Laserfiche WebLink
C. The right to dispose of or lease the surface where Lessor is the surface owner. <br />D. The right at all times during the life of this lease to go upon said premises and every part <br />thereof for the purpose of inspecting said premises, and the books of accounts and records of <br />mineral workings therein, and of ascertaining whether or not said Lessee and those holding <br />thereunder by and from it, aze carrying out the terms, covenants and agreements in this lease <br />contained. <br />E. The right at any time to grant aright-of--way upon, over or across all or any part of said <br />premises for any ditch, reservoir, railroad, communication system, electric powerline, or <br />pipeline, schoolhouse or other lawful purpose; but that such grants shall be subject to the rights <br />of Lessee. <br />TO HAVE AND TO HOLD The above-described premises unto Lessee, its heirs, successors, assigns, <br />or legal representatives for the term of five yeazs, and until Twelve O'clock noon on the 23rd day of <br />October , 2001 ~ ,and the royalties and rentals provided for herein aze being paid, or by any extension <br />hereof, subject to the following terms, conditions and agreements, to-wit: <br />ADVANCE MINIMUM ROYALTY - As minimum and advance royalty, without relation to the <br />amount of minerals mined from the leased premises, Lessee shall pay annually in advance to Lessor the <br />following amotmts: <br />LEASE YEAR AMR LEASE YEAR AMR <br />1996 None <br />1997 None <br />1998 None <br />1999 None <br />2000 None <br />Further, at the end of each five-yeaz period, Lessor may reasonably change the rate or amount <br />of advance minimum royalty to be paid by Lessee. In the event Lessee does not extract minerals from <br />the leased premises sufficient to remm to the State the minimum amounts above specified, it is <br />nevertheless understood that the above sums of money aze due and payable to Lessor whether or not <br />minerals aze mined, but that such advance minimum royalty shall be credited upon the first royalties <br />due as herein provided for minerals actually produced from said premises. <br />2. FORFEITURE OF ADVANCE MINIMUM ROYALTY - in the absence of production of minerals in <br />-continuous paying quantities before the expiration date of the lease, all advance minimum royalties and <br />all rentals shall be forfeited. <br />3. PRODUCTION ROYALTY -Lessee shall pay to Lessor a production royalty for all ores beazing <br />metalliferous minerals, non-metalliferous minerals, gems, specimens, placer minerals or any products <br />whatever which aze mined, saved, sold and/or removed from the leased premises shall be based on the <br />following: <br />Bulk Rovaltv <br />The royalty For any products whatever which are mined, saved, sold and/or removed from the <br />leased premises. shall be based on one of the following, whichever is greater: <br />f~ -----__.___ .._..... <br />~ e ~ ~ Page 2 of 9 <br />