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Ancillary ODtlm Agreement are incorporated in this Agreement by reference and are • further made subject to all terms and conditions of this Agreement as the same may apply. (9) Renewal Terms, Grantee shall have the right to renew and extend its Option by ten (10) successive annual Option terms of one year each in duration (here- inaf ter, "Renewal Terms"). Grantee shall notify Grantor at least 30 days prior to the ... conclusion of either the Initial Term or any Renewal Term of its intention To renew ~.. the Option for m addit tonal term. As consideration for each Renewal Term, Grantee ~ ~~ . shall pay Grantor a sum equal to the Renewal Option Payment, as is more particularly set forth in said Arcillary Option Agreement. Grantee shall furnish Grantor with a check in payment of the Renewal Option Payment not later than 30 days after the commencement of such Renewal Term. 3. Payments as Advance Royalty. In the event Grantor exercises its option during either the Initial Term or any Renewal Term, the Initial Option Payment and all Renewal Option Payments paid~by Grantee shall be considered as advance royalty under the Lease Agreement between the parties and may be credited against any tonnage royalty required by the parties' Lease Agreement. 4. Exploration Rights. During the Initial Term and any Renewal Term of this . Option, Grantee, by and through its agents, employees, and representatives, shall have the full and free right to do all things necessary and convenient on the Properly in order to drill, take core samples, survey, map, and otherwise evaluate the coal re- source, and To perform environmental research and cultural resource studies, all without liability, except for the destruction of or damage to livestock, fences, corrals, buildings, and farm machinery and equipment. In conjunction with such premining exploration and environmental activities, Grantee agrees rat to use water from Grantor's livestock water sources without Grantor's consent but such consent shall not be unreasonably withheld and only as is necessary to assure adequate water for Grantor's livestock. Grantee agrees to allow Grantor to examine all exploration data; provided, however, that such data shall not be disclosed to third parties during the term of this Agreement or any subsequent Lease Agreement without the written consent of Grantee. S. Exercise of Option. In the event Grantee shall elect to exercise its Option hereunder to lease the property, Grantee Shall notify Grantor in writing of such elec- tion, Such ratite shall be sufficient if in writing and mailyd to I....,e~ ~-....~,i~. Papwlas Land Company, P.O. Box 397, 669 Breeze Street, Craig, Colorado 81625, by . registered or certified mail an or before the ezpira Lion of the Initial Term or any _2_