_PERMIT FILE - M1997053 ‎(29)‎

• Permit No: M1997053
• IBM Index Class Name: Permit File
• Section_Exhibit Name: EXHIBIT N SOURCE OF LEGAL RIGHT-TO-ENTER
• Media Type: D
• Archive: No

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of Paragraph 7, below, shall make payments to District of any royalty due by the 20th day
of each calendar month.
' E. At all times from the Commencement Date until termination of this Lease,
GJP shall maintain one or more truck scales on the Property which will be certified as
accurate as and when required by applicable governmental authorities. All Common
' Materials removed from the Property shall be weighed on the scales. Lessee shall keep
accurate and complete records of the same, which shall be available to the District or
inspection (and copying at the District's expense) during regular business hours.
F. All payments required under this Lease shall be made in good funds, which
shall be paid to District at its address stated in the introductory paragraph of this Lease unless
tGJP is otherwise directed by written notice from District.
G. If GJP fails to make any payment of royalties within fifteen (15) days after
the same is due, GJP shall pay on demand to District interest on the unpaid amount from its
due date until paid at the lesser of eighteen percent (18%) per annum or the maximum rate
' allowed by law. Imposition on payment of late charges will not waive or excuse any default
by GJP based upon failure to pay royalties when due.
' 7. GJP shall pay advance minimum royalties to District as follows:
A. GJP shall pay to District advance minimum royalties of$10,000.00 per year
' for the first ten years of the lease term (each one year period of the lease term beginning on
the Commencement Date is referred to as a"Lease Year'). The first advance royalty pay-
ment shall be due and payable within thirty days after the Commencement Date. Additional
advance royalty payments shall be due and payable on or before the same month and day of
each of the succeeding nine Lease Years, subject to the provisions of Paragraph 7.C., below.
' After all such advance royalties have been paid for ten years, the parties agree to negotiate
in good faith regarding advance royalties to be paid during the remainder of the lease term,
and the amounts of such advance royalties and the terms and conditions relating to their
' payment. If the parties are unable to agree relating to such additional advance royalties, then
annual advance minimum royalties of $10,000 per year will continue to be paid for the
remaining five years of the Term on the same conditions stated above.
' B. The advance royalties payable hereunder shall be offset against royalties
which shall accrue and be payable to District for Common Materials under this Lease. If the
' advance royalty paid for a Lease Year exceeds the amount of royalties accruing in that Lease
Year, the excess shall not be used to reduce the amount of any advance minimum royalties
payable in future Lease Years, but this excess shall be carried forward to offset royalties
actually due in any future Lease Years during the Term of this Lease. If the amount of
royalties accruing in a Lease Year exceeds the advance minimum royalty paid for that Lease
Year, the amount of the excess shall be used to reduce the amount of advance minimum
' f:\wp\I698\040\dots\GRAVLES.<CWD -5- September 20. 1996
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