Laserfiche WebLink
SENT BY:FSP&T, LLC,.(12 ;11-21- 1 :10:2191N ;, FSP&T, LLC, Q2~ 3U3 721 9298;#16/22 <br />Whtin sixty days prior to Uic termination of each and every five-year period for sn long xs this <br />lease remai»s in effect, 1"essur may increaseYhe rate or amour of production royalty to be paid by <br />. ~ ~ lessee by a rare not m exceed the ratz of increase of Ou: average Roducer's Ptiec Index, fnr Cemebt fox ~ .. <br />rite previous five year period, as publishtxl by the U.S. Deliantnent o1' f.xbor, Bureau of Lahnr SMUistics <br />at dre cud of each fivu year period ot'the kaae. Tlx Fist such flue year period will Serminate on May <br />,. 21, 2001. Failure tv comply wide any new royalty care set by Lessor mxy subj[xt dtis lease m <br />canccllatiun by thirty-day writreut natter by Lcssur. <br />4. PJtTENSTON - C,essee may have a preferential riglitto renew the !case or[o reeeivev new lease, if rot <br />in ,production or otherwise deemed to bo extenAed by p[aluction as herein defined,. na may . be <br />determined by Lessor tn~be in the beat interest M• the Stsic, under one or more oT ihC fuQowing <br />conditions: <br />A. An ~advancc minitrmn royalty, we amutmfto he negotiated before cspita[ion of the (ease, Will <br />he due and payable Mnually tnnttnencitil; on dw date this lease is rcnnwad or a new lease iv <br />executed and shall continue unit] the expimrimt of We new or ruawed lease. "117is nrnuUnt may <br />ue: adjusted by L.eaSOt at [Iw end of each fvc-year period of the renewal or new least.. <br />11, Lcsace sha41 funtish m l.esxar ~satisfxctery evidence of plans fur mining during thu term of the <br />renewed lease or during [hc rcrm of a new feaxe, <br />L. lessee shall furnish adequate geolugiual evidence to. Lussnr that the acreage aubjoct to the <br />renewed ur new lease ix in fact an integral port of arld contains reserves in a luglr:al uduing unit. <br />Whether the acreage ix uris no[ a pair of a iog~cal mixing tn»t wit l he detenniged by L[.wsnr. <br />D. At the end of rho pritnaty lease teen ur at any time during this primary !care term when a <br />permit is iasucd by the Mtitetf Land Rec)atttation Hoard fur a mining operation nn a xpecific <br />pasul of there described ]ands, Lessee wU1 t+c required to apply N thn Board for one or roorc <br />- htdividual mineral Ieasea of not mole [Ilan Yv10 acres if state rninerala rights are stand atone or <br />not mote than 1,2gU u:res if state mineral rlghtc have a cornman baundary•. Type of ]care will <br />be detennlnedhy the Board a[ dta[ firnc based on the RoarA'a mineral tlaxsifica[imt syxtem, <br />i • <br />5, HXTE~ISIDN BY PkA1JUCTIOI~ _ This !case may not be held in per(/etuily; liowasier; the (ease will <br />uutLLinuc in effect fof sn long as minerals ;nc produced 10 paying yuautities. 1?XOCpt as may 6e <br />xtasiuntd by an corn[ of fo[vu majeure, cessation of pmduuiaB fora period in cxeca6 of 18U <br />cupsneurive days (270 days under the ciccumsraricesdeswilied in tfie last sentence of this paragraph) will <br />automaticellymmove lease tiom producing ara[us unless orherwisc agreed to in writing by C•essor except <br />as praluctivn may ceue far one continuous period of three (3) yenta during the life of this luasu xu long <br />as a payment in the: amount of $75,U00 as advance royalty (itt addition to tltat specil'ted in Paragraph I <br />above) paid at rite Yarn of fi25,000 per year at the end of each year for which no pmdnetipn vecin•red: <br />Lcssec shall notify L.cnsm• of each ccasatinn of production, the reasons Hurefnr, anA ~rhe time pc~•iad' <br />,doting which p[oduetinn will or did ecrae. A usmtinn of production may be continued fnr :an additional <br />9U days beyond the 1 BU days allowed about if prod}ictiau royalties are paid as described in Section 3 nn <br />any Iltnestnne tnamrials taken from off !case that ate processed in any of l..esse2s. facilities nn the <br />Iuscd Frremisea doting the 9(1 clay extension. - <br />Pavin~itatililius means pnduedon xttfGuicm to romrn myaltiess to Iesaur of rxn less tba,i <br />(one-Hundred thotrannd and nuJ~4 Dolkirs ($ 1tIf1.UW 00) per year.. ' <br />F4SCe tvljcure means any cause hayaM Lesseo'a reasonable control, including law or. <br />regulation; anion or inaction of civil ur military authority; inability to otttein arty license, <br />permltt or outer authotizstionthat may be required to cnminta upr~ations au,or in connection <br />' • .with the lands herein leneeQ unusually aevac weather; ntbtiag casualty; unavoidable mill or <br />phgnl shutdown; damage to or destiuctimt of mhle. plant nr fariliry; fue; ~xploaimt; flood; <br />lnaturedlne; riot; labor dispute; iuabiliry'after Ailigent effort to obtain workmen or tnatcria); <br />delay in uartsportatiou; or acts of Clod. Ibrcc Mxjeure shat! nut relieve Lessee bf any obligation <br />' ~ m pay rail or adoaoce minimum royalty to f.eaaor. ~ ' <br />d. RFIPORI'S AND RT3CORD5 - Aker «perationstregin; it is agreed that on or before the: test day of each <br />rnonih during rite hmi of ihia.leaac I,eesee eball m+hrnit a sweat, vcciftcd, wrinen report m fesSUr, in <br />which report eball be entered end set down the rr,u amount itt wtight of all pnduets aeA the assay <br />Orermf mined and removed from said !cased premises during cite pfeateding calendar tuurdh. Lessee <br />agroes W keep and to have in possession complete and eccura[o hogks aod~records showing the <br />production and disprtsitiari of any and all sitbetamcn prrduced on [be )cased la[ui and to;permit Tesanr at <br />all reaeonablc unurs, W axaminc cue same ur to furtdsls copies of same W Lcxaor. within 60 days <br />fntlnwing wrilicn request, aloag'aith dtttrcltascr'a sulgrort Ud;utnetutrtinu. all cold boo{ui aM recoctls . <br />shall be retained by Lessee and made available in CnloraAn rn Lessor far a period of nm less !ban 10 <br />Page 3 of 7 <br />