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<br />STATE OF COLORADO
<br />$Ule Bond o(Land Commicsione«
<br />Deputment of Natural Rerourcu
<br />Denver, Colorado 80703
<br />GRAY MINING ASSIGNMENT LEASE NO. 221
<br />Pull Assipytment from Lean Nn. 1621/165
<br />Assrgnor:~[we-Ya11ur &~tr~alorlu Oa~auy. •
<br />D v ~ on o uar u~ , -,
<br />THIS MINING LEASE, Made sn duplrute sod entered into stirs I4[h day of Ootebas Ig70
<br />by and b•tw«n the Sate of Coleudn, acing ahrvugh iss STATL DOARD OF LAND COMMISSIONERS, herema(ter
<br />referred to as Lessor, and_ WIAHADO H6PHAL19itIffi OOIB'OBA'[ILIY
<br />P.Oe How 1001, Caaou C!!y, Co orasde BI 2 '
<br />- - - -- , hemmdta rclcrrcd ro u Lcsfee:
<br />WITNESSETH: THAI WHEREAS, Sid IwertsWts from an assignment of Mining Lcasc No. 1HY3/16-8 cuvering
<br />the land dncrrbed below; she SIO apignment fee hating been paid to Lessor, and «nsal fur the year ending
<br />J~nutry 9, 1971 ~ having been pasd to Lessor under aid Mining base No. 1523/165 ;and in
<br />consideration of Less«'s agreement to pay annual advance «nul of fifty ccnla (50~ per acre or fraction therm(, on
<br />each enmvtrsery Jam of this lean, which date Is J~ntOry 9 , so long as Bald Inse shall remain in
<br />clfca;
<br />and in funhcr considennon of the terms and condnrons nercinafrer scaled, end of tie paymem of m aloes reserves
<br />Herein, to be kept and performed by Lessee, I[s successors and assigns, does hereby demrse and Icasc Id Lessee the rsglst
<br />and priv,leg<of ezPlurtng and prospecting (or, and mining for and Inking elrp"~"~~'~"'~'~"--"--'--
<br />and suoeus<d minerals of value chat can be «moved in the process of mining and mdlingC7a ~~~--~-~--------
<br />Lom the lands heneinagcr dcsnibcd, nwale, lying and being m the CounlY of ~ ~ ~~~
<br />State of Colorado, to wit
<br />ACRES SUBDIVISION SECTION TOWNSHIP RANGE PATENTS
<br />160.00 6/2 SW/4; p/2 SB/4 ]6 21-Seu[4 68-Beat Soda
<br />load Pss4dr 8ehool
<br />containinb}~•~ acne, more or less, to ether with th<right to case u much of she mr(ace Neno(es may reasonably
<br />be rcqulnd In [h• •aerciv of th. rights an~ pdvil•gn har•in panted, and the nawmble righe to ingneu and cpcm: the
<br />nght to the use Of W otherwise unappropriated water from said hods but oot Gom surface lesxe9 or wdatt owner']
<br />want wells or reservoirs; the right la constmct building, make ucavanons, stockpilm, dumps, drains, roads, railroads,
<br />power lines, pipelines, and other impmvem<nss as may be necessary; sublret, however, to aS 'a[utmg essaments and
<br />rlghttaf-way of third panics, and the tights of sur[att lasuas and mrface patentees, and further sublecl to the terms,
<br />condmons. and rayahies set out in this tense
<br />RESERVING, Huvicver, to she Scale of Colorado:
<br />A. All rights and Privileges of avert kind and nasure, except u are h<rein specifically granted. '
<br />R. The Highs to use or lease uid p«mines or any part [hereof at any lime for any purpo'ic other Than and oot
<br />inconsrs«m err interfering wish the rights and Prfvllegeshe«m spem(ieflly grand.
<br />C. The right as all trines during the lift of this Icasc to go upon said premises and every pen thereof, far the purpose
<br />of inspecting vine and the books of accounts and records of mineral workings therein, end of asttrtaining
<br />Warher or not sud Lafee and Thom holding ihcrcundcq by and !mm it, are car, ying out the germs, Covewsss,
<br />and agr«ments m thn leue contained.
<br />TO HAVE AND TO HOLD The abov~desenbad pnmises, wrih the oppurlenonces, unto the Leaxe, its hcins, fuccc»ora,
<br />assigns, of legal tepreuntatives, from Twelve p'elock noon on me 1lrrh day of fdelob~r , ly 70 ,
<br />cif Twcist o:lock noon on the 9p1 day of .T~9ag'P
<br />I 4 ,and. neaps as hereinafter sated, as long thereafter as die minerals hveinabove dcstgru«d are Ocmg produttd
<br />'n paving gmmities from said premisn, and she royalUCS end rtnis pronded fur herein, or by any cztension Isereof, ua
<br />hcing pud. 5ubjep to the following iermf, conditions, and ag«ements. to wM1:
<br />I Minimum o al[ - As minimum and advance royalty, without relation to the amoun[ of mlrlerals mined from
<br />t r none premssee. she L•teees wdl p]y to the Lessor she fo0owmg amounts:
<br />LEASE YEAR MINIMUhf ROYALTY LEASE YEAR MINIMUM ROYALTY
<br />'m~rb: None .. .
<br />~L~~~c~'ay~}~e su
<br />Aercage changes «muin5 from surrender or pxtial assignment do not reduce Ne minmsum royally propor
<br />sianately. The Bwid will getetmine the minimum royalty.
<br />Fw stint, as dm end of ueh firc•yw penod, the Boud may fa the rate of advantt royaty to b Daid for each
<br />mmmding livnycar period of the leafs.
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