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8' PENALTIES β€”A penalty shall be imposed for, but not limited to, late payments, improper <br />payments, operational deficiencies of any kind whatsoever, violations ofany covenants <br />of this Lease, or any false statements made to Lessor. Penalties shalt bodetermined by <br />Lessor unless otherwise provided for by taw and may be in the form of, but not limited <br />to, interest, fees, fines, and/or lease cancellation. 4 penalty schedule shall beprepared <br />by Lessor and shall become effective immediately after public notice. Said schedule <br />may be changed from time to time after such notice. <br />9. ASSIGNMENT β€” Lessee, only with prior vvritten consent of Lesuor, may assign this Lease <br />as to the leasehold interest of such Lessee in all orpart of the lands covered not <br />less, however, than tracts of approximately forty (40) acres or governmental lots <br />corresponding to a quarter-quarter section for any partial assignment. Any transfer or <br />assignment, or attempted transferor assignment, of any ofthe rights granted, without <br />such consent in writing, shall be absolutely void, and at the option of the Lessor' shalt <br />terminate this Lease. <br />No assignment of undivided interests or retention or reservation of overriding <br />royalties will be recognized or approved by Lessor, and the effect, if any, of any such <br />assignments or reservations wilt be strictly and only as between the parties thereto and <br />outside the terms of this Lease. No dispute between parties to any assignment or <br />reservation shall operate to relieve Lessee from performance of any terms orconditions <br />hereof nrto postpone the time therefore. Lessor wilt at all times be entitled to took <br />solely to Lessee nr his assignee shown on Lessor's books as being sole owner hereof, and <br />for the sending of aii notices required by this Lease, for the performance of at[ Lerrny <br />and conditions hereof. <br />If an assignment of part of this Lease is approved' a new tease designated as an <br />assignment tease wilt be issued to the assignee covering the |ands assigned for the <br />balance of the term of the base lease on the mining lease form in use at the time of <br />assignment and limited as to term assaid lease is limited. <br />10\ ASSIGNMENT CONSIDERATION β€” The consideration for approval of assignment by Lessor <br />shalt be10% of the value of any consideration tendered to Assignor by Assignee for the <br />assignment. Divulgence of the value of these considerations shalt be mandatory, in <br />affidavit form, which hnr/n shalt be presented to Lessor along with the other assignment <br />instruments in order to obtain Lessor's approval for the assignment' An assignment <br />approved by the Lessor does not constitute a new lease but is a continuation of this <br />Lease. Any attempt to withhold this information shall be construed asan attempt to <br />defraud the State of Colorado and shall render this Lease terminated at the discretion of <br />the Lessor' and all moneys paid to Lessor shall be forfeited to Lessor. In addition, the <br />current statutory fees wilt be paid at the time the assignment record form is submitted. <br />11' WEIGHTS β€”To the extent Lessee calculates royalties bv weight (rather than bvvohune), <br />it is agreed that all ores, minerals and other materials mined and taken from the Leased <br />Premises shall be weighed and assayed and the *eight and assay thereof shalt be <br />entered in due form in weight and assay records kept for such purposes by Lessee. <br />Page 5 of 13 <br />