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~~"._.~ <br /> <br />~~Ai'i ~ ~ ~crq <br /> <br />NOW, TFILREFO:tE, this agreement witnesseth that: <br />1. First Party, subject to the terms and condition.; <br />hereinafter eat forth, hereby grants unto Second Party tklc exclu~iva <br />right to enter upon tho real estate above described and to ri::aovo <br />therefrom sand and gravel and gravel products for a period of five <br />years from date hereof, anti with an option to extend this agrecr.:~nc <br />for another five year period, unless sooner ter.ainated as herein- <br />after provided. The option for the extension for ar. adciitonal <br />five years may be exercised at any time during the first five ye~a~ <br />horeof by written notice delivered personally to the First Party or <br />mailed to First Party at the address then in use for payr.:ent of <br />royalties to First Party as provided hereafter. <br />2. Second Party shall have all riyk~ts of ingress anti <br />egress, and the privilece of moving machinery and personal property <br />upon said promises as it may desire, construction of katcr linen <br />across the said property, and installation of electric and tclc>`~usic <br />lines on the said property. As to any machinery, Pcuipr:ent, parcoral <br />property, telephone and electric lines installed in or on saiu <br />premises by Second Party, Second Party shall save harr..lesu Fir:;i <br />Party from all taxes which may be asses:;ed or levied against t~:c: <br />name and against any stockpiles of sand or gravel. <br />3. Second Party will pay to First Farty for ;r.atcrialc <br />removed by them from First Parties premises (but not ~:tockpiicd <br />thereon) in one of the following manners: eight cents per L-on or <br />twelve cents per cubic yard. Should Second Farty reali::e inco::,c <br />from the sale of minerals other than gravel, sand and other r::l:::.~:i <br />materials used in the construction industry extracted from t'.ie <br />herein described property, Second Party agrees to pay First Pari:y <br />one-half of the net income realized by Second Party before ta:;e~ <br />from such sales. <br />4. Second Party will provide First Party with a wri::tc~, <br />statement as to all materials removed by it (but not stockpiled) in <br />-2- <br />