Laserfiche WebLink
e. Term. The Term ofthis lease shall be lur a period of live (5) }ears <br /> commencing on July 1". 2018. The lease shall rcnet\' autc)matically at <br /> the end ofthe Dive (5) year term. unless the Company gives written <br /> notice to Lessor sixty (60) days before the end ofterm. <br /> ?. Saks Rovaltics. <br /> a. Subject to Paragraph 3.13. and 4. for all Materials sold from the <br /> Property during' cash calendar month. the Company shall pa} to lessor <br /> a -'Sales Rovalty­ calculated as follo\\s: <br /> b - - <br /> i. i)er ton for all sand and gravel. ag-g-regate. o\Vrburden or any <br /> other material <br /> 1r. :III payments shall be made \\ttllin twenty (21_)) days after the close <br /> of each calendar month. <br /> 6i. At the end of the lmtlal five (5) year lease term the parties agree to <br /> negotiate in good faith ne\\ royalty rates. In the e\cnt they, do not <br /> auree to ne\\ raps they shall engage a colllpetent arbitrator"ho <br /> shall We the sole at►tho&v to decide the ne\\ royalty rates. and <br /> the parties shall be so bound. <br /> C. The Company shall keep and maintain adequate and accurate records <br /> of the quantities ofMcr & mined and sold. Ile Sales Royalty <br /> payments shall be accompanied by a monthly statement %%Ali the <br /> royalty calculation that includes an accountin,! of the tons ol'%laterials <br /> mined From the Property and sold of dec ned sold PLI Suant to <br /> Paragraph J.C. for the month. Lessor shall ha\e the right at all <br /> reasonable times during business hours and upon reasonable prior <br /> notice to examine such records of the Company at the offices of the <br /> Company and to verify the quantities of Material removed and sold. <br /> and the accuracy ofthe scales used to \\cigh the Materials. <br /> ciudiinu of Materials: C o111mrndhma. For purpose of calculaWil of Sales <br /> Royalty- quantities of Materials rerno\ed from the Property on \\hick Sales <br /> Royalty is due \\iII be measured as Adlo"s: <br /> a. l'se of Scales: All materials shall he \\ ghed on a certified We upon <br /> sale and rerrlo\al from the Property. I f materials on \\hich sales <br /> royalty is due are mixed \\ith non-excavated materials (for example. in <br /> case of mixing sand and gm\vl with water and Pordand Cement in the <br /> concrete hatch plant). then for purpose ofcakulating the sales royalty. <br /> the \\cight of the Subject material used in the mixture \\ill be <br /> determined using the certified scales at the Pruperty to Measure the <br /> weight of the materials that comprise the mixture and deducting the <br /> \y ght of the added non-cxrn ated materials. if necessary. <br /> Lessor Initials <br /> Lessee Initials • __ �� <br />