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<br /> <br />t:OW, TIiLREFOR>;, this agreement witn©aceth tSai:: <br />1. First Party, subject to the tarms and conditions <br />hereinafter ant forth, hereby grants unto Second Party the c~.cls.~ivo <br />right to enter upon the real estate above described and to removes <br />therefrom sand and gravel and gravel products for a period of five <br />years from date hereof, anti with an option to extend thic agrecrao:t <br />for another five year period, unless sooner terminated a~ hcrein- <br />after provided. The option for the extension for an additoral <br />five years may be exercised at any time during the first five year:; <br />hereof by written notice delivered personally to the I'iret Party e: <br />mailed to First Party at the address then in use for payment of <br />royalties to b'irst Party as provided hereafter. <br />2. Second Party shall have all rights of ingress ar.3 <br />egress, and the privilege of moving machinery and personal proper t; <br />upon said premises as it may desire, construction of water linc~ <br />across the said property, and installation of electric and telu~'r~o:i:: <br />lines on the said property. As to any machinery, equipment, par:;o;:al <br />property, telephone and electric lines installed in or on saiu <br />premises by Second Party, Seco;:d Party sl;ail save I;armle:,s Pir~t <br />Party from all taxes which may be assessed or levied against ti:e <br />name and against any stoc}=piles of sand or gravel. <br />3. Second Party will pay to :'first Party for material:: <br />removed by them from First Parties premises (but not stockpilou <br />thereon) in one of the following manners: eioht cents per ton or <br />twelve cents per cubic yard. Should Second Yarty realize incorr. <br />from the sale of minerals other than gravel, sand and othar reiac~ci <br />materials used in the construction industry extracted from t'.;e <br />}3erein described property, Second Party agrees to pny l~iret Party <br />one-half of the net income realized by Second Party before tax~a <br />from such sales. <br />4. Second Party will provide fiirst Party with a w"i iL'.~C Y1 <br />statement as to all materials removed by it (but not stocY.pilcd) in <br />-2- <br />