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RESERVING, however, to Lessor: <br />A. All rights and privileges of every kind and nature, except as are herein specifically <br />granted. <br />B. The right to use or lease the Leased Premises or any part thereof at any time for any <br />purpose, including the right to explore and prospect said premises, which use and <br />leasing of said premises shall be for purposes other than and not inconsistent with the <br />rights and privileges herein specifically granted. <br />C. The right at all times during the life of this Lease to go upon said premises and every <br />part thereof for the purpose of inspecting said premises, and the books of accounts and <br />records of mineral workings therein, and of ascertaining whether or not said Lessee and <br />those holding thereunder by and from it, are carrying out the terms, covenants and <br />agreements in this Lease contained. <br />TO HAVE AND TO HOLD the above described Leased Premises unto Lessee, its heirs, successors, <br />assigns, or legal representatives for the primary term of 10 years, and until Twelve O'clock noon <br />on the 5th day of February, 2025, subject to the following terms, conditions and agreements, <br />to wit: <br />1. ADVANCE MINIMUM ROYALTY -- As minimum and advance royalty, without relation to the <br />amount of minerals mined from the Leased Premises, Lessee shalt pay annually in <br />advance to Lessor the following amounts: <br />LEASE YEAR AMR <br />1 -10 $0 <br />If Lessee does not extract minerals from the Leased Premises sufficient to return to <br />the Lessor the minimum amounts above specified, it is nevertheless understood that the <br />above sums of money are due and payable to Lessor whether or not minerals are mined, <br />but that such advance minimum royalty shalt be credited upon the first royalties due as <br />herein provided for minerals actually produced from the Leased Premises. In the <br />absence of production of minerals in continuous paying quantities before the expiration <br />date of the Lease, all advance minimum royalties shalt be forfeited to Lessor. <br />In case of assignment of this Lease, all advance minimum royalty paid to the <br />Lessor shall be carried forward and credited to the new assignee. <br />2. PRODUCTION ROYALTY -- Lessor reserves as royalty, and Lessee agrees to pay to Lessor <br />on or before the last day of each calendar month following a month of production of <br />sand and gravel the following amounts: <br />e The royalty rate shalt be $_2.55 per ton (2000 pounds), or jg,.22 per cubic yard, <br />of sand Et gravel produced and sold from the Leased Premises. To the extent <br />Lessee calculates royalties by measurement of cubic yards, those provisions of <br />this Agreement which contemplate calculation of measurements by weight <br />(including, without limitation, scale certifications and reports) are inapplicable, <br />and such provisions shall be deemed modified to allow measurement by volume <br />Page 2 of 13 <br />