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• July 2020 DE—RO01-19LM70256 <br /> (i) "Uranium Leasing Program"or"ULP"means that program whereby DOE LM administrates <br /> uranium mining leases on withdrawn land under the Atomic Energy Act of 1946,as amended. <br /> (j) "Royalty"means any payment based on the value or volume of production which is due to the <br /> United States or any minimum royalty owed to the United States under any provision of this lease. <br /> (k) "Royalty Bid Payment"means the amount of royalty per dry ton of ore delivered from the <br /> Property to a mill or other receiving station,in the amount of 15.02 percent(15.02%)of the value per dry ton, <br /> determined as provided in paragraph(g)of Appendix B to this Lease. <br /> (1) "Royalty Payment"means the annual amount of royalty as specified in this Lease or in applicable <br /> leasing regulations that the Lessee must pay as specified in Appendix B to this Lease. <br /> (m) Article titles and headings,as used throughout this Lease,are inserted for convenience only,and <br /> shall not be deemed to be a part of this Lease or considered in construing this Lease. <br /> IV. GENERAL PERFORMANCE REQUIREMENT.The Lessee shall conduct all activities in accordance <br /> with applicable statutes and regulations,including but not limited to 10 C.F.R.§.760.t,and the terms and conditions <br /> of this Lease and with consideration of current market conditions.Furthermore,the Lessee shall conduct <br /> exploration,development,and mining activities on the Property with all reasonable diligence,skill,and care,as is <br /> required to systematically advance lease operations toward,and ultimately achieve and maintain.production of <br /> uranium ore consistent with good and safe mining practice.Reasonable diligence shall be assessed by DOE at its <br /> sole discretion on the basis of the Lessee's ongoing lease activities or the lack thereof.Site permitting activities and <br /> the performance of cultural resource surveys and threatened and endangered species surveys shall be reported to and <br /> accepted by DOE as evidence supporting reasonable diligence in a timely manner to facilitate federal reporting <br /> requirements.In addition,when requested by DOE,Lessee shall assist and support DOE in gathering and providing <br /> information in a timely manner to facilitate any NEPA requirements,requests,analysis,and/or conclusions.Such <br /> request will be in writing from DOE and will specify a timeframe for which Lessee shall reply. <br /> V. ROYALTIES.The Lessee shall pay or cause to be paid,as directed by the DOE,the royalties specified in <br /> Appendix B,which is attached hereto and incorporated herein,at the rates and in the manner set forth therein. <br /> VI. INTEREST ON OVERDUE PAYMENTS—FORFEITURE FOR NON-PAYMENT. <br /> (a) All amounts that become payable by the Lessee to the Government under this Lease shall bear <br /> simple interest from the date due until paid,unless paid within thirty(30)days of becoming due.The interest rate <br /> shall be established by DOE(on a quarterly basis as required)as the Federal Short-Term Rate(applied to and <br />