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MARATHON further agrees to pay to CENTENNIAL $OOK 520 ",rF 17 <br /> overriding royalty of two percent (2%) of all of the gold and <br /> other metals and minerals which are recovered from the ore , to <br /> be delivered to CENTENNIAL free of charge in the form inrwhich <br /> . they are delivered or sold to industrial users . Royalty <br /> payments shall be made quarterly on the fifteenth (15th) day of <br /> January, April, July and October respectively in each year <br /> during the primary term of this Sub Lease and all extensions <br /> thereof. Payment shall be made to: <br /> CENTENNIAL GOLD CORPORATION <br /> 485 Washington Street , Suite #1 <br /> Craig, Colorado 81625 <br /> or such other entity at such other address as CENTENNIAL shall <br /> designate. <br /> This Sub Lease shall be considered a Lease as to <br /> CENTENNIAL's undivided 50% ownership interest in and to the <br /> Subject Claims , with CENTENNIAL as the Lessor and MARATHON as <br /> the Lessee. The terms of this Lease shall be the same as those <br /> of the Master Lease, except that there shall be no rental or <br /> royalty payments due to CENTENNIAL other than the 2% overriding <br /> royalty described above in this Sub Lease . <br /> USE OF ADJUDICATED WATER <br /> CENTENNIAL hereby grants to MARATHON the exclusive use <br /> and possession while this Sub Lease is in effect of fifty <br /> percent (50%) of the following adjudicated surface water rights : <br /> Case No . W-881-75 Pond No . 1 3 . 96 acre feet <br /> Case No. W-882-75 Pond No. 2 3 .82 acre feet <br /> -3- <br />