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5/13/61 <br />this Agreement and all Exhibits hereto shall terminate and be <br />• ~ of no further force or efEec t, unless extended by Anchor, which <br />extension period shall not exceed six (6) months. <br />2. Roberts Lease. Anchor does hereby agree to lease <br />the P.oberts property to Bear pursuant to the terms and <br />conditions contained in the Lease attached hereto as Exhibit B <br />(hereinafter the "Roberts Lease"). <br />3. Titles to Properties. Anchor makes no <br />representations or warranties as to titles to the Lease on the <br />lands covered thereby or the Roberts Property. Bear shall have <br />thirty (30) days from the date hereof in which to examine <br />titles. If titles to any of those properties are not <br />merchantable, Hear shall have the option of either: <br />(i) notifying Anchor in writing of such defects and terminating <br />this Agreement, the Sublease and the Roberts Lease, in which <br />event Hear shall execute a written release to Anchor of Bear's <br />interest therein and Anchor shall refund all amounts paid by <br />• Bear under this Agreement, the Sublease or Roberts Lease; or <br />(ii) waiving said defects and continuing under the other <br />provisions of this Agreement. A failure by Bear to so notify <br />Anchor shall be deemed to be an election by Bear to waive such <br />defects. <br />4. Wheelaqe, In consideration for the right to use <br />the Surface Rights and .the Roberts Property as provided in the <br />Sublease and Roberts~Lease respectively, Bear agrees to pay <br />Anchor a wheelage royalty of two percent (28) of the gross <br />sales price per net ton~of two thousand pounds of coal, for all <br />coal produced from lands other than those subject to the Lease <br />and hauled or transported through, over or under the Lands <br />subject to the Lease or the Roberts Property. For purposes of <br />determining tonnages and gross sales, Bear shall use the same <br />tonnages and gross sales as those that would be used to <br />• calculate royalty payments to the United States for that coa 1, <br />if such payments were made on a percentage basis, rather than a <br />2 _ / <br />/!~ <br />O/ /~._~....~ <br />