff, the defaults4Ceach and all of the daf'endants are duly entered by the Court, and the Court having considered the oral and documentary evidence offered on behalf of plu"'_'! n',iff and the arguments of counsel, and bEdng fully advised, Coif; find that succors was duly issued in this cause on January 29, 1942, and that said su,isans rith copy of co iplai et attached eras duly served on tree :wild defendants as follows: By the sle ri f f of icic?. Count;, Colgrsdo, On defendant ilaiph E. ;ialdo, Jr., Public Trustee of r/eld County,Co7 nrcccc. (iar'aonally in said Jell C eunty,Coloraado, on February 24, 1942, and On defendant, the Gre_el_oy Foudre Irrigli n District, ccrpor'ati m e,Icy e ery `:.e .:c ;i t 'r an �.�t UT'r1.. J:ii] t`.ti . tin s 'Cie`, tar',' of said defendant, personally, ill Weld Count ,doloracio, on February 25, 1942, and on On defendant Dale 11. Holland, personally, and on ll fondar:t ';,r1;aret S. Cr able, personally and on DeFendant the 'clue Investment Cce epany,a corporation, by servi.ce on its secreta y, personally, and on defendant, tie Union Pacific Ra _ oad Company, a corporation, by I�.Y.t.ikinner, its agent, personally, aid. at Greeley,':tale County, Colorado, on February 25, 1942, and 8001(1102 PA6EU 79 On defendant, Marcus C. Bogue, and on defendant John T. Conuay, and cr. defendant, Gordon If. Comer, and e,ach of them, rereonall;;, in the City and County of Dunvor,Colorado, on August. 20, 171.2, and On defendant, the :Mate Land Board of the St atu cif Colorado, by service en O. 1.. Ciod.fiuld, its chief clerk, personally, in the City aid County o f Denver, August 20, 1942, and On defendant, i'.ilur. Kant, pot'sora:.1:r, in th., Cit.,/ and Count; of Denver, :.+:au:_.t1n, on A t;;zt. 24, 1942, a'd .'a daft. cicr l 1c �t; On ( Et' Ii ? • ! � ♦ �:+,j v t:tCe? C:.Y;.o7'e:t.:e.�,:ls, s ClI.fi:;'tl:v cor.o :et.ion tka : t!ry .:e :'•;! a n 1 "ice its last, act. n'+ ' : y � .. J rii : E•i...., .. c.ere.r...iir •'and ono ea; i Le aul ri.v nC and l Ar t rectin,: dintot.ere, oi'ronally, in ts.c City and County ;,.r.' Denver, Sep a e+ber 2, 1942, and on . S. Rmlet ►;ly, =�.i� aer'vic': on thirn iart:et.nky, t i.fa or and m.rilter of the fi:i.:ily nith which defer:rtant rcnittv3, oval' LIE:.' age of e:t j;cmtaen ;1'1S`.:.: .it the •meuz'l place of ;tt+t:(�.^. �:i' rafd t defendsil�, in try: di.t;; itnd Cunt:, of Denver, 4orte.::be r 4, 19!,2, end 2hat. Pa':s'tin no:Fl;/ .:;:pbi::rcr(t Puhi:c TrJetc.+© of :re?!d lit:it:lt+,,.�.:-iuI'•- 'e, :)w ob :?rI.t..'.Ir. aci:e,.tance3 duly acknortied ud, did U'z.'�t3' t ,, :;Esc vice of 3s3s.d s1L: a:cn:, ::i ti; ccsr;:' •;irt attached in Weld Co:int.;,-,Culu:'ado, on iepteaber ?'V, 1942. That Roy ?1. Iiri&gs, duly appointed Guwrdijn •td Liter to represent, i.11:1 a_' the do.'ondilntz, na_,od in thecomplaint ..:ho :::a, tit minors and to reprvcertt. any ure:ncrsri =.errens vrr.o an i nt'irwit BCOKUO2 PAGEe1SU by his written acceptance duly acknowledged, did accept service of such summons with complaint attached, in Weld County,Colorado, on September 25, 1942. • Mat on August 13, 1942, the. shatif#• of ituld County, Colorado, made his return showing that, defendants S. Ada: ts4. Luige Di&rrito and Uomenica Si Santo; John rink; dd Duran; Join T. Conway; idai cus Bogue, Durlancl Trust'Company, a corporation; Gordon V. goiter; Hubert Hrtcpprr; Anton H.Klusener; Anton Henry Klusener; James B.KLusener; Heirs of James B. Klusener; i'. Swift; :;uinton Roosevelt Swift; Glenn Perry Acmes; Floyd Lee ;dens; Perry C. Ball; James Cafrybe? l; J . Grabl e; Helen Kent; Laura B. Campbell; Furriest c7. Queen; Y..