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demonstrated to Lessor's reasonable satisfaction such person or entity's general business <br />reputation and that such person or entity possesses knowledge, experience and competence in the <br />business of sand and gravel mining. Any assignment or sublease of this Lease to anon-affiliated <br />third party must apply as to the entire leasehold interest of Lessee. No partial mortgage, <br />assignment or sublease or mortgage, assignment or sublease of undivided interests or retention or <br />reservation of overriding royalties will be recognized by Lessor; and the effect, if any, of any <br />such transactions will be strictly and only as between the parties thereto, and outside the terms of <br />this Lease, and no dispute between parties to any such transactions shall operate to relieve Lessee <br />from performance of any terms or conditions hereof or to postpone the time therefor. A partial <br />mortgage, assignment or sublease shall not deprive Lessor of any of its benefits under this Lease. <br />Furthermore, Lessee shall permit no mortgage, assignment, or sublease on the Property leased <br />hereunder unless said mortgagee, assignee or sublessee has executed an agreement, reasonably <br />satisfactory to Lessor in form and substance, to the effect that the mortgagee, assignee, or <br />sublessee, as the case maybe, agrees that it is responsible for performance of Lessee's <br />obligations under this Lease (or, as to a mortgagee only, that the mortgagee's interests in the <br />Lease are fully subordinate to the rights of Lessor). Furthermore, no mortgage, assignment or <br />sublease shall be effective upon the Lessor until the mortgaging, assigning or subleasing party <br />has given written notice and copies of the mortgage, assignment or sublease documents to the <br />Lessor. Lessor may assign, convey, sell, mortgage, pledge or otherwise dispose of Lessor's <br />reversionary interest and/or Lessor's reserved royalty and other interests in the Property or any <br />portion thereof with ninety (90) days prior notice to Lessee. <br />(b) Lessee may assign this Lease to an assignee or sublessee that is controlled <br />by Lessee and who assumes all the obligations of the Lease, and may sublease [his Lease to any <br />s:\legal\wkd\tmccpuebloVeue.doc I3 <br />