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<br />(a) If you pay in installments, you must pay the lust installment before BLM approves the contract. <br />(b) Once you start removing material, you must pay each subsequent installment payment monthly in an amount equal to the <br />value of materials removed in the previous month. Payment must be made by the I5'" day following the end o(thc month for <br />which you are reporting. 1'ou must pay the total purchase price not later than GO days before [he contract expires. <br />(c) The United States will retain the lust installment as security for your full and faithful performance and will apply it to the <br />last installment required to make the total payment equal to the total price gn~en in section 2. <br />The total purchase price equals the sum of the total quantities removed, mulnphed by their respective unit prices. <br />If you are late making an installment payment you must not remove any more material until you have paid. <br />Removing material you have not paid for is trespass, and for trespass you must pay at triple the appraised unit price, or at triple <br />the reappraised um[ price if BLM has made a reappraisal. To resume removal operations aRer you were late staking payments, <br />you must obtain BLM's written approval. <br />(d) You receive title to the mineral materals only alter you have pmd (or them and extracted them. <br />Sec. 4. Risk of/oss. You assume complete risk of loss for all nta[erials to which you have title. I(ntaterial covered by this <br />contract is damaged or destroyed before title passes, you are liable for all loss suffered if you or your agents are directly or <br />indirectly responsible for the damages. If you are not responsible for the damage or destruction, you are liable only to the extent <br />that the loss was caused by your failure to remove the material under the terms of this contract. You arc still liable for breach of <br />contract or any wrongful or negligent act. <br />Sec. 5. Liabi/ip~jor dnmage to nmleria/sun! so/d !o you You are liable (or loss or damage to materials not sold to you if you <br />or your agents are directly or indirectly responsible for the damage or loss. You are also liable if you fail to perform under the <br />contract according to BLM's instructions and the United States incurs costs resulting Gom your breach of any contract term or <br />your failure to use proper conservation practices. I(the damage resulted from willful or gross negligence, you arc liable (or <br />triple the appraised value of the damaged nr destroyed materials. If the damage or destruction did not result from wit flat or gross <br />negligence, you are liable (or lesser charges, but not Icss than the appraised value of the materials. <br />Sec. 6..Stipu/ntio+rs and reserved lernrs. Your rights are subject to the regulations at 43 CFR Group 3600 and to any stipulations <br />and the mining plan attached to this contract. <br />~ d~ BLM will check this box if there are stipulations attached to this contract. <br />See Exhibit A -Special Stipulations. <br />Sec. 7. Nnticc ojoperations. You must nmify BLM immediately when you begin and end operations under this contract. 1( <br />BLM has specified a time frame (or notification, you must comply with that time frame. <br />Sec. 8. Bnnds. (a) 1'ou must furnish BLM wnh a bond m the amount of $ 30,577.00 as a condition of issuing this contract. <br />(b) I(you do not perform all terms of the contract, BLM will deduct an amount equal to the damages from the (ace amount of <br />the bond. If the damages exceed the amount of the bond, you arc liable for the excess. BLM will cancel the bond or return the <br />cash or U.S. bonds you supplied when you have completed performance under this contract. <br />(c) BLM will require a new bond when it finds any bond you fitrnish under this contract to be unsatisfactory. <br />Sec. 9. Assrgnrnenrs You may not assign this contract without BLM's written approval. <br />Sec. 10. Modification o(the Approved Mining or Reclamation Plan. 1'ou or 6LM may initiate modification of these plans to <br />adjust for changed conditions, or to correct any oversight The conditions for BLM requiring you to modify these plans, or <br />approving your request for modification are found in the regulations at 43 CFR 3601.44. <br />Sec. 11. Erpirntian o/'rontraet. This contract will expue on Derember 31, 2003, unless BLM extends the temt or renews the <br />BLM MANUAL Rel. Date. <br />