~ . t'_ rde ashy; John iii eliartt Grover; Federal Acceptance ;craori.tion, a corporation; L. B.. bicola; Edna vsnrick; Vera Leancck; hinsaiacr ; bab it Sparrrc:; i i t'2' £: :r ».lKe,; `eva �i ; Canal A k r; r.= 'c. Cordon; H' 'l Rossiter; Helen freeman; 1M,is; ��c__. �rtl:.� t, rucr .�r� � Myna Fr=_eiiaen; :abei D. itui.i.eromok; Earl I. Dolton; 3. J. (tooth; Fran:: S14Ue.e; _ rx :are L. rr,,Lerger; :ayne ,.. K.r<ahrr•r•er; John Aga1i; Cora L. R.rilc•31:e.T.; J. U. it4.'y.aC'1•; J.r.c.,Gt).c:7"M:i,4a; I,.,r•r A. CeLyman; Karl Ikiet; i men C. Udet; auth P. Bier; Delbert K.Sick; Levi Pei; F,r,..ura Loan Company, a eux5 ot'waion; Alice ;halera; Farms Haire; Joyti t' Comi,anr, a corporation; ,,tilda Watkins; Minnie ; ciai.r; Rosina ':ta ner; Cilri itennoni; Fred :atLins; The State Land onini of the ,`,sake of Colorado; and any and all unknown pe;omona rsno elate an, right, title or interest in and to the lando dacncrif:ad herein n tno subject tatter of I.Oi:3 action and any thereof could not be found within :;eld County,Colorado; That on t1uf.; st' 1 the .. a . i ;, 4.,J � 20, ��.�.�� Gt_ ��:..��..� 'f),_ ).iIF_' ;ii'.I.i.a=.1.!.'C{. by clear and convincnn.: pr,of that much dcfendants could iiot. be reached by 800.41102 PEEi8. the Ault. Progress, a woolclj public nairspapar published in Ault, 'h;ld COWILY,C01.0tlitiO. 'rtrat not-ico tai said St:0111011S has baen made by publication thereof in said acn,'apapor pursuant to said order; that th:: first publication thuroo. iaa on August 27, 1942, and tho last publication thoroof was on Scooter 24, 1`142; that the sortie° upon each and all of tho dofondantc is rova1ar, cc.:plea: and in br form. • That or. Septo::.bar 22, 1712, plain . i f C filed Lorain a verified motion, st: tif.n, ' t her o _.tay be wshr. nu ! rrhut ts, c1' i inoso or :Intnovm lxIr,sons (1.40 bawl a :lair. or !''cter7t:A in and to tl.r! .^.tl.,;ut.t, natter of this pr owed t►1,, and that if any, plaintiff is unchln to determine 'eheth•2r said !mown or •'ln!fnoan dcmfentiantp or unknown parsons or any of theca are subject. to the . rnvis on> of the 'Soldiers' and Sailors' Civil Allier Act of 1%0" and abierabenta tt.ureto, and the Court fouled that the hernabou.te of any such k.norrn or uuCcnc.►wn do;' •ndnnta or unknown persons „ro urtd::ioun to plaintiff; tend tics Court appointed t'.o,' :t. i3rig..;=, Esq., as the attorney to represent said N defendants and _:erscnr under rsaid ''aoldit:ra' and Sailors, Civil Hello f Act o f 19/,0" and 3. 10 rrchse rst s thereto, and on September r 25, 1942, said attorney filod heroin his ans ,ur denying the allocations thereof; and that Min Court has horutofore tnsdo its ordru' for entry of ,tjuds;7,!r ardor t[:r? ' foe t:.t?rc' and Sailors' Act of 1940," and si.errdluonto t:.eratr,. 'flat. each .•r'C: lmmas'y 01 t,f:!! (lr:`'�?rl��a`.'t►. �, r:l.tr►n t._h served :i tt. process h•'r in, 1ri,2a, Guardian ac'• 1.1 to,n aeor nnutat ni' any of the defer:ct .r :,=• ;ian.ed or urr.ai-e,d, known BOGK l I.i2 PAGE 382 And except defenddar the vtate Lurie he=.: d ;:f. the . t,,:..te of Colorado, case iiuuo',i1 v..ate Board of Lord e J osier: cc C f he State "+ J which + � 27, 9 1 2 filed i t s answer �r herein of t,olvra4o, ;�,.� � h on Anoint �.,��►.., � - e.� ....., �t:�a,.c.. �i.,Y'E'in af �,pr:≥J1� that as to the Sc7lithei:..^s 'v 1flt of ...:.'C. 35, Tp h. /r} 4 Sest, itela rd a r'aeery nti,on of all ziceral rights s therein. And'. o:ccc5 t defendant, the Union P-ec:tfic Ccrzpeny, _t corporation, chit:?' or August 20, 190, Med _;i.ti herein, d icc].abr.: nr any 1'7_.:h f, title or it t''ro r J 11: property descrl.bed 7 n the cow int; exc r::t.