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.. <br />LEASE AND OPTION AGREEb1ENT <br />• 1. EFFECTIVE DATE, The Effective Date of this Agreement <br />is December 2U, 1972, regardless of file date upon ~rhich it is <br />signed by the parties hereto. <br />2. PARTIES, The parties to this Agreement are Commercial <br />Minerals, Inc. (hereinafter "Commercial"), a Colorado corporation, <br />and Colorado Lien Company (hereinafter "Lied"), a Colorado corpor- <br />ation, <br />3. SUPL'RSESSION OF P?IOR AG1u:E;SENT, This Lease and Option <br />• Agreement supersedes and replaces iu all respects that certain <br />Option Agreement dated ilovember 2.1, 1971, and executed by the <br />parties hereto. aaid Option Agreement shall no longer be of any <br />force or effect as of the Effective Date hereof, <br />4. PROPERTY. The property covered by this Lease and Option <br />(l~1aV1,\G\\4 \•V \lJ 1J \rJ V1 YYVJV VVi Yu;l( YlI ,.IM YV I. YVV ,,/i.,VVi u. Y•, i.,d <br />claims (hereinafter the "Subject Lards") described in Exhibit A <br />hereto, which by this reference is made a part hereof. <br />5. GRANT OP LEASE. Commercial hereby leases the Subject <br />Lands to Lien for the term described in paragraph 6 below. This <br />lease is granted for the purpose of exploration, development, <br />mining and mineral exploitation of the Subject Lands for any and <br />all minerals, metals and ores and substances containing minerals <br />or metals, in, upon or underiyin~ the Subject LauJs, and for all <br />purposes and activities reasonably incident thereto. Lien is <br />hereby granted the right to eater into and to immediately exercise <br />exclusive possession and control of the Subject Lands and, during <br /> <br />• the term of this lease, to remain in exclusive possession and <br />