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<br />f 2 <br />LEASE N0. AT(OS-1)-ML-60.8-C-JD-B <br />MODIFICATION N0. A002 <br />years a minimum royalty of $3,000.00. At the beginnin of each <br />lease year thereafter, including lease years in the to m oP any <br />extension of this lease, there shall become due and pa able to the <br />Commission a minimum royalty of 57,000.00, provided, t at, upon a <br />written application by the Lessee showing to the satis action of the <br />Contracting Officer that the market for ores from the ands covered <br />by this lease will probably be inadequate to justify o erations <br />under the lease during the ensuing lease year, the Con racting <br />Officer in his sole discretion may, by written notice o the Lessee, <br />forgive the payment of the minimum royalty for such le se year, but <br />he may do so only if, as of the beginning of the lease year in <br />question, the total amount of all minimum royalties th retofore paid <br />by the Lessee hereunder exceeds by at least $23,000.00 the total <br />amount of all base royalties paid by the Lessee hereun er <br />durin¢ the previous three years. Such written applica Son shall be <br />submitted to the Contracting Officer not less than thi ty (30) <br />calendar days prior to the beginning of the lease year with respect <br />to which it is made. Minimum royalties paid pursuant o this <br />article shall be credited against base royalties and r yalty bid <br />payments which become payable during the term oP this ease or any <br />extension thereof. Minimum royalties so paid shall no be refunded <br />upon the surrender, cancellation, expiration, or other termination <br />oP this lease." <br />Third: Article II entitled "Term" is hereby revised to read a$ follows: <br />"II. TERM. This lease agreement shall remain in effec for <br />a period of ten (10) years from the date of its execut on, except as <br />it may be sooner relinquished or canceled pursuant to ther <br />provisions of this agreement. Howaver, this agreement may be <br />further extended Por additional periods not to exceed e~i (10) years <br />each, based on a determination for each extension by t e Contracting <br />Officer pursuant to 10 Code of Federal Regulations IC. .R.) Part <br />760.1 (u) that such extension is in the best interest f the <br />Government. No extension shall be granted if the Cont acting <br />Officer determines that the Lessee is in default of on or more of <br />the terms and conditions of the lease or that the leas should be <br />re-issued through competitive bidding pursuant to 10 C.F.R. Part <br />780.1(d)." <br />form.lea/gg <br />