• its ?s_iiar::tt. ri!7!itz, l n t.re.c s i ursbe red 5, 7, 10, II, it, 16, 19, aril 26 in Paragraph I of riarantiff'e complaint herein; ell cis which i;,iriccal resarvationa plaintiff herc ii cony :eon 5 and :3eid f :i!`•'_'.T al reservations are excluded friar this decree. each and every other of said defendants being in default are hereby dec].a3.sea to be in default and said default is hereby entered. ,end as to then, said complain 1s ti?here cia confessed ii; each and ever j.. of t ' 8et1f 1102 PA6E 383 That this•is a proceeding known as an Action in Rem, and that the Court has complete jurisdiction of all of the parties to .this. suit and cf the auajeet matttr`heaeof. The Court 'does further find th t the allegations of the complaint are ttte.and ppovon, and the findings of the Court herein aro teaerally for the plaintiff: That. several portions of the land described in the complaint were ineludud Greeley--Poudre irrigation District by an order of thelBocrd of County Commissioners of Veld Coeunty,Colorado, recorded April -14, 1909, in Book 259, at Page 242, Wield County, Colorado records. That thereafter said irrigation district issued and sold bonds, Series liudleted 1 to 10, all of which as to principal and interest became due en or. before Seceaher 1, 1929; that taxes have been levied upora and assessments have teen arcade upon lands. in said district and in cases of non paymc..v thereof, the lands in said district have been sold as prescribed b;; law to satiafy both principal and interest of said bonds; that more than six years have elapsed since the last Creole;/ Poudro Irrigation District bottle both as to principal and interest became due, alai the lands therein described are not now and in the future shall not be liable to be assessed for the payment of either principal or interest o f said bonds That said Greeley Poudre Irrigation District, from the year 1910 to the . ear 1941', inclusive, or some of thew, levied taxes upon the lards of said district for irrigation maintenance purposes 800K1102 PAGE$84 outstanding certificates for general taxes on said lands; that the title of plaintiff herein to said lands in the Greeley Poudre Irritation District ' was derived from treasurer's deeds of the Treasurer of Wald County,COlorado, for some and is superior to any right, claim or title for the said lands under said irrigation maintenance 'tax crrhificutes. ' i,at tiffs County 01 . aeld, State of Colorado, is the eerier in fee simple epd in possession of the promise:: hereinafter described excepting rifrhts of way raserved to the Union Pacific railroad Company or the Union Pacific Railway Company; reservations contained in United States patents; existing reservoir sites, irrigation ditches and 'rights of. way for roads. IL 7.s therafore jrdcrcd, Adjud cd and Decreed that :field County, State of Colorado is now and Fiala at the tine of the co:,wencement of this action, spiced in fee simple of th,) real estate described ;,n t-rie cueplaint, as follows, to -wit: 8001( 11W PAGE WO 1. SEI Sec. 36, Tp 1 N. R. 62 W. 2. South 75 ft. Block 5, golff Gardens in VIWEIVNit Sec. 30, Tp. 2 N. R. 67 W. 3. Part of NE NE4 Sec. 33, Tp 2 N. R. 68 W. Beginning 30 ft. West and 460 ft. South of Northeast corner Section. West 150 ft. S. 50 ft., East 150 ft. North 50 ft. to beginning (Except U.P.R.R. Reservations) . 