Laserfiche WebLink
to assist Tenant with obtaining Approvals, and shall execute or otherwise authorize <br /> Approvals, provided that Landlord is not required to incur expense or liability. <br /> 4. Reclamation. Tenant shall undertake reclamation of the Property during <br /> the Mining Phase to the extent feasible, including reclaiming side slopes and mined- <br /> out areas of the pit while mining is ongoing in other areas. Reclamation shall include <br /> grading the pit bottom to a single low point designated by Central, and reclaiming <br /> side slopes within the pit to the condition required by the reclamation plan and the <br /> Central Agreement. Tenant shalt not permit stockpiles or other uses within the pit <br /> that interfere with water storage after the Mining Phase is complete, and shall comply <br /> with and promptly fulfill the requirements of the reclamation plan and any terms in <br /> the Approvals applicable to reclamation until all such requirements are satisfied and <br /> accepted and released by the permitting authorities. <br /> 5. Reclamation Bond. As of the Effective Date, the performance warranty <br /> required by DRMS has been secured with a reclamation bond guaranteed by Landlord's <br /> principals. The parties agree that prior to commencing mining operations, Tenant <br /> shall satisfy all requirements of DRMS nec to terminate the existing reclamation <br /> bond and replace it with new DRMS Warra he amount required for the State <br /> Permit, and shalt otherwise cooperate with La t no cost to Tenant, to enable <br /> Landlord to obtain the cancellation of the existin ation bond and the release <br /> of the existing bond guarantees. <br /> 6. Utilities and Water. Tenant shalt be responsible for supplying and paying <br /> for all water and utilities needed for its operations; for augmentation of evaporative <br /> losses; for maintenance and reclamation of the Property; and for compliance with <br /> applicable Approvals. <br /> 7. Royalty. Tenant shall keep accurate contemporaneous written records <br /> of each ton of Aggregate removed from the Property. Tenant shall pay Landlord a net <br /> royalty of $0.75 for each ton of Aggregate that is removed from the Property. Tenant <br /> shall pay Landlord minimum annual royalties of $50,000 for each 12-month period <br /> ending November 30, regardless of actual production. The minimum annual royalty <br /> shalt be prorated, if necessary, to account for partial Lease years. <br /> 8. Payment Terms. Tenant shall pay royalties to Landlord each month no <br /> later than 30 days following the month in which Aggregate has been removed from the <br /> Property. Payments shall be sent via first class mail or courier to Landlord at the <br /> above address, or at such other address as Landlord may notify Tenant of in writing, <br /> or via direct deposit or electronic bank transfer, together with a summary of the load <br /> tickets showing the quantity of Aggregate removed during the preceding month <br /> (including Aggregate sold to and removed by Tenant). No summary shalt be required <br /> for any month during which no Aggregate has been removed. On or before December <br /> 31 of each year, Tenant shall pay Landlord any remaining portion of the minimum <br /> annual royalty attributable to the 12-month period ending November 30 of the then- <br /> current calendar year. <br /> 3 <br />