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HomeMy WebLinkAbout0938 , 3~?~3 AGREEMENT FOR MINING SHELL AND FILL a~ THIS AGREEMENT ENTERED INTO THIS~day of December~ 1974, betaeen COW CREEK RANCH, INC.~ a corporetion, hereinafter called . lessor~ and SHELLROCK, INC., a corporation to be formed under the laWS of Florida, hereinafter called lessee, have entered into this Lease for the sole purpose of mining shell and fill from that certain land aituated in St. Lucie and Okeechobee counties described in the exhibit attached hereto as F.xhibit A, ~rhfch agreement provides as Follow~s 1. Thia Lease is for the purpo~e of removing from the land deacribed in Exhibit A, attached hereto, shell and fill dirt under the folloWing terms and conditions: (a) The lessee shnll pay to the lessor the sum of 30c per cubic yard for shellrock and 1Sc per cubic yard for fill dirt or marl. (b) If price for shellrock increases or decreasea, the price to the lessor vill incred~e or decrease one cent for each ten cents of the ~ retail price change. i ~ 2. The lessor shall give to the lessee ingres~ and egress to the ~ mfning site and the roads to be utilized in aaid ingress and egress shall € ~ t ~ be constructed by the lessee, who shall be responsible for mainteining x sAid right of ways for ingress and egress. ~ ~ 3. The lessee corporation shall consiet of JACK GORHAM (257. interest~, ~ ~ V. R. Gorham~ Jr., (257. interest)end THOMAS L. SLOAN (507. interest), and ~ ~ said corporation shall be incorporated under the laws of Florida with an ~ ~s initial incorporation of $500.00 and consisting of 100 shares of no-par st~ck~ ~ ~ which shell be iasued 25 shares to JACK GORHAM, 25 sheres to V.R.GC~RHAM, JR.. $ nnd 50 sherea to THOMAS L. S1.OAN. The initial Board of Director~ shnll ~ conai~t of V. R.GnRHAM, JR. and JACK GORHAM, and two pPr~ons designated by TNnMAS 1.. SLOAN. 4. At the termina±ion of thi~ mining operation in the proaerty 'Xe~~} ~ described in Exhibit A attached hereto, the mining site Will be developed into a water reservoir for the use and benefit of the groves on COW CREEK RANCH, INC., and the cost thereof Will be shared equally by the lessee ~T'`~ and the lessor. aooK 237 PAGE 937 ~ - . _ ~ x Y ~ _ . _ ~ t ~ ~ '