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S,trm~ Gtuvrt. Lusa • P,tca 2 The rights grmted huandu shall be exclusive in the seine that the Lesson will not grant to myone elx the privilege of rwoviog smd end gravel from the Property during the period hereof or until reclamation is completed. Lessors resave the right ar my time during the term hereof to go on and ux the Property for my purpox whatsoever, but vrithout unreasonable interference with the right of the Lessee. in no evmt shall this include the right to mtu the mine md/or rwrne material from the mine face. 2. ACCESS ROAD. Attached hereto as Exhibit "A" and labeled "Raftopouloa Prospect" is a plat of the propoxd permit area, including the "Proposed Access Road.• Lessen shall be responsible to improve and maintain the "Proposed Access Road" to wharevu extent is necessary for Lessee's purposes at Cause's sole expense. Lesson reserves urtto thwaelva and thdr guest and invitxs and without interference with Lessee the right to use the "Proposed Access Road• for ell purposes including ingress and egreav to and from contiguous property owned or used by Lessors. At the coacluaion of Chia lease, Leasora mry accept rattan of the Property without reclamation of the acceu road, in which evmt Lawn shall notify the State Lmd Mtned Reclamation Board of such intmt, or Lesams may at thdr option require Lessee to fully «cleim the properties burdened by said access road. 3. TERM. This Leax shell extmd for a period of five (5) years from the date hereof. Lessee shall have the absolute right to anew this Leax for m additional term of five (5) years, subject only to a renegotiation of the rmt and royalty set forth in Paragraph 4 below. To exercise thin right to anew, Lessee shall serve Lessors ar the abovo-atated address with written notice of its intent to anew not less thin ninety (90) days prior to the expiration hueof, whereupon the parties shall adeavor in good faith to agree to a new rat and royalty to be applicable during the extaded term hereof. Each party shell be dewed to be negotiating in good faith if the price being negotiated is related to a current bona fide offu to lease received by Lessors from a third party or to other objective indicators in the mariret place. Upon agreement to a new rent and royalty, the parties will execute a written extasion agreemmt. If the parties have not agreed to a now rent and royalty by the expintioo hereof, this Leax shell expire, subject to Lessee's right in Paragraph 8 hereof. 4. RENT AND ROYALTY. Lessee shall pay Ldsors the sum of FIVE HUNDRED and NO/100 Dollars (SS00.00) per year in advmce (herein, "Annual Rental") during the primary term hueof and during my extended time that Lessee is in possession for reclamation ar provided in Paragraph 8 below, which shall ba full compensation for uses of and dwage to the Property. Additionally, Lessee will pay Leaven a royalty equal to sixty cents (5.60) pu abic yard for sand and gravel mined and rwoved from the Property. Payment is to be made on qumtities as measured by a Licensed Surveyor wployed by Lessee. Hy stating a royalty herein Lessee in no wsy guarmten my minimum production. Furthermore, Lessee is not obligated to agage in mining or production to maintain this lease during the term hueof, it being tha intent of the parties that the lease be held by the Amual Rental stated above. M additiond consideration for this lease, Lessee agrees to set aside in a distinct and sppropriately marked pile, 100 cubic yards pu amain of pit run from the mine. Lesson shall be entitled to rwove said pit run from the Property at wch times and in such qumrities as Lessors choose, all at Lessors' coat. Exhibit N Page #2