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10/18/Ol 22:52 FAd f~j05 <br />is-hole surveys, All such logs, geologic and hydrologic conditions and surveys are to be collected sad <br />prepared under the supervision of a qualified geologist, geological engineer or mining engineer_ Other <br />qualified persons tray collect and prepare this data, if agreed to in writing betweea_Lissx and Lessor_ <br />Any request ro keep certain information confidential should be made in writing to Lessor at the <br />time such information is subtnitred m Lessor. <br />Lesser: shall submit, if required by Lessor, such additional repasts, records or doarments <br />regarding Lessee's operations an the leased premises as necessary for the purpose of daenniniog <br />compliatttx with lease provisions. <br />7. OVERRIDING ROYALTY LiMIITATIONS - It is agreed that this lease or arty subsequent assigmteot <br />hereof shall not be burdened with overriding royalties the aggregate of which exceeds two percent Q%) <br />of the gibes value of the miuerala ar ore at the fast point of sale. Lessor must 6e notified of all <br />overriding royalties accruigg to this lease. i <br />8. DEVELOPMENT -- This paragraph deleted. '~ <br />9_ PBNALTIPS - A penalty shall be imposed for, but not limited to, late payments. improper paytnepts, <br />operational deficiencies of say kind whatsoever, violations of any covenants of this lease, or any false <br />statements made to Lessor. Penalties shall be detettttitted by Lessor unless otherwise provided for by <br />law and tray be in the form of, but not limited to, interest, fees, fates, and/or lease p9nrwllatloa A <br />penalty schedule shall be prepared by Lessor and shall become effective immediately after public notice. <br />Said schedule may be changed from t®e to time after such noriee. <br />10. ASSTGNMIsNT -Lessee, only with written consent of Lessor, may assign this lease as to the leasehold <br />interest of such Lessee in all or part of the lends covered hereby; not less, however, than tracts of <br />approximately forty (40) acres ar govetrimeirtal.lots corresponding to aquarter-quarter sxtion for say <br />• par[ial assignment. . <br />No assigmmeot of undivided interests or retention or reservation of overriding royalties will be <br />remgniud or approved by Lessor, and the effect, if any, of any such assignments or trservatioas will <br />be strictly and only as between the parties thereto and outside the terms of this lease. No dispute <br />between parties [o any assignment or reservation shall operate to mlieve Lessee from perfo~*++•~~a of <br />arty tetras or conditions hereof or to postpone the time therefor. Lessor will at all tunes be entitled to <br />look solely to Lessee or his assignee shown on Lessor's hooks as being sole owner hermf, and for the <br />sending of ell notices regttired by this lease, for dte pertortttattce of all terms and conditions hereof. <br />if an assignment of a part of this lease is approved, a new lease designated as as assigmtamt' <br />will be issued to the assignee covering the lands assigned for the balance of the term of the base lease <br />on the outing lease fora in use at the time of assigtrmeat and limited as w term as said lease is limited. <br />The assignor will be relea.9ed and discharged from all tutther obligations for such lands assigned, as if <br />the same had never been a part of this lease. <br />11. ASSIGNMBNT CONSIDERATION -The consideration for approval of assigmaent by I,essar shall <br />be 10% of the value of any consideration tendered to Assignor by Assignee for the assignmettt- <br />Dlvulgeace of the value of these considerations shall be mandatory, in affidavit form, whirh form shall <br />page 4 of ~ <br />~: <br />