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Rights exclusively unto Lessee, its successors and permitted assigns, to have and to hold the <br />same for the term hereof, and warrant the title to the same, unto Lessee, its successors, and <br />permitted assigns against all those who may claim the same by and through the Lessor, his <br />successors and assigns, there are no, and during the term of this Lease Lessor will not create any <br />outstanding non-operating interests in the Property and Mineral Rights (such as overriding <br />royalty interests) or liens on the Property and Mineral Rights securing obligations of Lessor or <br />his affiliates that are not subordinated to this Lease. Lessee will not during the term of this Lease <br />create any non-operating interests in the Property and Mineral Rights (such as overriding royalty <br />interests). <br />(c) Lessor reserves unto himself, his successors and assigns, Lessor's <br />reversionary interest in the Property, and all other estates and interests in the Property that <br />are not the subject of this Lease. <br />(d) In connection with and as a part of the leasehold interests.hereby granted, <br />Lessee shall have and may exercise, the following rights with respect to the Property and Mineral <br />Rights: (i) the right to conduct operations for exploring, developing and mining the Minerals, <br />performing such exploration, development and mining in any manner deemed necessary or <br />convenient by Lessee, whether by surface or other mining methods; (ii) the right to stockpile and <br />store on or within the Property or permanently to remove from the Property, sell, use and dispose <br />of the Minerals, including sand and gravel contained in existing dumps or piles on the Property, <br />(iii) such tights of access for personnel, equipment, supplies, utilities and water as may be <br />necessary or convenient for the conduct of Lessee's operations on the Property, excluding access <br />upon and across any other land owned or controlled by Lessor or over which Lessor may have <br />dominion or control; and (iv) the tight to mine, extract, sort, process, mix, convert to marketable <br />s:\legal\wkd4mccpueblo\I<asc.doc 2 ! o~i(J <br />