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2018-10-11_PERMIT FILE - M2018053
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2018-10-11_PERMIT FILE - M2018053
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Last modified
1/4/2025 5:51:13 AM
Creation date
10/11/2018 2:16:26 PM
Metadata
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Template:
DRMS Permit Index
Permit No
M2018053
IBM Index Class Name
PERMIT FILE
Doc Date
10/11/2018
Doc Name
Application
From
Titan Au, Inc.
To
DRMS
Email Name
DMC
WHE
Media Type
D
Archive
No
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immediately after public notice. Said schedule may be changed from time to <br /> time after notice. <br /> 13. GNMENT._ Lessee may not assign this Lease in whole or part of the Leased <br /> Premises except with the written approval of Lessor. No assignment of undivided <br /> interests or retention or reservation of overriding royalties will be recognized or <br /> approved by Lessor. The effect, if any, of any such assignments or reservations <br /> will be strictly and only as between the parties thereto and outside the terms of <br /> this Lease. No dispute between parties to any assignment or reservation shall <br /> operate to relieve Lessee from or postpone performance of any terms or <br /> conditions hereof. Lessor will at all times be entitled to look solely to Lessee or <br /> his assignee shown on Lessor's books as being sole owner hereof, and for the <br /> sending of all notices required by this Lease,for the performance of all terms and <br /> conditions hereof. <br /> If assignment of a part of this Lease is approved, a new lease, designated as an <br /> assignment, will be issued to the assignee covering the lands assigned for the <br /> balance of the term of the base lease on the lease form in use at the time of <br /> assignment and limited as to term as said lease is limited. <br /> 14. ASSXGNMENT_CQNS1QEH ON: Assignments, if approved by Lessor, shall <br /> be subject to payment of consideration to Lessor in the amount of ten Rercent <br /> (I0%) of the value of any consideration tendered to Lessee for the assignment. <br /> Divulgence of the value of these considerations shall be mandatory, in affidavit <br /> form, which form shall be presented to Lessor along with the other assignment <br /> instruments in order to seek Lessor's approval for the assignment. Any attempt <br /> to withhold this information shall render this Lease null, void and nonexistent, <br /> and all monies paid to Lessor shall be forfeited to Lessor. In addition, the current <br /> statutory fees must be paid at the time an assignment is requested. <br /> If the Lessee enters into an agreement to assign all of Lessee's right in and to <br /> the Leases and the Project Acreage (whether by record title assignment or <br /> operating rights assignment) during the first two (2) years of the Leases, the <br /> following provisions shall apply prior to Lessor's approval of any Assignment: <br /> • If the assignment occurs within one (1) year of the Effective Date of <br /> the Leases, and the assignment consideration exceeds the per acre <br /> amount paid to the Lessor as the Lease Bonus Consideration, fifty <br /> percent(50%) of the excess amount shall be paid directly to the Lessor <br /> prior to approval of the assignment. <br /> • If the assignment occurs between one and two years after the Effective <br /> Date of the Leases, and the assignment consideration exceeds the per <br /> acre amount paid to the Lessor as the Lease Bonus Consideration, <br /> twenty-five percent (25%) of the excess amount shall be paid directly <br /> Page 8 of 20 <br />
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