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i~ <br />r~ <br />i <br />,: <br /> <br />• h. All paynicu LS o[ tondo r.: of delay ronlal:: may 6u m,ide by chuck <br />o[ draft uE Lc~neo ¢[ ,ury ..s iyro:c than nC mailed or delivered on oC <br />bo[ore thu [enrol paym~•nt da lc, cithur direct [0 6essnr or assiyns or to <br />the do pose COry bank designated below, and i[ is understood and agreed <br />that the tunsidera ti on Eirs[ recited heroin, [he down payment, covers <br />not only [hc p[tvilugc gran red to the date when said first rental is <br />pay.rb lu as nForesa id but also the Lcsscc's option of errand ing that <br />period as aforesaid, and any and all bthcr tights Conferred. <br />5. PRODUCTION ROYALTY. Lessor hereby reserves and Lessee agrees <br />to pay to Las sot as royalty an amount vhi ch is equal to Eive percent <br />(Stl of ehc gross value of [he coal mined from the leased premises at <br />[he point of shipment from the leased premises to market. Such toya: ty / <br />shall be due and payable on or before the 25th of each calendar month <br />duriny the term oP [his lease for coal mined, removed and sold by Lr:ssee <br />during the proced ing calendar mooch. <br />6. DEPOSITORY. Lesso[ designates Rcutt County National Bank, <br />Steamboat Springs, Colorado 00477, as the depository For receipt and <br />payment of all rentals and royalties payable or accruing hereafter. <br />Said bank and any successor is the Lessor's agent and shall continue as <br />the depose Cory of any and all sums payable under this lease regardless <br />of change of ownership of the leased premises or in the coal or in the <br />._rentals ,to accrue hereunder. All payments made or tendered hereunder to <br />such depository shall be deemed to be made or tendered to Lessor. <br />7. WEIGHT OF COAL. IL is agreed that all Coal mined and taken <br />from the leased premises shall be weighed and the weight [hereof shall <br />be entered ir. due form in books of weight records and for such purposes <br />by Lessee. It is agreed that the term "ton" as herein used means a ton <br />of 3000 pounds of r..erchantable coal as shown by coal miners' payroll <br />check number or official railroad scale ticket or by weight determined <br />at the mine tipple, or by weigh remote:. <br />B. REPORTS. After operations are begun, it is agreed that on or <br />before the 25th day of each and every month d~utinq the term of Ch is <br />lease, the Lessee shall make a sworn report to the Lessor, in which <br />shall be entered and set down the exact amount in weight of all coal <br />mined and removed from leased premises and sold dozing the preceding <br />calendar month. <br />9. MINING :1ETX005. Such methods of mining shall be used as shall <br />insure [he extraction of the greatest possible amounts of coal con- <br />sistent with prevailing good mining practice. <br />30. GEOIAGIC DATA. In rho event Lessee [e cminates this lease, <br />Lessee agrees [o provide Lessor with copies of geologic data, drill hole <br />logs, maps and reports as such pertain to the coal lands described <br />herein. <br />11. NOTICES-DEFAULT. It is agreed that any notice required o[ <br />permitted to b¢ given to the parties under the provision of [his lease <br />shall be sent by certified mail Co the addresses see forth at th¢ <br />beginning of this lease or t¢ such other addresses as the parties may <br />indicate in writing to the other, and such service by mail shall be <br />deemed suf Ficient and to Eull compliance with the term oP this lease. <br />If at any time Lcssec shall be in default in the performance <br />of the terms and conditions of this Lease to be performd by it, provided <br />such default is not caused by casualties, strikes, legislation, public <br />regulations, storms, ELoods, ae is of God, civil of military disorders, <br />insurrection, riots, Eite, ateiden t, explosion, or o[I;cr causes beyond <br />the eantn+l of Lessee, and if, within 90 days after wrntten notice of <br />such de fault is given by Lessor to Lessee, Lessee has noG cured the <br />default or conmrcncud ac CivtCics '.'h tch will cure ehc default if pursued <br />del iycntly, than Lessor may terminate thtz lease by notice to Lcssec; <br />lrrovidud shat, for any dcfau l[ in the payment of money, Lessor may <br />terminate Chu leas¢ if such default is not rated within 10 days of for <br />such vriCtun no [i ce of default. <br />12. A501t:N M1:NT. Ass iynment shall 6c made only u7nn written <br />approval of lussor, wl;ich aVl+roval shall not be unreasonably withheld. <br />