Laserfiche WebLink
:• , ~ ` <br />L . <br />act of Gad, insurrections, war strike, war, or prohibition by government <br />or any agency thereof unless such forte ma aura shall continue for <br />a period of two (2) years and 1n such event Lessor may at her option <br />elect to terminate this Lease. The same provision will apply to a <br />default regarding the payment of money except that the period to cure <br />the default w711 be thirty (30) days after receipt of written Notice <br />of Default. <br />i 12. Assignment. If the estate of any party hereto is assigned, <br />the covenants hereof shall extend to their heirs, executors, administrators, <br />successors, and assigns, but no change of ownership in the Land or <br />royalties shall be binding on the Lessee until after notice to the <br />Lessee and 1t has been furnished with a written transfer or assignment <br />or a certified copy thereof. Lessee shall assign this Lease only to <br />a financially responsible party and written notification to the Lessor <br />has been made. In such event Lessee shall be relieved of all obligations <br />with respect to the assigned portion or portions arising subsequent <br />to the date of assignment; however, in case of default by a Sub Lessee, <br />the Lessee retains the right to cure such default and Lessor will <br />notify Lessee by copy of any letter of default to Sub Lessee. <br />13. Notices. Notices required hereunder shall be deemed to be <br />delivered upon deposit in the U. S. Postal Service when sent by <br />certified mall, postage prepaid and properly addressed or when delivered <br />to the addresses setforth above. Any of the parties hereto may <br />designate a new address for delivery of notice by giving written notices <br />' as setforth above. <br />14. Exoloration. As further consideration for. this Lease, <br />Lessee shall conduct the following drilling program on the Land: <br />_ a) A minimum of five (5) rotary drill holes to a minimum depth <br />of 50 feet. <br />b) Three holes shall be in the SW/4NE/4 of Section 30 and two <br />holes shall be in the NE/45E/4 of Section 30. <br />c) Hone of the first five holes shall be spaced closer than 500 <br />feet. <br />• <br />I- -6- <br />