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containing 865.97 acres, more or less, (the "Leased Premises") together with the right to use as much <br /> of the surface as may be reasonably required, including the right to reasonable ingress and egress; the <br /> right to make excavations, stockpiles, and other improvements as may be reasonably necessary in the <br /> mining and removal of said Minerals; subject, however, to all existing easements and rights-of-way of <br /> third parties, as detailed on Exhibit A to this agreement, and the rights of surface lessees and surface <br /> owners, and further subject to the terms, conditions and agreements set out in this Lease. The <br /> above-mentioned rights may be exercised in connection with mining on other or adjacent lands only <br /> when mining on such lands is carried on in conjunction with the actual mining on the Leased Premises. <br /> The benefits, terms, and obligations of this Lease shall extend to and be binding upon the heirs, <br /> executors, administrators, successors, or assigns of the respective parties hereto. <br /> RESERVING, however, to Lessor: <br /> A. All rights and privileges of every kind and nature, except as are herein specifically granted. <br /> B. The right to use or lease said premises or any part thereof at any time for any purpose, <br /> including the right to explore and prospect said premises, which use and leasing of said <br /> premises shall be for purposes other than and not inconsistent with the rights and privileges <br /> herein specifically granted. <br /> C. The right at all reasonable times during the life of this lease to go upon said premises and every <br /> part thereof for the purpose of inspecting the Leased Premises, and the books of accounts and <br /> records of mineral workings therein, and of ascertaining whether or not said Lessee and those <br /> holding thereunder by and from it, are carrying out the terms, covenants and agreements in this <br /> lease contained. <br /> TO HAVE AND TO HOLD the above described Leased Premises unto Lessee, its heirs, successors, assigns, <br /> or legal representatives for the primary term of 10 years, and until Twelve O'clock noon on the 13th day of <br /> April, 2026. The Lease may continue in effect for an additional 20 years to the 13th day of April, 2046 (the <br /> "Secondary Term") as long as Minerals are being produced in paying quantities from said Leased Premises and <br /> subject to the terms of paragraph 1 of this Lease, and the royalties and rentals provided for herein are being <br /> paid, subject to the following terms, conditions and agreements, to wit: <br /> 1. ADVANCE MINIMUM ROYALTY -- As minimum and advance royalty (the, "AMR"), without relation to the <br /> amount of Minerals mined from the Leased Premises, Lessee shall pay annually to Lessor, by the <br /> anniversary date of the Lease, the following amounts: <br /> Lease Year AMR Lease Year AMR <br /> 2016 $0.00 2021 See Subparagraph 1(b) <br /> 2017 $200,000.00 2022 See Subparagraph 1(b) <br /> 2018 $200,000.00 2023 See Subparagraph 1(b) <br /> 2019 $200,000.00 2024 See Subparagraph 1(b) <br /> 2020 $200,000.00 2025 See Subparagraph 1(b) <br /> Page 2 of 15 <br /> 1752470 2 <br />