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a. Tenant shall provide to Landlord monthly reports showing the quantity of materials <br /> mined and shipped during the preceding month.Monthly reports shall be delivered by <br /> mail or personal services,to Landlord on or before the 20th of each month. Contained <br /> within each report shall be royalty payments,calculated pursuant to the terms herein. <br /> b. If any monthly payment is not mailed or sent within 10 days of any due date,Tenant <br /> agrees to pay a late charge of 1.5%per month interest of any unpaid monthly amount, in <br /> addition to monthly amount due. <br /> c. Tenant shall keep an accurate record of all materials mined and removed from the <br /> premises and sales thereof. Landlord shall have the right at any time Monday through <br /> Friday, 8:00 A.M.to 5:00 P.M.and upon 24-hour advance notice to Tenant to examine <br /> the books and records of Tenant for purposes of verification of amounts payable herein. <br /> d. Tenant shall use its own truck scales,or loader scales,to be located up the premises,and <br /> shall weigh all materials prior to shipping material from the premises. Truck scales shall <br /> be certified by the State of Colorado on an annual basis,at Tenant's expense. <br /> 3. Tenant shall have the right to make use of all roadways presently existing on the premises and <br /> shall have the further right to upgrade or widen such existing roads as pertaining to the mining <br /> and removal of materials hereunder. In upgrading or widening of roads,Tenant may use <br /> materials from the premises and Tenant shall not be required to pay royalties to Landlord for <br /> materials so used. Tenant shall not build new roads upon the premises without written consent of <br /> Landlord. <br /> 4. Tenant may construct and operate a crushing, screening,water tanks and mixing equipment to <br /> process mined and imported materials.Tenant may also have the right to allow campers,or <br /> portable housing on the premises for its employees. <br /> 5. Upon termination of this lease,with the exceptions of any roads and culverts constructed on the <br /> premises,Tenant shall have the right to remove any equipment,plants or other improvements <br /> constructed on the premises. Tenant shall have a reasonable period of time following termination <br /> within which to remove the above as such reasonable time is sgVorth as six(6)months following <br /> termination.Tenant shall have the right to keep sufficie, t equipment upon the premises following <br /> termination to perform any and all reclamation work until completion of reclamation work to the <br /> satisfaction of all reclamation authoe , <br /> 6. Landlord agrees to timely pay all real estate taxes levied upon the premises.Tenant shall pay <br /> mineral severance taxes,as said taxes become due,and which are levied upon premises. Tenant <br /> agrees to pay any taxes resulting from Tenant's equipment. <br /> 7. If any default is made in the performance of,or compliance with,any other term or conditions of <br /> this lease,Landlord shall give written notice on the default to Tenant. The written notice shall <br /> specify each and every term or conditions which the Landlord claims is a default by Tenant. For <br /> nonpayment of rent or royalties,Tenant shall have ten(10)days after notice to cure said default. <br /> For any other default,Tenant shall have thirty(30)days to cure said default. In the event that <br /> Tenant fails to pay,correct,remove,or cure said default within such period,Landlord may,at its <br /> option terminate this lease. <br /> a. Any notices between the parties,required or desired herein,shall be sent to the addresses <br /> set forth herein or other such address of Tenant,or Landlord,or any substitute address <br /> provided by either party. <br /> •IPage /G <br />