GRAZING LEASE

THIS LEASE is made to be effective the 11 day of Nov ,2009
between THOUSAND PEAKS RANCH ASSOCIATION, a Colorado non-profit
corporation, of Post Office Box 817, Fairplay, CO 80440 (herein "Lessor") and VERN
WAGNER (herein "Lessee").

In consideration of the payment of rent herein reserved and the keeping and
performance of the covenants and agreements by the Lessee as set forth herein, the
Lessor hereby leases unto the Lessee for grazing purposes, the following described
property situated in the County of Park, State of Colorado:
Subdivision known as "Thousand Peaks Ranch" according to the plat filed in
the records of the Clerk and Recorder of Park County, Colorado, excluding those
parcels that are fenced (herein "Ranch").

1. Term. The term shall be three (3) years, January 1, 2010 through
December 31, 2012, unless earlier terminated as set forth herein.

2. Rent. The parties have each reviewed the unfenced areas of the ranch
and have determined that there are approximately 9072 (+/-) acres available for grazing
by Lessee. Rental amount shall be ONE DOLLAR AND FIFTY-NINE CENTS ($1.59) per
acre for a six (6) month grazing period for a total of SEVEN THOUSAND AND TWO
HUNDRED DOLLARS ($7,200.00) payable on a monthly basis of TWELVE HUNDRED
DOLLARS ($1,200.00) per month. Six (6) monthly payments shall be paid, in advance,
no later than the 1st day of each month. For example, if cattle are to be grazed during \
the month of May, payment is due no later than May 1st. Payments shall be a mailed to:
Post Office Box 817, Fairplay, CO 80440 and shall be postmarked no later than the 1st
day of the applicable month. Should payment not be made by the 1st day of an
applicable month, the delinquent and remaining payments for the remainder of the
calendar year shall be accelerated and become due and payable by the 10th day of the
delinquent month. Should Lessee fail to pay the delinquent and accelerated payments
by the 10th day of the delinquent month, Lessee shall be in breach of this Lease and shall
immediately remove all cattle from the Ranch. All remedies set forth in this paragraph
shall not be Lessor's exclusive remedies. Lessor shall have all remedies set forth in this
Lease as well as any remedies available under law.

3. Number of Cattle. Grazing under this Lease shall be limited to six (6)
months (or as otherwise amended by mutual agreement of the parties) per calendar year,
with the precise months to be mutually agreed to each year between the parties. The
total number of cattle on the Ranch shall not exceed 100 head per month, unless
otherwise mutually agreed to between the parties. A "head" is defined as (1) a cow/calf
pair, (2) one bull, or (3) a pair of yearlings.

4. Livestock Practices. In caring for livestock, Lessee will follow health and
sanitation measures and guard against disease. Lessee hereby represents and shall
ensure that all cattle are healthy and disease free. Should Lessee be notified by Lessor
of a potential health or disease issue, Lessee shall meet with Lessor to discuss and
investigate the issue. If medical evidence is presented to Lessee which establishes a
health or disease issue, Lessee shall take all medical steps necessary to address the
medical issue. Lessee shall be solely responsible for feeding, watering veterinary
services, and transportation of cattle. Lessee shall remove any dead cattle within twentyfour
(24) hours after being notified by a Board member of Lessor. Lessee shall
periodically (at least once per week) physically check on the cattle. Lessee shall rotate
grazing areas in order to avoid overgrazing and destruction of vegetation. Lessee shall
move cattle every two (2) weeks to a location satisfactory to the Lessor. Cattle shall be
moved to different water sources on each rotation. Lessee shall endeavor to have the
cattle graze the Ranch uniformly. Lessee will notify Lessor as to the location of the cattle
each time the cattle are moved.

5. Dry Conditions. Dry years shall be defined by the State Agriculture
Commission or the Park County Extension office based upon applications made to the
these offices for financial assistance. Should it be determined that a dry year exists,
Lessor may suspend this Lease until the dry conditions no longer exist. Alternatively, at
Lessor's discretion, Lessor and Lessee may mutually agree to a temporary reduction in
the number of head allowed on the Ranch on a monthly basis, as well as a temporary reduction
in the month rent due from Lessee. Such a temporary reduction shall be put in
writing and signed by both lessor and lessee.

