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in-hole surveys. All such logs, geologic and hydrologic conditions and surveys aze to be collected and <br />prepazed under the supervision of a qualified geologist, geological engineer or mining engineer. Other <br />qualified persons tray collect and prepaze this data, if agreed to in writing betwcen,Lessee and Lessor. <br />Any request to keep certain information confidential should be made in writing to Lessor at the <br />time such information is submitted to Lessor. . <br />Lessee shall submit, if required by Lessor, such additional reports, records or documents <br />regazding Lessee's operations on the leased premises as necessary for the purpose of determining <br />compliance with lease provisions. <br />OVERRIDING ROYALTY LIMITATIONS - It is agreed that this lease or any subsequent assignment <br />hereof shall not be burdened with overriding royalties the aggregate of which exceeds two percent (2%) <br />of the gross-value of the minerals or ore at the first point of sale. Lessor must be notified of all <br />overriding royalties accruing to this lease. <br />8. DEVELOPMENT -This paragraph deleted. <br />9. PENALTIES - A penalty shall be imposed for, but not limited to, late payments, improper payments, <br />operational deficiencies of any kind whatsoever, violations of any covenants of this lease, or any false <br />statements made to Lessor. Penalties shall be determined by Lessor unless otherwise provided for by <br />law and may be in the form of, but not limited to, interest, fees, fines, and/or lease cancellation. A <br />penalty schedule shall be prepazed by Lessor and shall become.effective immediately afrer public notice. <br />Said schedule may be changed from time to tithe after such notice. ` - <br />10. ASSIGNMENT- Lessee, only with written consent of Lessor, may assign this lease as to the leasehold <br />interest of such Lessee in all or part of the lands covered hereby; not less, however, than tracts of <br />approximately forty (40) acres or governmental lots corresponding to aquarter-quarter section for any <br />partial assignment. <br />No assignment of undivided interests or retention or reservation of overriding royalties will be <br />recognized or approved by Lessor, and the effect, if any, of any such assignments or reservations will <br />be strictly and only as between the parties thereto and outside the terms of this lease. No dispute <br />between parties to any assignment or reservation shall operate to relieve Lessee from performance of <br />-= -any4erms or conditions hereof or to postpone the time therefor. Lessor will at all times be entitled to <br />look solely to Lessee or his assignee shown on Lessor's books as being sole owner hereof, and for the <br />sending of all notices required by this lease, for the performance of all terms and conditions hereof. <br />If an assignment of a part of this lease is approved, a new lease designated as an assignment <br />will be issued to the assignee covering the lands assigned for the balance of the term of the base lease <br />on the mining lease form in use at the time of assignment and limited as to term as said lease is limited. <br />The assignor will be released and dischazged from all further obligations for such lands assigned, as if <br />the same had never been a part of this lease. - <br />11. ASSIGNMENT CONSIDERATION -The consideration for approval of assignment by Lessor shall <br />be 10% of -the value of any consideration tendered to Assignor by Assignee for the assignment. <br />Divulgence of the value of these considerations shall be mandatory, in affidavit form, which form shall <br />Page 4 of 9 <br /> <br />