4. Part of NE* Sec. 33, Tp 2 N.R. 68W Beginning 30 ft. S. and 30 ft. West of NE corner Sec. south 125 ft., West 150 ft., North 125 ft. E 150 ft. to beginning. (Except U.P.R.R. Reservations) g o tateseeouge f I. al tit 6. NANEi Sec. 11, Tp 4 N. R. 61 We HXR Unoccupiedi\right of way connecting line and strip over and across E2SE (4.5 ac.) in Sec. 24, Tp. 4 N.Rb 67 W. • • .7 • 8. NEI Sec. 21, Tp 5 N. R. 61 W. 9. El Sec. 28, Tp 5 N.R. 61 VJ 10. Abandoned line between Ft Collins and Dent in SWit Sec. 19, Tp 6 N.R. 67 W. 11. Abandoned line --- Dent to Ft. Collins in SW SE* Sec. 29, Tp 6 N.R. 67 W. 12. E2 Sec. 35, Tp 7 N. R. 59 W.; 13. WtSVh WW6Wk Sec. 2, Tp 7 N. R. 63 W. 14. Right of Ways -Greeley 3rd line Barnesville North over W El Sec. 8, Tp 7 N. R. 63 V/, 15. Undivided 1/3 interest of Lots 3 end 4 and E L- Sitii Sec. 18,Tp 7 N.R .63 W 16. NiSE,}}NE4 Sec. 23, Tp 7 N.R. 63 W. 17. 18. SE- Sec. 24, Pp - 7 N. B. yi.4 of SWi Sec. 28, Tp 7 N. R. 63 W itic.t. - o -t t, r ci.,..ta4. cif 1ttaet1.rnL•tie_4.4414) .). 19. Right of way over the WISE Sec. 27, Tp 7 N. R. 6? W. 20. SWiNVie: W , ,t except 7/8 int. oil, etc.) in sec. 18, Tp 8 Nr R. 58 Vt. 21. SWkS I Sec. 34, Tp 8 N. R. 58 W. 22. E2 Sec. 2, Tp 8 N. R. 60 W. 23. NV/I Sec. 20, Tp 8 N. R. 60 W. 24. NW4 Sec. 25, Tp 8 N. R. 60 W1 25. SE' Sec. 8, Tp 8 N. R. 64 W. 8001(111)2 PACE $81 27. Mk Sec. 14, Tp 8 N. R. 66 V7. 28. lei and NEINl4 Sec.. 18, Tp 9 N. R. 56 VI. 29. Undivided 1/12 interest in *E4 Sec. 22, Tp 9 N. R. 6 2 W. 30. Undivided 11/36 int. in SO Sec. •22, Tp 9 N. R. 6 2w. 31 Undivided 11/36 int. in SiSE1 Sec. 22, Tp 9 N. R. 6 Z W. • 32. Undivided 1/12 interest in at Sec 27, Tp 9 N. R. 6 2W. 33. Undivided 11/36 interest in 11-1374 Sec. 27, Tp 9 N. R. 62 W. 34. Undivided 11/36 interest In SF/ Sec. 27, Tp 9 N. R. 6 2 W. 35. NNE -NE -RTE -1 Sec. 18, Tp 9 N. R. 64 W. 36. w (Except U.P.R.R. Reservations) Sec. 25, Tp 9 N. R. 66 W. 37. E2 Sec. 11, Tp 10 N. R. 61 W. 39. Wiai Sec. 28., Tp 11 N. R. 65111. 40. Nig Sec. 34, Tp 12 N. R. 61 W. 8.O11.02 ma€38'7 save and excepting rights of way reserved by the .Union Pacific iail oad ' Company or by the Union Pacific Railway Company; reservations contained in United States patents.'existing reservoir niter and irrigation. ditches and sights of 'way for 'roads. And as to SFeli. Sec: 36, Township 1 N. •P. 62 'il.. excepting: reservation's by the State Board of Land Ccnv;,lssioners of the State of Colorado of ell rights to any and all mineral.a, ores and. metals of every kind and character and of all ecwil,aspheltua,, oil, and other like ,substanccs in or under said lard end the right el infrees and errs ee for the purpose of r:1i.ning, together with enough. of" the surface of sane as may be necessar:, for the proper and convenient working of .such at:teriesls rind substances, 'oit:ici1 resorvetic . • consented to 'tit plaintiff and chich mineral rights are excluded from this decree. lord r acei,t, for eilevere.1 reservations in the Union Pacific Railroad Cumptir ,•, a corporation as fellows: Tract 5. Part of Sec. ?_:.j, lip 3 It. R. 67 'ti. Part Srtf,e:r. Beginning at Si sul'n,ar Sec. 21, L. 166.4 J.C.. ei/l; e. 916.5 ft. . n 1. to true point o1. begiraiing; S. 600 56' L;. 200 ft. .i:t. and parallel tc U. k 75' H. 60° 56' P. 2.)>) ft.. :o.1,, . and parallel to U/! 75' rn/i to bei;ineing; cacepting therefrom all coal that may be underce.uth the suriacie or the land h_reein descrioed; also such right of ray anr;uther greltn€te tae nay be r;{:c sac;;+ia>';" .'