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SENT BY:FSP&T; LLC, 92 :11-21- 1 ;1Ot21AM FSP&T, LLC, 42-' X03 721 9298;ar15/22
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<br />and further subjeia to the tctinq, conditions aild agre~netus set our in [his lease. 1'hc above-mentioned ri@17ts
<br />may be exercised in cowection with mhdng on other or udjncent lands only when mining un sutlt }ands is
<br />carried on is wnjuuctiun with the actual muting air die {and here}n leased.
<br />~RES]'sRYING, lwwever, to tSte Suite of Colarndo:
<br />A: All rik}iU and privilegcauCevecy kind and namm, except as are heroin specifically granted.
<br />B. T'hc right to use ur lease said premises or any put lhemuf at any time for any propose, indudirrg
<br />the right m explore and prospect said pretttises, which use and leaahtg of said premises shall he
<br />for purposes other than artd not incnnaiatent wiUt the rights and privileges herein specifically
<br />granted but that such use shall be aubjcca ro Ute rights of Lcsscc.
<br />C. ~ Tlu right to dispoae of or ]ease the surface whew lessor is t}7c surfau owner, but such dispos<~1
<br />and any such tease x}tall be subject to the righh of the I:exsee.
<br />D. 'Piro right at a]] t}tnea During die life of tl7}9 tease m go uDOU said pretulScs artd every put d7erooC
<br />for the purpose of inspectig4 said premises, a»d [he hooka of nccnwtGS nad records of mineral
<br />Workings therein, artd of escerraining whether of not said Lessee and those holding therem>derby
<br />atul froth It, arc uettying vut the Gams, covenants and agreements in tltis lease cemtaitu-d.
<br />E. The rigid at any' Utne W great a right-ot-way upon, over or across all or any prtri of said pictniscs
<br />. for any ditch, reservoir, rrtilmad, cnnunnnicarion system, etecuie poworliue, or pipeline,
<br />schoolhouse o[ other Lawful purpose; bur that such grants shall lie subject w die rights of Lessee.
<br />' 1'O LiAVi/ ANI) "fO kiOLD The abovejiesctibed pi•ettilaea u0to Lessee, its heirs, successors, assigns,
<br />oz legal representatives lpr the tezm'of er[ 1 years, and until'Itvelve O'clock noon on [he 2~,£( day of j1$„ny.
<br />~, anA, except as hetetnafter stared,~as.luug thereatrcr as minerals are lxhtg produced in~ paying quatuities
<br />Cmtn s'nid premises, artd dtc ioyalt:es and rentals pruviAed for heteh[ arc beuig paid, ur by any cxmnsiort hcrmf,
<br />subject to the following ltrrns, conditions rind agreements, to-wit
<br />ADVANr~'i MINiA~~M ROYALTY -- As minimum atxl advance royalty, without relatiuss to the
<br />an7ount of mineralsminetl front die leased premises„Lessee slt.~41 pay vumally in advwcc to Lessor the
<br />fottowittsamoultts•, ~ ~ .
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<br />I-.EASf± YrsAR ~R_
<br />199G~thty 1998 '_ on
<br />1791 and each veisr jheteafter ~~
<br />that the loose is lu fLll force and ctfmt 0200 000
<br />Acreage changes rosullittg from surreucler or partial assignment will not reduce the advance
<br />mburoum royalty prnpo[tiuuately. J'utUtcrt, at the cud oC each five-yens period; Lessor rosy iucrcavc du:
<br />rate or arnoun[ of advance minimum~royahy ro be paid by lxneec by a rite not [u exceed the rate of
<br />increase of the average Vrvducer'a Price index for Cement for d7e previous }lye year period, ns
<br />publiehed'hy the U.S. Dcpadmsnt of [abut, Bureau of Labw' Statistics. "I'he f}rst such five year period
<br />will tefminate on May 21, 2(IOI.Tn the event Lessee does not exltact minerals Ifom We Jcsscd promis~+
<br />sufficient [u return to the State die Minimum amounts above xpuctficel, it i.v nevcrthcless understood tltiU
<br />the above sums of n)oney are due and.payab(c to Lessor whofnnr nt not minctats are mined, but that
<br />such advance, miaintuui royalty shall-be credited upon the Grnt royalties due as hurein provided fur
<br />minerals auually produced from said premises or aq pcovidcd foe in paragraph 5 hetnw, and can be wmd
<br />in any year for which drere are prodttctiou royNdes ru be offset- Itt (:aqu of assignment of [his }ease, alL
<br />advance [tdnlmum royalty paid [o the i.essorsball be earriti! forward and creditod fo the rnw assignee.
<br />2. FORPGITUItfi OR ADVANCB MWIMUM ROYAi.'~', - In the abaettce of ptoductiov of mJrwrnls in
<br />mulvwous puying quantities before d7c expiration or earlier ferminxtion of the lease, all advwtce
<br />miuhuum rnynltica and alt rentals dur wul payable on nr before the date of expiration nr terudnatlon
<br />shall be fotfcitttl. -
<br />3. PItODUCTION ROYAL'17 -- Lesseeshall pay nt Lessor a produaiaa royalty al thirty-fire seats
<br />(.~,~) per lea for all products apucified in this lease whidr nre mined, savM, sold and/ur,turnovucl From
<br />the leased p[amiaos.
<br />Royalty shall be due and payable Od or before U7e last day of each wlenda[• mnnUt during the term
<br />oC this leave fur urns, minerals and other matezials mined anJ rcntuved far sale by Lcsaoc dw~ing the
<br />preceding calendar momh.
<br />-- Repotthtg of pcothtetioa royal<y drat is r.tat}led agaitud advanced minimum royalty is also due nn
<br />~~r l+cfure the last day of each cak~ar tuotnh for u[itwtg QurittE, Qx pr>:4:a1utg cxlaular muudi.
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