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Determination by the Authorized Officer of the quantity of mater(als taken is binding on Purchaser subject to appeal only as provided in Sec. t4. All materials in the conlracl area in excess of the estimated quantity fisted above are reserved by Government. Sec. 3. Payments. aassaae of title, and risk of loss. Title to materials sold hereunder passes to Purchaser immediately before excavation and upon proper payment for such materials. No part of the materla{ sold hereunder may be severed, extracted, or removed by Purchaser until payment for such materials has been made in accordance with the Following: a Unless materials sold under this contract are paid for in full in advance, payment for materials must be made In installments of not less Than N1A each The first installment must be paid upon approval of this contract. b. Each additional installment is due and payable as billed by the Authorized Officer in advance of removal of the remaining material The first installment will be retained as additional security for the full and faithful performance of this contract by Purchaser, and will be applied in whole or in part to the payment of the last installment required hereunder to make the total payment equal the total price set forth in Sec 2, above The total purchase price must equal the sum of the total quantities severed, extracted, or designated Therefore, multiplied by their respective unit prices The balance due where less than a full installment remains to be paid upon the total price will be the value of material remaining to be severed or extracted.. Each installment will be held in suspense until the quantity of material covered thereby has been determined. The fatal purchase price must be paid at least 60 days before the expiration date of the contract Upon termination, if the total payments made under the contract exceed the total value of the actual materials removed, the excess wilt be returned to Purchaser, except as noted In 36 CPR 22B 66 c. Risk of loss shall be borne by (he party holding title to the mineral materla) al the time of loss except that nothing herein shall be construed to relieve either party from liability for breach of contract or any wrongful or negligent act. Sac. 4. Slioulations and reserved items The rights of Purchaser are subject to the regulations in 36 CFR 228, Subpart C, which are made a part of this conlracl, and to the stipulations, if any, which are attached hereto and made a part hereof as Exhibit A. Sec. 5. Bonds. a. Purchaser must fife with the Authorized Officer and must maintain at all times the bond required under the regulations to be furnished as a condition to the award of this contract in the amounts established by the Authorized Officer and to furnish additional bonds or security as the Authorized Officer may require. b If all farms of this contrac! are not faithfully and fully performed by Purchaser, the bond in the sum of $ NA1 filed at the time of the signing of this contract will be forfeited to the amount of damages determined by the Authorized Officer. If damages exceed the amount of the bond, Purchaser hereby acknowledges liability for such excess. Upon satisfactory performance of this contract, the bonds will be canceled, or if cash or United States securities were furnished in Ifeu of a security bond, such cash or securities will be returned to Purchaser c. Whenever any bond furnished under this contract is found unsatisfactory by the Authorized Officer, the Authorized Officer may require a new bond which is satisfactory. Sec. 6. Exolratlon of contract and extensions of lime. This contract will expire on 12!3112016 unless an extension of time Is granted in accordance with the provisions of 3G CFR 228.53(b). Written application for an extension of time maybe made by Purchaser between 30 and 9D days before the expiration date of the conlracl. Sec. 7. Duties of Purchaser. purchaser must take fire precaution and conservation measures and must dispose of