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SECTION 1.2. Transportation Rights. Grantor does hereby bargain, lease, let and grant <br /> unto Grantee the right and easement to transport across the Property minerals, mining equipment, <br /> personnel, supplies and any and all other things necessary in connection with its Operations on <br /> lands other than the Property. <br /> SECTION 1.3. No Mining on Property. Grantee hereby agrees not to mine or extract <br /> gold or any other metals from the Property. <br /> ARTICLE II <br /> TERM OF THE AGREEMENT <br /> SECTION 2.1. Term and Extensions. The terms and obligations of this <br /> Agreement shall commence upon Grantee's receipt of an approved mine permit("Mine Permit") <br /> from the Colorado Division of Reclamation, Mining & Safety ("CDRMS") (the "Effective <br /> Date"). The Grantee shall forthwith advise the Grantor when it obtains the Mine Permit and <br /> shall forward a copy of the Mine Permit to the Grantor. This Agreement shall continue in full <br /> force and effect for a primary term of twenty (20) years from and after the Effective Date. The <br /> Grantor hereby grants the Grantee the right to extend this Agreement for three (3), five (5) year <br /> extension terms ("Extension Term") on all the same terms and conditions provided (i) the <br /> Grantee is still conducting Operations, or intending to recommence operations after temporary <br /> closure while the Operations are under care and maintenance for whatever reason, under a Mine <br /> Permit that covers any portion of the Property or the Claims and (ii) the extension is requested in <br /> writing two (2)months prior to termination of the primary term or subsequent Extension Term. <br /> SECTION 2.2. Quiet Enjoy Grantor shall provide Grantee with quiet use and <br /> enjoyment of the Property during the term of this Agreement, including any Extension Term, <br /> without any hindrance or interruption by Grantor or by any other person, provided that Grantee <br /> has paid the annual rent as provided for in Section 3.1 and otherwise performed its material <br /> obligations under this Agreement. Grantor shall have no ownership or other interest in any of the <br /> Improvements (defined in Section 5.2 below), subject to the provisions of Section 10.1. Grantor <br /> hereby waives any statutory or common law landlord lien that it might otherwise have in or to the <br /> Improvements. <br /> ARTICLE III <br /> RENTAL PAYMENTS <br /> SECTION 3.1. Annual Rent Grantee shall pay unto Grantor annual rental payment in <br /> the amount of six thousand dollars ($6,000.00), payable within 10 business days from the <br /> Effective Date and thereafter on the anniversary of the Effective Date until this Agreement <br /> terminates or is terminated. <br /> ARTICLE IV <br /> TAXES AND UTILITIES <br /> 2 <br />