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.. ~' <br />Page 2 of_2 <br />LEASE N0. AT(05-1)-ML-60.8-C-SR-13A <br />MODIFICATION NO. A002 <br />years :t minimum royalty of $2,000.00. At the beginning of each <br />lease year thereafter, including lease years in the term of any <br />extension oC this ]ease, there shall become due and payable to the <br />Commission a minimum royalty of $5000.00, provided, that, upon a <br />written application by the Lessee showing to the satisfaction of the <br />Contracting Officer that the market for ores from the lands covered <br />try this ]ease will probably be inadequate to justify operations <br />under tl[e lease during the ensuing lease year, the Contracting <br />Officer in his sole discretion may, by written notice to the Lessee, <br />forgive the payment of the minimum royalty for such lease year, but <br />he may do so only if, as of the beginning of the lease year in <br />question, the total amount of all minimum royalties theretofore paid <br />by the Lessen hereunder ex(:eeds by at least $16,000.00 the total <br />amount of all base royalties paid I[y the Lessee hereunder <br />dnr.ing the previous three years. Such written application shall be <br />submitted to the Contracting Officer not less than thirty (30) <br />(:[tlendar days prior to the beginning of the lease year with respect <br />to whicl[ it is made. Minimum royalties paid pursuant to this <br />article shall be credited against base royalties and royalty bid <br />payments which become payable during the term of this lease or any <br />extension thereof. Minimum royalties so paid shall not be refunded <br />upon tl[e surrender, cancellation, expiration, or other termination <br />oC this ]ease." <br />Tli.ird: Article I] entitled "Term" is hereby revised to read as follows: <br />"II. TERM. This lease agreement shall remain in effect for <br />a I~eriod of ten (10) years from the date of its execution, except as <br />it- inay be sooner relinquished or canceled pursuant to other <br />provisions of this agreement. However, this agreement may be <br />furthec• extended for additional periods not to exceed ten (10) years <br />eac:le, based on a determination for each extension by the Contracting <br />Officer pursuant to 10 Code of Federal Regulations (C.F.R.) Part <br />780.1 (u) that suet[ extension is in the best interest of the <br />Government. No extension shall be granted 1P the Contracting <br />Officer determines that the Lessee is in default of one or more of <br />tl[e terms and conditions of the lease or that the lease should be <br />CE.'~~I SSUed thro(rgh competitive bidding pursuant to 20 C.F.R. Part <br />76U.1(d)." <br />form.leaip;g <br />