Laserfiche WebLink
. o, oo cv <br />~~ 5-27-1 995 4 1Y. Gi .+.. <br />: d7AM ~ ovo 1 D110 <br />FROM nrirnU J UGI1rGn Icl.n lrlR lef UUY <br /> P. 1 <br />?- i998 t2:5t PM F~PE7ER HnRRIS RuDY PC 97B a79 9~ P.a <br />successive Lease Year. Should GALL&GOS fail to mine and remove <br />750 toss of Minerals each Lease Year, this Agreement shall terminate <br />unless GALLEGOS makes such Additional Minimum Payments as <br />described below. <br />3.3.1 In the event GALLEGOS does not remove 750 tons of Minerals <br />from the Property during nay Lease Year, GALLEGOS may <br />elect to continue this Agreement is force during the term hereof <br />by the payment to Owner of such additional amounts <br />("Additional Minimum Payments") as calculated below. <br />Adduional Minimum Payments shall be ralculated.by taking the <br />difference of 750 tons less the tons actually removed by <br />GAI:LEGOS, and multiplying the Galante by the Base Rate. <br />Additional Minimum Paymeate, if arty, shall be considered <br />advance paymentsa for as equivalent amount of Minerals. <br />GALLEGOS shall be able to remove the Minerals purchased by <br />said Additional Minimum Payments is any subsequent pear this <br />Agreement ie is effect_ Additional Minimum Payments, if any, <br />are due within 60 days after the conclusion of the Lease Year. <br />Additional Minimum Payments shall be considered advance <br />paymeasa only for Minerals removed in excess of the naaual <br />minimum of 750 tons in subsequent years. <br />4 Operator's Reports to O.vner. <br />4.1 Operator agrees to prepare and maintain accurate data and records to <br />show, in detail, ehe amount of Materials mined and removed from the <br />Property. Each Load of lVIinerala removed from the Property shall be <br />Weighed at the commercial scales at the Carbondale gravel pit. Such <br />data sod records shall be open to inspection by Owner at all <br />reasonable times. <br />A.2 Each payment to Owners, shall be in suet detail and accompanied by <br />such data as maybe reasonably necessary to enable Owner to properly <br />verify the accuracy of the payments to Owner for the applicable period. <br />4.3 Ov.•ner shall have the right to examine and audit GALLEGOS' records <br />relating w the Minerals removed from the Property. <br />Gcll~oa-Canenr Lrmr and MrrrnaJ Pure/wx gdrernra~, flyTe J, J/!6/9d <br />