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3. The term of this lease agreement shall be from September 1, 2017, to <br /> August 31, 2020, and may be extended by the Lessee for an additional period of three <br /> (3) years, upon written notice of such extension given to the Lessors at least ten days <br /> before the expiration of this lease. <br /> 4. The Lessee shall pay the Lessors for all sand and gravel mined and <br /> taken from the property herein leased as follows: <br /> a. Single axle dump truck load: $4.00 <br /> b. Tandem axle dump truck load: $6.50. <br /> C. Semi load: $9.00 ` <br /> 5. The Lessee shall pay all real property taxes assessed to the property, or <br /> that may be assessed against the property, during the term of the lease agreement and <br /> any extensions. <br /> 6. The Lessee shall have all rights necessary for the mining and removal of <br /> the sand and gravel, concerning the subject Property, including the right to stockpile the <br /> sand and mineral on the Property or other lands adjacent thereto and owned by the <br /> Lessors but within the boundary of the leased area. <br /> 7. Upon completion of the lease term, the Lessee will revegetate those <br /> portions of the Property damaged by the mining and extraction of sand and gravel. All <br /> affected areas will be reseeded with a native grass seed mixture recommended by the <br /> Natural Resources Conservation Service. The Lessee will have the authority to <br /> temporarily fence the affected area following revegetation so as to allow undisturbed <br /> growth (if the Lessee deems fencing to be necessary). <br /> 8. Upon termination of this agreement and upon Lessee completing the <br /> reseeding requirements, Lessor agrees to assume full responsibility for the condition of <br /> the property and to hold the Lessee harmless from any and all claims by, or liability to, <br /> third parties arising after the termination of this agreement. <br /> 9. Should there be damage to the Property due to permanent man-made <br /> structures, or alterations, which were the result of mining the Property, the Lessee shall <br /> compensate the Lessors for such damage in an amount mutually agreeable to the <br /> parties. <br /> 10. During the excavation of the sand and gravel, the Lessee shall exercise <br /> reasonable care to not conduct mining operations when muddy conditions exist in the <br /> pit or on the haul road, so as to minimize damage to Lessors' Property. <br /> -2- <br />