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<br />operations contemplated under the Lease and a,ee to cooperate with the Company in obtaining such <br />approvals and to execute or join in applications, plats and other documents which aze required to <br />obtain the same. <br />This Option shall be exercised by the Company's depositing in the United States certified <br />mail, return receipt requested, notice of such exercise addressed to the Grantors at the address set <br />forth in Pazagraph 1. The Lease shall immediately become effective as of the date that Grantors <br />receive notice that the Option is exercised and, to evidence its being effective, the parties shall <br />execute the Lease, and if requested by the Company, a notice or memorandum thereof in proper form <br />for recording. <br />4. Grantors shall provide to the Company evidence that they own the surface estate and <br />the Materials for the Property including, without limitation, Grantors' title policy and exception <br />documents, any existing abstracts, the deed(s) by which Grantors acquired the Property and any <br />instruments affecting the Property executed by or in the possession of Grantors. <br />If the Grantors do not own good and mazketable title to the Property or Materials, the <br />Grantors shall retum the S_option money to the Company. <br />5. Exercise of this Option shall constitute the Company's acknowledgment that, to the <br />best of the Company's knowledge, Grantors has good and mazketable title to the surface estate and <br />the Materials for the Property. <br />6. Grantors hereby grant to the Company the right through the Company's officers, <br />employees, agents and contractors during the term of this Option to enter upon the Property, and to <br />core, auger, drill, trench and otherwise test and sample for Materials, including stone, sand and <br />gravel, soil and earth, in, on and under the Property and of free ingress and egress to and from the <br />Property (through defined entry as per Exhibit B) for such purposes and to bring thereon and remove <br />their tools, machinery and equipment, and to take and remove such samples. The results of the <br />Company's testing, sampling and operations shall be and remain the Company's confidential <br />information and its sole and exclusive property; provided however, the Company shall provide <br />Grantors with copies of all such results, data, reports, studies and information and otherwise share <br />such information with Grantors within two weeks from the eazlier date that either this Option is <br />exercised or it terminates, and Grantors shall keep the same confidential while this Option and the <br />Lease aze in effect. The Company shall pay Grantors the reasonable value of any crops then growing <br />on the Property which are destroyed by operations pursuant to this Pazagraph. <br />7. During the term of the Option, the Company shall have the right to obtain an ALTA <br />survey of the Property ("Survey"). Any matter disclosed by the Survey as affecting the Property <br />shall be treated as a title defect in the same manner as matters disclosed by the title commitment. <br />Any such Survey shall be at the Company's sole cost. <br />8. If this Option terminates without exercise by the Company, the Company shall retum <br />the Property to the condition in which it was found by the Company at the commencement of <br />operations. The Company shall pay Grantors reasonable amounts for any and all damages to crops, <br />RECEIVED <br />-2- <br />MAR 3 0 2000 <br />..., ~ ,:~ ~.~,,.~,~~s „ ~aclo~Y <br />