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_i <br />.. I ~ ~ ~~~~ AFC <br />SAND, GRAVEL AND AGGREGATE MINING LEASE F ~®~F <br />(ORIUHnII, LLC/lioode) Fe?~~ O <br />~J <br />May 22, 1998 °o~t+~, <br />This Mining Lease is made thisday of May, 1998 by and between Orc/Hall, LLC <br />("Tenant") and BLC Development, LLC ("Landlord"). <br />Background of Agreement. The following background statements are made to aid in the <br />understanding and interpretation of this Mining Lease: <br />A. Landlord owns the property described on Exhibit A (hereafter known as the "Property" and <br />sometimes referred to as the "Sand, Gravel and Aggregate Mine"). <br />B. Tenant is willing to pay the costs associated with permitting the Property as a Sand, Gravel <br />and Aggregate Mine. <br />NOW THEREFORE, in consideration of the mutual promises and covenants contained <br />herein, Landlord hereby leases to Tenant those portions of its Sand, Gravel, and Aggregate Mine <br />located on the Property. <br />Incorporation of Recitals by Reference. All of the recitals are incorporated herein by this <br />reference and made a part of the agreement of the parties. <br />2. <br />4. <br />Minerals to be Mined. Tenant shall have the right, but not the obligation, to remove sand, <br />gravel and aggregate from the Property. <br />Term. This Lease is effective as of the date of execution and shall expire when all minerals <br />are fully mined. <br />Storage. Tenant may store sand, gravel and aggregate on the Property during the term of <br />this Lease and may operate a batch plant on the Property. <br />Royalty. Tenant shall pay the Landlord, as royalty, nd, gravel <br />and aggregate sold from the Property and payment ; nd, gravel <br />and aggregate is sold to customers of Tenant. Thy 'after the <br />sand, gravel and aggregate is loaded in Tenant's truck Want shall <br />have the right to mine all other materials and mine ;, but not <br />limited to, gold and other precious metals, and T~ Trials and <br />minerals without payment or proration. <br />Tenant shall pay the amount of royalty in arrears at the end of each month that this Lease is <br />in effect. Tenant shall forward to Landlord monthly reports showing the quantity of sand, <br />gravel and aggregate sold during the preceding month according to load tickets with dates <br />of loading. The reports shall be forwarded to Landlord by the IOth day of the month <br />~~ ~~ ?~ <br />