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" ~JII <br />i <br />prior written notice of its intention to do so at tt~e end of <br />any year during anq period of this lease in case it has <br />. exhausted the useable or commercial clay on said premises. <br />2. Lessee shall have the right to enter upon said <br />property and to open, operate, excavate and remove e:lay and <br />shale deposits suitable for the manufacture of briclc and <br />porcelain products. <br />3. As rental for said property, Lessee shall pay <br />' Lessor the sum of $1,000 per lease year, (the receipt of the <br />;. $1,000 for the year ending January 1, 1967, is hereby ac- <br />k~owledged,) and in additi~:: the royalty of 30 cents per ton <br />of clay or shale products removed from said property. Lessee <br />shall receive credit against said royalty of 30 cents per <br />" ton for the $1,000 cash rental paid in advance, thus may <br />remove, in any year, 3,333 tons of clay or shale without <br />additional payment, but thereafter shall pay the said <br />royalty rate of 30 cents per ton for the clay removed in <br />that year. Any excess in rental which has not been off-set <br />by the 30 cents per ton royalty shall not be carried over <br />or cumulated for subsequent years. <br />". The royalty herein provided for shall be paid ~ - <br />• Lessor by Lessee on or before the 10th day of each month <br />for the clay or shale removed during the preceding month.. <br />'In addition to the rents and royalties herein prov:Cded for, <br />Lessee shall pay for any and all taxes lawfully assessed <br />against its machinery, tools, equipment and supplies and all .. <br />~. <br />clay or shale products severed but stockpiled upon said <br /> <br />- 2 - <br /> <br />lOb i. <br /> <br />