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16/08 '00 YEN 11:57 FAX 418 602 2420 CARRIE= POLYCOR INC Qoo9 <br />the parties shall meet and negotiate in good faith on the terms and caat8itions of tiw lease <br />cement to be in plane for tbs Rawmal TOM Upon to UM&44Z of the lands] Tenn or <br />the Renva -al Teaam, Legs pcw Y shall sml der d, Pmperiy sad "1 14 hold ever <br />beyyond. the Term provided. <br />2.3 Lesset'3 WOO to Tejo. Notwiffistandm an <br />��'Y, and mate i1 Yprovisaon cowed hmsia to the <br />abov Lesser �ecaecally, but without lisaitbation, the provisions of p 22 <br />0. shall have the option Ua #emrinste tlris ,aj by wtttmt wotiee m Lessor <br />rw later f= Dwcetnber 31, 2008, said te�minatioa to become avaaat Lessee does act provide sucdt written notice m Lessor Ime 30.2009. In the <br />tbis AfmB43ent emotive 11M 30, 2009, Ws � nut &W remain in full hm WA rivet <br />therea8ee until Lessee dal have a socomd op U=kwte this Agreement by written <br />notice to Lessor rno later than Dccamber 31, 2013, said tamdnagon to become e$ective Juste <br />30, 2014. In the amt Lessee dues not provido written notice to Lessor as set $mth herea4 <br />the ABreemeatt shun coattinno and remain in lull €owe, and eftat t>arough the duration of the <br />l aitial Term subject to Lessee's xWj to reuox+ said AV=nw as hmrin p ovkje& <br />2.4 hjb* m Royalty. on the ��enoamant of the WtW T <br />MWbnum Royalty of Tern Thousand Dollars 10,.000) A r tine period sleep Pay Lessor a <br />April 26.2004 tbmugh <br />h=30,209 Oa dulyl, ZOOe1 and at the beghming of each calendar qua W Octobw i <br />lauumy 1. mid April 1, ft*ugb June 30, 2007, Lmseo shall pay Lessor the patter <br />as provided m+Mwadabine MinimumR.oyalty of Ten Tbvusand Dollars ($1Q000) subject to a4u mart <br />�..,� each calendar q �pct�ber Commencing <br />1, and A 17' and coabnumg on the frtst day of <br />"wtw, ' 1� , tlatougtt the <br />and m' Renewal Tar= of dw Lease, the �8 Initial Tema <br />Article 2 ofthc Lease shall be Tw � Royalty payable to Lessor as set %xth in <br />e wtt as provided - `Z7musaaad Dollars ($7A,000) Fa' quarter, subject to <br />i� w ptaragraph 2.6. <br />2.5 Production Royalty. Lessee sha11 pay to Lessor a Production Royalty of $1.10 pea cable foot <br />of Blocks Saved dw�ng the ,previous calendar quartet' which <br />I= �Y (30) days following the close of do Payment shall be made no 1ate� <br />!g ► will be crezIitieal a PLOW calendar quw *. qj*jg *6 r� ) <br />un .. Prlot ctnaua.koyalty $� Thatariat� #be Pt ard#ori <br />... r of the •%itial :�`ea�' gso0kis ihe.uffi <br />PAY009 .foe Produodoa l[Loyatcy win be anado by Lessee adds ui0 <br />> m btoyaltles access of tine Umh mn Royaky win scam Wda duZwg each live <br />Yea Pmiod of glee Initial Term cojnmenatttg 7m uery 1, 2005, and will be credited againat <br />the M%Mmm Ro*V due for each <br />quarter tatting such ffve yearFeniod. <br />2,6 Royatly A4iastmamts. It is understood and agreod that an royattlae due and payable <br />hereamdw, both t um Rnyalt, and Prodnetioa RYahY, ad all ammulatim and <br />craft of each against the nether as herembefue <br />Iud+eac �ustmettt every five years d �, are subject to a ,Price <br />made effective ant d the Initial Tema. Tim each �t Shan be <br />Producdoa R,Q�l, 200$. F� and after esah ' <br />yally for the ensuing &D yW � d sball � urn <br />Royally and the Production ROYft, rospec&v*, fbr the Preceding <br />�� prod �tiplied by a fraction the five year <br />Noun4Vletaitic npm�or of'which 81aa11 be the >�ucer Price haler for <br />�, Commodity Coda 13, as published byt w Hafted States beparWaW <br />