.car the projx.'r working o!. in;, 00.111 mines teec> may be. ctavelupsd upon said pre„ lses and for the transportrsf.?.ou of Pie co 1 trod the emit, title to anich is vested in Union Pacific Railroad doapatty." op1102 rAGE3$8. '!Tract 10. Abandoned line between Ft Collins end Pent in Si. Soc. 19,. 'p 6 N. R, 67 W0 excepting therefrom all coal and other minerals within or underlying said lands. The exclusive right to prospect in and upon said land for coal and other minerals therein, or which ma • be supposed to be therein, acrd too nine for and re:novo from said land all coal and other minerals :which may be `found thereon by any one. • The right or i gress, egress and regress upon said land to prospect for, mine and remove, any .end all such coal or other minerals, and tie right to vse so much of said lend as may be convenient or POQ('ssary for the right of akf to and from such prospect places or mines, and for the convenient and proper operation of such prospect p? aces, rsinoe, �liid :or roads an,°z s. proaches thereto .or for removal therofrom of ecial, mineral,, machinery, or other r;atf:rial, title me which is vested in Union Pacific Railroad Company." ',Tract 11. Abataioxmd 1 1_.3--U:i nt to FL dU?:_i_tats In rhlj 'r: 3Q0. 29, Tp 6 V. R. 67 1i. exceptinE therefrom ell coal, oti And other r:'iner.'-'.ls, together with the right to enter von said lands to prospect for end i:e ove such llli rtil., title to ah:i.ch is vested in Union Poci fic Railroad C ,tpeny.. ''Tract li. ; ;.t; :t oC :lsi—Greeley )rd lino arnrevil:Lo Worth over Tt!EA gec. g, Tp 7 r. 11. 63 P.; excepting therefrom all coal, oil and other rtL rerale, toget,;iur ,Pitt, toe right 4O enter upon said lands to prospect for and remove. such i:unurals, title to w;1ich is vested in Union Pacific Lrail.road Coopaoy." B0till02 "Tract 19. R.i4ht of w, oiaar the 44S4 Uoa. 27,„ Tp 7 U. 4.• 71 ti.; exceptini;.tharofroa nil coal that a..8y be underneath tha surface of the land herein described, also such right of way and othar grounds as may be neceessry for the proper working of any coal mince that may bu devu-i coped upon said premiums and for the transportation of the coal from the ease, title to which is vested in Union Pacific haiirood .,.etpd V." "Tract 26. N4 arc. 11, Tp 8 N. R. 66 A; excoptini; thorciron all at,L1 and other aincraJ.4 within or undarlyirk gild lands. The exclusive tint to proslrsct in and upon said land for .cal and of ter a1.ncrelu y.e=•e•ein, or %thich nay be sus,; osacl to be tl er si.n, and to mine f Or and f e sm cold land, ell coal raid cthur 'anemia uhichisLy ba round d thereon h any one. Th., r160. of ingress, a rc. fl,t•. i _:!•,r ss upon said land to •prospact for, :..inu and remove an/ and ..11 such coal or other manorgis, and L%: r:, ;it to use so -mob or ;eee3d 1. ;J .r i; be �r ,•or ee•, tr..e tor _ r.., :.�. cc:c_t _"rant rrc- ,. E_ the right o: 3'., Lo r.z d trees such promp=t place or e;'ic a, and for LIMD con anient. sail tropic o:x:rnti.:n of such prospect ricer:.;, minors, aid for rmis :en ! ifpre ahus thereto or for re,oval this efr,c. of coat, irino3•ci., i.met.:.ti.S1•I, or ut hor Naatacia.L, title: to which is vested in Inioa 1,c1.1710 .aailroaci Cas part'." cat eta dc;:audo.nta and each of them have no estate, ri ht, title, claim or interact. irl• oactto said prerxisar or an .ort t:horouf except us above limitea, and that the title of the t.l tntirf to said pry:al.: s V3 sa l.1.41ted be and the sew i, ivur:h, trod as against any and c+11 of said dniondants; that the ekafen:ianas aaa each of Lives and AIL per .ens claiming by, through or undor Li. . be and they ate: hereby i orever