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Docusign Envelope ID 2AEFE7F6-AB44-417F-969E-AA4F283CF777 <br /> necessary acting in its sole and absolute discretion. To engage in activities other than the <br /> Approved Activities on the Leased Land, the Board may condition approval upon Lessee's entry <br /> into an amendment to this Lease and adjustments to the Lease terms including, without <br /> limitation, increase of the bond described in Section 8. For the purposes of illustration, and <br /> not limitation, examples of activities requiring advance written approval from the Board <br /> include construction of drill pads, construction of access roads, trenching, and/or test pits. <br /> Lessee may only use the Leased Land for the purposes specified herein. This Lease does not <br /> grant Lessee any right to access, use, or otherwise disturb adjoining property whether or not <br /> the adjacent property is owned by the Board. For the avoidance of doubt, Lessee's access <br /> rights are expressly subject to this Lease and shall terminate with this Lease. <br /> Lessee shall not establish any water rights on or involving the Leased Land, and water shall not <br /> be used or withdrawn in any amount on the Leased Land except by specific written permission <br /> of the Board and the surface owner and on such terms and conditions set forth by the Board <br /> and surface owner. <br /> 3. TERM - This Lease shall be for a term of 3 years from the Effective Date and expiring <br /> 8/14/2027 (the "Lease Term"). <br /> 4. RESERVATION - The Board reserves all rights, privileges, and uses of every kind or nature not <br /> specifically granted to Lessee by this Lease, including but not limited to, the right to access, <br /> lease, sell, exchange or otherwise dispose of all or any portion of the Leased Land during the <br /> Lease Term. <br /> 5. THIRD PARTIES - This Lease is subject to all existing easements and rights-of-way of third <br /> parties and the rights of existing surface owners, lessees, and lessees as shown in Exhibit B <br /> (collectively, "Third Parties") attached and incorporated herein by reference. Lessee shall <br /> notify Third Parties of Lessee's intention to enter upon the Leased Land and will, in every way, <br /> respect the rights of such Third Parties to the end that the least inconvenience and damage <br /> may be caused them by Lessee under this Lease. Prior to surface disturbance, Lessee shall <br /> notify existing Third Parties when they will be on the property. Notice must be provided 10 <br /> days prior to access. <br /> 6. DAMAGES - Lessee shall immediately notify the Board, and any applicable Third Party, of any <br /> damages or claims arising from activities under this Lease. Lessee shall be solely responsible <br /> for any damages to the lands and personal and private property, including but not limited to <br /> livestock, crops, fences, gates, culverts, irrigation systems/structures, wells, stock watering <br /> facilities, roads, power lines, buried pipe lines, water lines, etc. Lessee shall settle damage <br /> claims within sixty (60) days after the damage occurs, unless otherwise authorized by the <br /> Board. <br /> Any damage done by Lessee to the Leased Land, native grass or timber, or state-owned <br /> improvements, shall be paid for by Lessee to Board. <br /> 7. SURRENDER- Lessee may at any time surrender this Lease by paying to the Board all amounts <br /> then due and submitting a written request to surrender. The Board's approval of a surrender <br /> shall not release Lessee from any liability for known or unknown waste or damage to the <br /> Leased Land, including environmental damage which arose from, or in connection with Lessee's <br /> EP 116819 Page 2 of 14 Revised_DOL_20240701 <br />