PERMFILE100038 - Laserfiche WebLink

Home Browse Search

~, .~ C. The right to grant rights-0f-way over said premises for pipelines, roads, railroads, power, telegraph, telephone, ditches, and canal lines. or any other lawful purpose, or lease the above-described lands for any other purpose than the one specified therein, which such grants or leases shall be so made as not to interfere with the operation of this lease, and so as to require the .grantees of such rights to assume all risk resulting therefrom.. D. All rights and privileges of every kind and nature not herein expressly.granted TO HAVE AND TO HOLD The above-0escribed premises, with the appurtenances, unto Lessee and the heirs, assigns, successors or legal representatives of Lessee, from. 12:00 Noon on. the 4th day of anu r 1995 ,.for the term of en (~_) years, until 12:00 !Noon on the 4_ tlt day of .ianuary , 2005. Any extension shall be negotiated within sixty (60) days prior to the termination date herein. Lessor reserves the right not to renew this lease. 1. ROYALTY -- Lessor resen~es as royalty, and Lessee agrees to pay to Lessor on or before the last day of each calendar morah following the month of production, $ _,~S er ton of 21(10,1p-,y'/~Yo ~~~ ~ Within sixty days prior to the termination of each and every five-yeaz period for so long as this lease remains in effect, Lessor may reappraise the property herein leased and fix and determine the rate of production royalty to be paid during each year of the succeeding five-yeaz period. Failure to comply with any new royalty rate set by Lessor may subject this lease to cancellation by thirty-day written notice by Lessor. 2. ADVANCE.MINIMUMR0YALTY - As minimum and. advance:royalty;.without relation to the amount of material mined from the leased premises, Lessee.shall pay annually in advance to Lessor the following amounts: LEASE YEAR 1995 1996 1997 1998 1999 AMR None None None None None LEASE YEAR 2000 2001. 2002 2003 2004 AMR None None None None None Royalty due for material produced from said premises shall be credited against such advance minimum royalty until the total sum is equal to the advance minimum royalty previously paid to the State, at which time a regulaz monthly royalty will be due and payable as herein provided. In the event Lessee does not extract minerals from the leased premises during the lease term or any term so agreed to by Lessor, the minimum amounu above paid to the State will be forfeited. , Acreage changes resulting from surrender or partial assignment may reduce the advance minimum royalty proportionately. Further, at the end of each five-yeaz period, commencing from the original lease date, Lessor may reasonably change the rate or amount of advance minimum royalty to be paid by Lessee. In case of assignment of this lease, all advance minimum royalty paid to the State shall be carried forwazd and credited to the new assignee. Page 2 . of 8