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~~_===-: III IIIIIIIIIIIIIIII <br />::ter <br />-:.~ _ .. <br />---- ~~ <br />7'~ie agreamn/st mard7e a/ad asstered into ae at thinMdsy ~ 1 S 99 by assd <br />betwen ~~-d ~, r/~rew5 (aptiamee) //eX ~' ~~s ~oP~onsr) <br />,that grants ~G~tiaaee• the optiDn• to Lase the property cappsardmatsly (~L~'1Q aerea, J <br />deaaribed in the attached e>~lhit tram eptioner: <br />Tessaa of the Option and Qaal Lease (it optioned) are as foLtowa:. <br />Olrl'IQ1:.1. TsrmrTiro years trcas the date of tis3s doam:sat. The Option may be eoxrc3aad <br />anytime during the trio Tear period Y~ IO (ten) days xrittaa aotiea. <br />Z. Cmry~ tioa-Optioaer ehal]. be paid tin eom of ~~~ ar bet <br />• ~ ~eyy of ~ and another ~aa or bstoref~day of <br />/Q9 Thin total amorist NdLI be reaoapahle iron coal es3aed <br />from the property. <br />3. Espioratioss-During the term of the Option, Optioase eha1l have the right <br />to eater upon the property to partosa asgsloratory dri111ng, electric <br />logging, and the•othsr aotivitiee saaeaiated rith coal. exploration. <br />6. Aasignmsat-?his Option may bs aaaigaed to s Cerporatica awned by Optia~aee <br />or to minim compay ecQStraLled by John al:ch and gem Prancia. <br />5. 7erminsstioa-Optiam Agraemast map be terminated by Optioaes by giving <br />Optiosser 60 (sizty) Jaya ~rrittan notice. Qpoa termination all. mouiea <br />paid to OPticner x321 no loesgsr be reeoapable by Optionee. <br />LEASE: <br />I. Tess ~~ veare. <br />2. Sayslty-Ssveat9 percent (70~) of the royalty paid to Optionee for coal. <br />mined.Brom the ProPes't9, Prorated to rhataver portions of the mitsersl' rights <br />are owned by Optione~s It is aolmorledged that OPsioner rill receive <br />