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<br />2 <br />B. The right at all times during the life of this lease to go <br />upon said premises and every part thereof, for the purpose of <br />inspecting same, and the boo}:s of account and records of <br />workings therein, and of ascertaining cahether or not Lessee <br />and those holding thereunder by and from it, are carrying out <br />the terms, covenants and agreements in this lease contained. <br />C. The right to grant rights-of-way over said premises for <br />pipelines, roads, railroads, pocaer, telegraph, telephone, <br />ditches, and canal lines. or any other lawful purpose, or <br />lease the above-described lands for any other purpose than the <br />one specified therein, which such grants or leases shall be so <br />made as not to interfere with the operation of this lease, and <br />so as to require the grantees of such rights to assume all <br />risk resulting therefrom. <br />D. All rights and privileges of every kind and nature not herein <br />expressly granted. <br />TO HAVE AND TO HOLD The above-described premises, with the <br />appurtenances, unto Lessee and the heirs, assigns, successors or legal <br />representatives of Lessee, from 12:00 Noon on the 6th day of May , <br />1992, for the term of ten ( 10 ) years, until 12:00 Noon on the 6th <br />day of Mav 2002 Any extension shall be negotiated within sixty <br />(60) days prior to the termination date herein. Lessor reserves the <br />right not to renew this lease. <br />1. ROYALTY -- Lessor reserves as royalty, and Lessee agrees to pay to <br />Lessor on or before the last day of each calendar month following <br />the month of production, $ .25 per ton of 2000#, or $ NA per <br />cubic yard, or NA % of the gross sale price at the first point of <br />sale, whichever is greater. <br />Within sixty days prior to the termination of the first year <br />and each and every five-year period for so long as this lease <br />remains in effect, L25SOr ^.ay rpapLrai,2 t!:e proper t'y her2li. '_ea~ed <br />and fix and determine the rate of production royalty to be paid <br />during each year of the succeeding five-year period. Failure to <br />comply with any new royalty rate set by Lessor may subject this <br />lease to cancellation by thirty-day written notice by Lessor. <br />2. ADVANCE MINIMUM ROYALTY -- As minimum and advance royalty, without <br />relation to the amount of material mined from the leased premises, <br />Lessee shall pay annually in advance to Lessor the following <br />amounts: <br />LEASE YEAR ADVANCE MINIMUM ROYALTY LEASE YEAR ADVANCE MINIMUM ROYALTY <br />1st None 6th S10/ ac/ vr <br />2nd S1o/ac/yr 7th S10/ ac/ yr <br />3rd S10/ac/vr 8th 510/ ac/ vr <br />4th S1o/ac/yr 9th S10/ ac/ Yr <br />5th S10/ac/Vr '_Oth $10 /ac/ Yr <br />