enjoined, dobarrud :end rouLrc; red BOONlitrii PAGEWU That def e;:cfant, the Gr eelcy Youdre Irrigation District is dil'uicts d to delivcr } o the Treasurer of geld County,Coloredo, for cn ncol..lai.on any c,u.statsUnr; th•c:eJ.ey F'andro .Irritation District tt=:.:xrtonon e tat ;crtificotos i'ar the yellr 1918 to 19'_;1, inclusive, owned by .L t.,n %and Lill :ie: lnLy h't:ssur or of 't;e:ld Dount y Is ei r cted to c,mcel nil said c'_iatr.ic:t ;r.,tititenac:ce tax certificates and ₹.o endorse 000:1 ew:ce lsltitlil on Len records of hit! office. Done •Jourt: this jQ day of 1 ove.-fiber•, 1942 '�FIOA ._o8.vo r 1102 f 391.. STATE OF COLORADO ) •)Ss. cowry of MD ) X, A. • J. ' ISTHBR, Clerk of the District Court, in .and'for the aforesaid County and. State, do hereby certify that -the within and foregoing. is a full, true and' correct copy of DECREE IN QUIET TITLE in Case No. 10119, entitled THE BOARD OF.COUNTY COMMISSIONERS OF THE COUNTY OF WELD, STATE OF COLORADO, Plaintiff, vs. S. ADAMS, et al., Defendants:, as the same appears from the original files and records in this Court, in this Cause,•in this Office, now remaining. IN TESTIMONY SOB, there hereunto set my hand and'affixed my official seal, at my office in Greeley in said County and State, this 19th day of November , A. D. 194 2 . :;cc,,tee,i.) Di 1 Cour Weld Count Clerk of ;. , y, Colorado 417N d� TT'fh YI$ T -- LE0169 Section 24 T7N R63W SW4 Acres: 160 gross Township/Range Section Quarter Sections Parcel Lots 500 Feet Disclaimer This product has been developed solely for internal use only by Weld County. The GIS database, applications and data in the product is subject to constant change and the accur and completeness cannot be and is not guaranteed. The designation of lots or parcels or land uses the database does not imply that the lots or parcels were legally created or that the land uses comply with applicable State or Local law. UNDER NO CIRCUMSTANCE SHALL ANY PART THE PRODUCT BE USED FOR FINAL DESIGN PURPOSES. WELD COUNTY MAKES NO WARRANTI OR GUARANTEES, EITHER EXPRESSED OR IMPLIED AS TO THE COMPLETENESS, ACCURA( OR CORRECTNESS OF SUCH PRODUCT. NOR ACCEPTS ANY LIABILITY, ARISING FROM ANY INCORRECT, INCOMPLETE OR MISLEADING INFORMATION CONTAINED THEREIN. r 411/4 `• 1 cS i 1 1 a" Weld County Government Clerk to the Board 1150 O Street P.O. Box 758 Greeley CO 80632 970-400-4226 Fax 970-336-7233 WELD COUNTY COLORADO Date: October 15, 2025 Receipt # [93030] JOE3: Oil and Gas Lease Auction - TO: Bison IV Properties Colorado, LLC October 15, 2025 - 518 17th Street, Suite 1800 Denver, CO 80202 CHECK # DESCRIPTION UNIT PRICE LINE TOTAL 032261 032257 Filing Fee LE0169 Bonus Amount (SW1/4, S24, T7N, R63W) 1st Year Rental d 10.00 2,500.00 *.00 10.00 400,000.00 *.00 .i: 1 i' L • Y Subtotal Total $400,010.00 $400,010.00 Make all checks payable to: Weld County Government Attention: Clerk to the Board THANK YOU FOR YOUR BUSINESS! *PLEASE KEEP AND SCAN IN TYLER* Notes for Distribution Clerk Please send the Lease to Recording When the Oil and Gas Lease comes back from Recording, please be sure to make a copy for our files and mail the original, recorded lease to: Please mail to: Bison IV Properties Colorado, LLC Attn: Hannah Houlik 518 17th Street, Suite 1700 Denver, CO 80202 Please include the following in the mailing: *Only the Original Recorded Lease and copy of resolution - DO NOT SEND BACK-UP OR MAP, THAT STAYS WITH OUR COPY OF THE LEASE. Thanks. Jess Date sent to Recording n I a9 I 'a5 Date mailed out II/06 (2-S By Nlo.r :o -k R ; 33 nS Hello