Laserfiche WebLink
<br />shown in the contract. <br /> <br />Sec. 3. Payments, title, and reappraisals -You receive title to the mineral materials only after <br />you have paid for them and extracted them. You may not extract the materials until you have <br />paid in advance for them either: In full, or In installments of ;ach. <br />[ ] If you pay in full in advance, BLM will check this box and subsections 3(a) through <br />3(c) do not apply to your contract. You must pay in full for all sales of $2,000 or less <br />(a) If you pay in installments, you must pay the first installment before BLM approves the <br />contract, and you must pay the second installment before beginning to extract the minerals. <br />(b) Your next installment payment becomes due when the value of the materials you extract is <br />equal to the amount of the second and any later installments you have already paid. <br />(c) The United States will retain the first installment as security for your full and faithful <br />performance and will apply it to the last installment required to make the total payment equal to <br />the total price given in section 2. <br />The total purchase price equals the sum of the total quantities removed, multiplied by <br />their respective unit prices. The balance due when less than a full installment remains to be paid <br />is the value of the material remaining under this contract. You must pay the total purchase price <br />not later than 60 days before the contract expires. <br />If you aze late making an installment payment, you must not remove any more material <br />until you have paid. Removing material you have not paid for is trespass, and for trespass you <br />must pay at triple the appraised unit price, or at triple the reappraised unit price if BLM has made <br />a reappraisal. To resume removal operations after you were late making payments, you must <br />obtain BLM's written approval. <br />Sec. Q. Risk of loss -You assume complete risk of loss for all materials to which you have title. <br />If material covered by this contract is damaged or destroyed before title passes, you aze liable for <br />all loss suffered if you or your agents aze directly or indirectly responsible for the damages. If <br />you are not responsible for the damage or destruction, you aze.liable only to the extent that the <br />loss was caused by your failure to remove the material under t$e terms of this contract. You are <br />still liable for breach of contract or any wrongful or negligent act. <br />Sec. 5. Responsibility for damage to materials not sold to you. You aze responsible for loss or <br />damage to materials not sold whether you are directly or indirectly responsible. You aze also <br />responsible for not performing under the contract according to BLM's instructions. If the United <br />States incurs any costs resulting from your breach of any contract terms or from your failure to <br />use proper conservation practices, you aze responsible. If the damage resulted from willful or <br />gross negligence, you aze liable for triple the appraised value of the damaged or destroyed <br />materials. If the damage or destruction did not result from willful or gross negligence, you aze <br />liable for lesser chazges, but not less than the appraised value of the materials. <br />