PERMFILE114514 - Laserfiche WebLink

Home Browse Search

No assignment or transfer of this lease will be held valid by Lessor unless made with its consent in writing and duly entered in the books or records of Lessor. Assionnten[ Consideration -- The consideration for approval of assignment by Lessor shall be ten aercent ( 10~l0 ) of the value of any consideration tendered to Assignor by Assignee for the assignment, Divulgence of the value of these considerations shall be mandatory, in affidavit form, which form shall be presented to Lessor along with the other assignment instruments in order to obtain Lessor's approval for the assignment. An azsignment does not constitute a new lease but is a continuation of the base lease. Any attempt to withhold this information shall be construed as an attempt to defraud the State of Colorado and shall render this lease null, void, and nonexistent, and all monies paid to Lessor shall be forfeited to Lessor. In addition, the current statutory fees will be paid at the time the assignment record form is submitted. 9. AGREEMENTS OUTSIDE THE TERMS OF THIS LEASE -- No azsignment of undivided interests or retention or reservation of overriding royalties will be recognized or approved by Lessor; and the effect, if any, of any such azsignments or reservations will be strictly and only az between the parties thereto, and outside the terms of this lease, and no dispute between parties to any such assignment or reservation shall operate to relieve Lessee from performance of any terms or conditions hereof or to postpone the time therefor. Lessor will and shall at all times be entitled to look solely to Lessee or its assignee shown on Lessor's books as being the sole owner hereof, and for the sending of all notices required by this lease and for the performance of all terms and conditions hereof. Although not binding on Lessor, all instruments of every kind and nature whatsoever, including but not limited to sublease agreements and operating agreements, affecting this lease shall be filed in the records of the Mineral Department of Lessor. Upon request, such instruments furnished may be kept confidential az consistent within the law. ]0. REPORTS -- After operations begin, it is agreed that on or before the last day of each month during the term of this lease Lessee shall submit a sworn, verified, written report to Lessor, in which report shall be entered and set down the exact amount in weight of all products and the assay thereof mined and removed from said leased premises during the preceding calendaz month, which report shall show the amount of work performed during the preceding calendar month. Lessee shall also, annually during the term of this lease, submit a sworn, verified, written statement to Lessor disclosing the number of tons and the assay thereof of all ores, minerals and other materials mined from the premises during the preceding year. Such annual statements may coincide with Lessee's fiscal years or with official calendar years. Further, Lessee shall furnish a map annually showing all workings, depth, thicknesses and shape of wry ore body with location of same tied to a corner established by United States survey, certified by a licensed surveyor. Maps furnished to the Colorado Division of Mines or to the Mined Land Reclamation Division may satisfy this requirement. Lessee shall provide to Lessor, upon request, a complete report on prospecting and exploration operations, including geologic interpretations and recoverable reserve calculations, and maps and cross sections showing location of any mineral-bearing outcrops, drill holes, trenches, ore bodies and other prospecting and exploration activities, along with assays showing the amount of mineral contained in the ore. The records required to be maintained by Lessee and provided to Lessor upon request include logs of all strata penetrated and all geologic and hydrologic conditions encountered, and copies of in-hole surveys--this information to be collected and prepared under the supervision of a qualified Page 5 of 10