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e. Term. 'The Term of this lease shall be for a period of Seven (7) <br /> months commencing} on _ 2018. <br /> crit ICI <br /> 2. <br /> Sales Royalties. <br /> a. Subject to Paragraph 3.13. and 4, for all Materials sold from the <br /> Property during each calendar month, the Company shall pay to Lessor <br /> a "Sales Royalty- calculated as follows: <br /> b <br /> 1. )er ton for all sand and gravel, aggregate, overburden or any <br /> other material. <br /> ii. All payn;cnts shall be made within twenty (20)days after the close <br /> of each calendar month. <br /> c. The Company shall keep and maintain adequate and accurate records <br /> of the quantities of Materials mined and sold. The Sales Royalty <br /> payments shall be accompanied by a monthly statement with the <br /> royalty calculation that includes an accounting of the tons of Materials <br /> mined from the Property and sold or deemed sold pursuant to <br /> Paragraph >.C. for the month. Lessor shall have the right at all <br /> reasonable times during businc:>> hours and upon reasonable prior <br /> notice to examine such records of the Company at the offices of the <br /> Company and to ‘crify the quantities of Material removed and sold, <br /> and the accuracy of the scales used to weigh the Materials. <br /> 3. Weighing of Materials: Commingling. For purpose of calculation of Sales <br /> Royalty, quantities of Materials removed from the Property on which Sales <br /> Roy al ty is due «-ill be measured as follows: <br /> a <br /> Use of Scales: An materials shall be weighed on a certified scale upon <br /> sale and removal from the Property. If materials on which sales <br /> royalty is due are mixed with non-excavated materials (for example, in <br /> case of mixing sand and gravel with nater and Portland Cement in the <br /> concrete batch plant), then for purpose of calculating the sales royalty. <br /> the weight of the Subject material used in the mixture ill be <br /> determined using the certified scales at the Property to measure the <br /> weight of the materials that comprise the mixture and deducting the <br /> weight of the added non-excavated materials. if necessary. <br /> b. Scale Adjustments: Accuracy of the scale shall be checked, and <br /> adjustments made at least as often as required to continue to be <br /> certified. Records of the accuracy check and adjustments shall be <br /> preserved and made available in the same planner as other records. <br /> , <br /> Lessor Initials _ i, !f� <br /> Lessee Initials .2 • <br />