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2021-01-28_REVISION - M1977306
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2021-01-28_REVISION - M1977306
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Last modified
12/28/2024 6:24:58 AM
Creation date
2/1/2021 7:04:00 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977306
IBM Index Class Name
REVISION
Doc Date
1/28/2021
Doc Name
Executed SO
From
DRMS
To
Highbury Resources Inc.
Type & Sequence
SO1
Email Name
DMC
SMS
Media Type
D
Archive
No
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July 2020 DE—RO01-19LM70257 <br /> applicable to the calendar quarter in which the amount becomes due)plus three(3)percent.The Federal Short- <br /> Term Rate is the rate published monthly by the Internal Revenue Service pursuant to Section 1274(d)of the <br /> Internal Revenue Code.Additional interest shall be assessed for each subsequent calendar quarter until the amount <br /> is paid. <br /> (b) Amounts shall be due at the earlier of the following dates: <br /> (1) The date fixed under this Lease;or, <br /> (2) The date of the first written demand for payment consistent with this Lease,including any <br /> demand resulting from a default cancellation. <br /> (c) Notwithstanding the provisions of paragraphs(a)and(b)of this Article VI,and regardless of <br /> interest payments made by the Lessee to DOE'pursuant thereto,the Realty Officer, in his or her sole discretion, <br /> may cancel this Lease for failure by the Lessee to pay the entire principal amount of any annual royalty or bid <br /> royalty within sixty(60)calendar days after payment thereof is due from the Lessee to the DOE under the terms of <br /> this Lease.Such cancellation shall be effective upon Lessee's receipt of a written notice by certified mail thereof <br /> from the Realty Officer. Failure of DOE to exercise its right to cancel shall not be deemed to be a waiver thereof <br /> VII. USE OF SURFACE. <br /> (a) Subject to the other provisions of this Lease,the rights granted to the Lessee herein include the <br /> right to use so much of the surface of the Property as is required for the exploration for—and development,mining, <br /> and removal of—ore, including the right to erect such buildings and other structures and install such machinery and <br /> other facilities as may be required for such operations,provided that the Lessee shall recognize existing uses and <br /> commitments in the form of grazing,timbering,U.S. Department of Interior,Bureau of Land Management <br /> special-use permits,and public recreation;and improvements such as water developments,ditches,roads,trails. <br /> pipelines,telephone lines,telegraph lines,power lines,fences,and rights-of-way of record or not.The Lessee shall <br /> conduct its operations so as to interfere as little as possible with such existing uses and improvements. <br /> (b) The Property shall at all times be subject to other lawful uses granted by the Government,through <br /> any authorized agency,provided that such uses shall not prevent,obstruct,or unduly interfere with any right <br /> granted under this Lease. <br /> VIII. LEASES FOR OTI IER MINERALS.The granting of this Lease shall not preclude the issuance by the <br /> Government of other leases for the Property for the purposes of mining and extracting oil,gas,oil shale,coal, <br /> phosphate,potassium,sodium,sulphur,or other minerals which are or may in the future be leasable pursuant to <br /> —4--- <br />
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