6.Lessee Obligation. The lessee, in consideration of leasing said Property,
hereby covenants and agrees:
a. To pay the rent for said premises as herein provided;
b. To use said premises for grazing and for no other purpose and will not use
or permit the same to be used for any unlawful purpose whatsoever, all
other purposes are being reserved by Lessor;
c. To not sublet said premises or any part thereof or assign this Lease without
the prior written consent of the Lessor;
d. To keep said Property, fences, gates, and appurtenances in as good
condition and repair as the same now are or may be at any time during said
term and to not remove or allow any other person to remove from said
premises any of the fences or appurtenances thereon and at the expiration
of this Lease to surrender and deliver up said premises in like good order
and condition, except damage caused by fire, inevitable accident, act of
God, and ordinary wear and tear.
e. To not commit or cause to be committed any waste in, to or upon said
premises or any part thereof;
f. To not cut or damage to be cut or damaged any timber or standing trees
that may be upon said premises, other than normal damage caused by
livestock;
g. For transportation of cattle and access, Lessee shall solely use the existing
roads as much as possible to avoid damage to the property;

7. Indemnification. To the fullest extent permitted by applicable law, Lessee
shall hold harmless, indemnify, and defend Lessor from and against all expenses,
liabilities, and claims of every kind and character, including reasonable attorneys
fees and court costs, incurred, raised, or brought by or on behalf of any person or
entity arising out of either: (1) a failure by Lessee to perform any of the terms and
conditions of this Lease, (2) any injury or damage happening on or about the
Premises, except for injury or damaQe caused solely by the neQliQence of Lessor,
(3) Lessee's failure to comply with any law of any governmental authority, or (4)
any mechanic's lien pertaining to work, services, or materials contracted for by
Lessee or security interest filed against the Premises or equipment, materials, or
alterations of buildings or improvements thereon which pertains to any
indebtedness incurred by Lessee. Lessee agrees and warrants that no security
interest will or may be granted with respect to any fixture physically attached to the
Premises at any time during the term hereof. Specifically, Lessee shall indemnify
Lessor from any and all expenses associated with feeding cattle, veterinarian
services, any injuries received by Lessee's employees or agents, and any injuries
of death of said cattle.

8. Wells, Windmills, Fences, Gates, Cattle Guards, and Stock Tanks. Lessee
shall maintain all wells, wind generators, fences, gates, cattle guards (excluding the
cattle guard located on County Road 24), and water tanks at Lessee's cost.

9. Conservation Structures. The Lessee shall keep in good repair all terraces,
open ditches, and inlets and outlets of tile drains, preserve all established water courses
or ditches and shall refrain from any operation or practice that will injure them.

10. Reservations by lessor. lessor reserves all other rights and uses to the
leased property except for those purposes specified in this Lease. Lessee shall do
nothing to interfere in any way with Lessor's use of the property.

11. Notice. Lessor shall provide Lessee with an updated list of its Board
members each July after its annual meeting. All communications must be made between
the Lessee and the Board. members of lessor as so directed by the undersigned
President of the Board.

12. Default. If any part of the rent provided to be paid herein is not paid when
due, or if any default is made in any of the agreements by the Lessee contained herein, it
shall be lawful for the Lessor to declare the term ended, and to enter into the premises,
with or without legal process, and to remove the lessee and Lessee's cattle occupying
the premises, and to repossess the premises free and clear of any rights of the Lessee.
If, at any time, this Lease is terminated under this paragraph, or at the end of the term
stated in the Paragraph 1, the Lessee agrees to peacefully surrender the premises to the
Lessor immediately upon termination, and if the Lessee remains in possession of the
premises, the Lessee shall be deemed guilty of forcible entry and detainer of the
premises and shall be subject to eviction and removal. If lessee removes all cattle from
the premises, Lessor may, on giving 3 days' written notice to Lessee, declare this Lease
forfeited and terminated. Lessee shall be liable to Lessor for all damages suffered by
reason of such foreiture or for any other default or breach of any provisions of this Lease.

13. Severablility. All agreements and covenants contained herein are severable,
and in the event any of them shall be held to be invalid by any competent court, this
contract shall be interpreted as though such invalid agreements or covenants are not
contained herein.

14. Binding. This Lease shall be binding on the parties, their personal
representatives, successors, and assigns, but may only be assigned as set forth above.

15. Counterparts. This lease may be executed in counterparts in which case
each such counterpart shall be construed as an original. Facsimile signatures shall be
equally binding as originals.

IN WITNESS WHEREOF, the parties set their hands to be effective the day and year
first above written.

LESSOR:
THOUSAND PEAKS RANCH ASSOCIATION

s/s/ Dennis A Kist           
By:  Dennis A. Kist
Its: President

LESSEE:
VERN WAGNER

s/s/ Vern Wagner         
By:  Vern Wagner


ADDENDUM
The following language is hereby added to the GRAZING LEASE between
THOUSAND PEAKS RANCH ASSOCIATION and VERN WAGNER dated
November 11 ,2009.
. "Should the parties mutually agree to allow more than 100 head per month,
$12.00 per additional head over 100 shall be added to the $1,200.00 monthly payment
and the per acre rate shall be adjusted accordingly by addendum to this agreement."
Dated this 11th day of November, 2009.

LESSOR:
THOUSAND PEAKS RANCH ASSOCIATION

s/s/ Dennis A Kist           
By:  Dennis A. Kist
Its: President

LESSEE:
VERN WAGNER

s/s/ Vern Wagner         
By:  Vern Wagner