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and to all ores extracted from said premises during the term hereof, relative <br /> to the royalty, and that all settlements for royalty shall be made upon actual <br /> sale of the minerals in the ore that are taken from said premises and that the <br /> ore buyer purchasing any such ore or concentrates shall retain the amount of <br /> the royalty herein stated and shall pay the same to the royalty owner at each <br /> settlement for ore or concentrates purchased. <br /> And Venture furthermore covenants and agrees that in case Venture <br /> fails in any respect to keep and fulfill any one or more of the covenants <br /> herein expressed or implied,then,and in that case it shall be lawful for Old <br /> Town to declare said term ended, and with or without process of law to enter <br /> upon and take possession of said premises, and in such case,and also at the <br /> expiration of this lease by limitation, Venture agrees to surrender,yield, and <br /> deliver to Old Town quiet and peaceable possession of said premises in good <br /> condition and that time shall be of the essence hereof, and that all of the <br /> covenants and agreements herein contained shall extend to and be binding <br /> upon the heirs, executors, administrators, successors and lawful assigns of <br /> the respective parties hereto. <br /> IN WITNESS WBEREOF, The parties hereto have executed these <br /> presents the day apd year first above written. <br /> BYVAL <br /> � �, <br /> Mason Drake for Old To-irn Mine LLC <br /> By <br /> Patrick Maher for Venture Resources Inc. <br />