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- 3- <br />V. <br />It is understood and agreed that in the event the Lessee should <br />default in any payment provided for herein and remain in such default <br />for a period of thirty (30) days after being notified in writing of <br />such default by Lessor, then, in that event, at the option of the <br />Lea-eflr, t#is Lease shall cease and terminate nnd_be_o~' n9 further effect. <br />VI. <br />It is mutually understood and agreed that the rights, duties <br />and obligations created hereby shall extend to and be binding upon <br />• the parties, their heirs, executorst administrators and assigns, and <br />that the singular herein shall include the plural. <br />VII. <br />Lessor agrees that Lessee may sublease or assign any or all <br />of the leased premises, provided the Lessee does not lessen its ob- <br />Zigations hereunder. <br />VIII. <br />Lessor does hereby warrant the title to said surface owned <br />and leased by Lessor, and this Lease shall be free and clear of all <br />encumbrances except those of public record and those for which waiver <br />and consent hereto is obtained and Lessee may in all cases apply <br />royalty payments to the satisfaction of such encumbrances as may be <br />found to exist. If the Lessor owns a smaller interest in the above <br />• described surface than the entire undivided fee simple estate therein, <br />then the royalties herein provided shall be paid to the Lessor only <br />in the proportion which its interests bears to the whole undivided <br />fee. <br />IX. <br />Lessor, or its designated agents, shaZ2 have the right at all <br />times to remove its timber from these premises and the Lessee shall <br />notify them within fifteen (15) days of any intent to move onto nn <br />area where said timbers are to be removed. <br />• <br />20 <br />