Laserfiche WebLink
If assignment of a part of this Lease is approved, a new lease, designated as an assignment, will be <br /> issued to the assignee covering the lands assigned for the balance of the term of the base lease on the <br /> lease form in use at the time of assignment and limited as to term as said lease is limited. <br /> 14. ASSIGNMENT CONSIDERATION - Assignments, if approved by Lessor, shall be subject to payment of <br /> consideration to Lessor in the amount of ten percent ( 10 % ) of the value of any consideration <br /> tendered to Lessee for the assignment. Divulgence of the value of these considerations shall be <br /> mandatory, in affidavit form, which form shalt be presented to Lessor along with the other assignment <br /> instruments in order to seek Lessor's approval for the assignment. Any attempt to withhold this <br /> information shalt render this Lease null, void and nonexistent, and all monies paid to Lessor shall be <br /> forfeited to Lessor. In addition, the current statutory fees must be paid at the time an assignment is <br /> requested. <br /> If the Lessee enters into an agreement to assign all of Lessee's right in and to the Leases and the <br /> Leased Premises (whether by record title assignment or operating rights assignment) during the first <br /> two (2) years of the Leases, the following provisions shalt apply prior to Lessor's approval of any <br /> Assignment: <br /> • If the assignment occurs within one (1) year of the Effective Date of the Lease, and the <br /> assignment consideration exceeds the per acre amount paid to the Lessor as the Lease Bonus <br /> Consideration, fifty percent (50%) of the excess amount shalt 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 Date of the Lease, <br /> and the assignment consideration exceeds the per acre amount paid to the Lessor as the <br /> Lease Bonus Consideration, twenty-five percent (25%) of the excess amount shalt be paid <br /> directly to the Lessor prior to approval of the assignment. <br /> 15. WEIGHTS -- It is agreed that all, materials mined and taken from the Leased Premises shalt be weighed <br /> and assayed and the weight and assay thereof shalt be entered in due form in weight and assay records <br /> kept for such purposes by Lessee. Ton means 2000 pounds. One troy ounce is equivalent to 31.1034768 <br /> grams. <br /> 16. STEWARDSHIP TRUST STIPULATION-- Lessor shall specify certain stipulations with respect to use of the <br /> surface if said surface is included in the Stewardship Trust prior to the issuance of this Lease. These <br /> stipulations are attached as Exhibit 1 and by this reference incorporated herein. <br /> 17. MINING Et OPERATIONS PLAN --As stated in paragraph 8, a Mining 8: Operations Plan detailing the <br /> orderly development of the mineral resources must be submitted to Lessor within 24 months of the <br /> effective date of this Lease and approved by Lessor prior to commencement of mining activities. <br /> Lessor shall notify Lessee within 45 days if it finds, in its sole discretion, that the Mining Et Operations <br /> Plan is inadequate. Supplements and modifications to the Mining Et Operatons Plan detailing the <br /> orderly development of the mineral resources shalt be submitted to Lessor for review and approval <br /> prior to the execution of any changes or modifications to mining activities as outlined in the initial <br /> Mining Et Operations Plan. Once approved by Lessor, compliance with the Mining Et Operations Plan, <br /> and any subsequently approved supplements or modifications, shall be mandatory and Lessor shall <br /> Page 7 of 18 <br />