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at the end of the Ten (10)year term. unless the Company gives written <br /> notice to Lessor sixty (60) days before the end of term. <br /> ?. Sales Rovalties. <br /> a. Subject to Paragraph 3.13. and 4. for all 'Materials sold from the <br /> Property during each calendar month, the Company shall pay to Lessor <br /> a "Sales Royalty-calculated as follolvVs: <br /> b. <br /> i. per ton for all sand and gravel. aggregate. overburden or any <br /> other material. <br /> ii. Ali pa--irients shalt be made within twenty (20) dads after the close <br /> of each calendar month. <br /> iii. At the end of the initial fire (5) year lease term the patties agree to <br /> negotiate in good faith new royalty rates. In the event thee-do not <br /> agree to new rates they shall engage a competent arbitrator«-110 <br /> shall have the sole authority- 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 of Materials mined and sold. The Sales RovaltN <br /> pa}-ments shall be accompanied by a monthIN statement with the <br /> royalty calculation that includes an accounting of the tons of Materials <br /> mined from the Property- and sold or deemed sold pursuant to <br /> Paragraph 5.C. for the month. Lessor shall have the right at all <br /> reasonable times during business hours and upon reasonable prior <br /> notice to examine such records of the Compan} at the offices of the <br /> Company and to N erify the quantities of:Material removed and sold. <br /> and the accuracy" ofthe scales used to weigh the 'Materials. <br /> Weiuhin_ of Materials: Commingling. For purpose o'calculatior. of Sales <br /> I?ovaly . quantities of Materials rer.oN e t from tl.e Property" on <<hi h Sales <br /> Ro,µlts_ is due «-ili be meastUre j as follows: <br /> i. Lse of Sral l L _ <br /> eJ� All 11 material's shatd 1, . v%hcylltldv on it LC'ilirlyl,' S�.'Jle U0011 <br /> sale ai'_i+ rcP??C`i"ul f�onl tilt° I'ropert�. It i?l�iterl:il> O;1 <<llir=ll ��1`> <br /> �;,y alti is du;: are mixed v ith Lion-excaE c?tcd mazer i iis. <br /> -ase of mixing said aritA g%sa:ci ti"i.i dater a nir Piz?tlailii ( eraicilt lIl ti?t <br /> concrete batch plant). ther for purpose of calculating the sales ro ,.-a!t\. <br /> the weight of the Subject material used in the mixture v ill be <br /> deter:lined using the cenified scales at the Pt-opera to measure the <br /> `,reigi.t of the materials that comprise the mixture and deductin{7 the <br /> ys ei`Tht of the added non-excavated materials. if necessary-. <br /> Lessor lnitia:s t <br /> Lessee lnit als <br />