REV103139 - Laserfiche WebLink

Home Browse Search

SECTION FOURTEEN ROYALTIES ABOVE MININII.IM In addition to the prepaid royalty of $3,500.00 per year being the equivalent of 10,000 cubic yards of material, minimum, to be mined b~+ the lessee, the following royalties shall prevail: $.35 per cubic yard for the next 10,000 yards of material. On all materials rerroved in each year in excess of 20,000 yards, the royalty shall be $.30 per cubic yard, payable as aforesaid on or before the 10th day of the following month along with the monthly report then due. SECTION FIf'I~1 AAiUSTMENT FOR INFiATION OR DEFLATION At the beginning of each fiscal year or the annual renewal date under the teens of this lease, namely on the day of of each year, adjustment in the royalties scheduled herein shall be made pursuant to the then ciu_zent COnSUmer Price Index prepared by the U.S. Department of Labor for the State of Colorado and royalties shall then be adjusted upward or downward in the event of any change and such Consumer Price Index effective that date. SECTION SIXTEE(9 COUNTY AND FOCAL USE PERI~LiTS In the event any local or county use permits are required from the County of Delta for such mining operation, the responsibility and expense in connection therewith shall be on the hand of the Lessee to obtain and coi~ly with the same. SECTION SEVEN'i~I HOURS AND DAYS OF OPERATION Lessee may operate the said mine and premises twenty-four hours per day, seven days per week; subject to any prohibitions resulting from ornq~laints of neighbors or adjoining property owners and Lessee shall hold lessor harmless in connection with any legal expenses or damages resulting fran such complaints and prohibitions. IN WITNESS WHFREOF, the parties hereto have hereinto set their hands the day and year first above written. ACTION EXCAVATING, INC. a Corporation, Lessee IN,'A MOWBRAY, Lessor By DAN JONES, President