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determine the feasibility of mineral extraction from the Leased Premises. <br /> 19adarmiJan Report: A full report detailing the results of the exploration <br /> activities must be submitted to the Lessor within two (2) years of the effective <br /> date of this Lease. The report shall include all data collected during exploration. <br /> If the Lessee pursues diligent exploration and determines that development of <br /> the minerals is economically feasible, a Mining and Operations Plan (per the <br /> requirements of Paragraph 17) must be submitted to the Lessor for review and <br /> approval within two (2) years of the effective date of this Lease. <br /> ExCl�ratiall ftwili~t:: An Exploration Deposit of $25,000 must be provided to <br /> the Lessor upon the execution of this Lease. The Lessee may request a refund of <br /> the Exploration Deposit, or may request that the deposit become an AMR that <br /> shall be credited upon the first royalties due as herein provided for minerals <br /> actually produced from the Leased Premises. The failure to submit a Mining and <br /> Operations Plan within two (2) years of the effective date may subject this <br /> agreement to termination by the Lessor. <br /> If the Lessee determines that development of the minerals is not economically <br /> feasible, the Lessee may request a refund of the Exploration Deposit. The Lessor <br /> shall have sole discretion to determine whether the requirements for diligent <br /> exploration have been met and a refund of the Exploration Deposit is appropriate. <br /> The determination will be based on whether the Lessee compiled sufficient <br /> information to delineate the mineral resources included in the Leased Premises. <br /> 9. AIJUL .AR USE: Lessee may remove ores, minerals, and other mined <br /> materials, and place on the Leased Premises stock piles of material mined from <br /> this Lease and such equipment as is necessary for this removal pursuant to <br /> Paragraph 2. All ancillary uses such as materials storage and or processing from <br /> offsite operations, and any other uses not specifically mentioned herein will be <br /> subject to the approval of Lessor and will require a yearly rental payment of no <br /> less than five hundred and no/100 Dollars ($500.00) acre. Haul roads <br /> and/or access roads not on this Lease but on other Lessor owned lands will be <br /> subject to a separate permit and require approval of Lessor. <br /> 10. REPORTS AND RECORDS: After operations begin, it is agreed that on or <br /> before the last day of each month during the term of this Lease, Lessee shall <br /> submit a sworn, verified, written report to Lessor, in which report shall be <br /> entered and set down the exact amount in weight of all products and the assay <br /> thereof mined and removed from said Leased Premises during the preceding <br /> calendar month. Lessee agrees to keep and to have in possession complete and <br /> Page 6 of 20 <br />